Many salespeople give up as soon as the customer says, "No". Many just aren't prepared with good sales tactics and don't know what to do next. This article discusses four good sales tactics to overcome objections. If you practice them until you are smooth, you will close many more sales.
There are two main reasons objections come up in selling and there are sales tactics you need to successfully deal with them. One reason is a knee-jerk reaction on the part of the customer to realizing the close is imminent. They bring up an objection to slow down the process. These objections are the ones you can get past easily by just acknowledging them and carrying on with the close. Let's assume you are starting to write an order and the customer says, "Hold it, that's a lot of money for a computer system." Some salespeople stop here and leave. Did the customer say he wasn't buying? All he said was it was a lot of money and he is probably right. Try using a sales tactic like, "I understand" or "Yes it is" and keep writing the order. About 40% of the time, the objection won't come up again because it was just a delaying reaction to the close. But, in 60% of the cases, you still have work to do. That's when the following sales tactics can help.
Before you use any sales tactics other than the bypass explained above, you should always ask if there is anything else. "Other than that, is there anything else preventing you from going ahead now?" Never deal with objections until you know if it is the final objection or just one in a series of objections.
Drop A Name, Add Information
One successful sales tactic is to drop a name for assurance and add information. It's like telling a story. Let's say the objection is a fear that the warranty is reliable. You might say, "You know, that is just what your neighbor Sam Brown wondered about as well. He did have a service problem two weeks ago and he emailed to tell me how pleased he was with our response. I know you will enjoy our warranty and service as well, I'll get the paperwork started." Always end by going right back to the close.
Get Input From The Customer
Another good sales tactic is to get more information from the customer. For example, if the customer says your price is too high, ask them how much they had budgeted for the purchase. Notice this is not asking how much they wanted to spend but how much they had budgeted for the purchase. With that information, you may be able to lower the payments by increasing loan length, you may be able to sell a lower cost model or you may be able to use a "take away' by asking what features they would give up to get the item for that price.
How's That Working For You?
When customers tell you they are staying with what they have now, a good question is "how is that working for you?" If you did a good job asking questions in the interview stage of the sale, you should have got them to tell you what they don't like about what they have and why they are thinking of changing or getting a new one. In the objections stage you use this information to ask how they like what they are doing (or not doing) to solve these issues. For example if they say they are putting off their decision for 6 months, you might say, "You did say your present copier is wasting 0.00 per month compared to our new efficient machine. How do you think putting it off will work out for you?"
There are many sales tactics to handle objections. The important thing is to have several ways ready to handle each objection and to practice, drill and rehearse until you are smooth and confident with your sales rebuttals.