Here’s a fact for you: Objections are good. Objections indicate interest. Successful sales pitches receive twice as many objections as unsuccessful ones.
To handle objections effectively, hear out your prospect completely, without interrupting. Remember that listening builds trust, even — or perhaps especially — when it comes to objections. Compliment your prospect by saying something such as “That’s a good question! Let me see if I can answer that for you.”
Here are three responses you can use to counter any objection:
- First, pause, smile and ask, “How do you mean?” This question is almost impossible not to answer. You can use it over and over again. How do you mean?” or “How do you mean, exactly?”
- Another response to an objection might be “Obviously you have a good reason for saying that. Do you mind if I ask what it is?” Often your prospect does not have a good reason for objecting. Probing may uncover that fact.
- The third way to handle objections is by using the “feel, felt, found” method. When a customer says something such as “It costs too much,” you can say “I understand exactly how you feel. Others felt the same way when they first heard the price. But this is what they found when they began using our product or service.” Then explain that the benefits to the customer are greatly in excess of the cost.
One final point with regard to objections: Fully 94 percent of sales in America are made not on the basis of price. Usually, objections based on price are actually objections based on other things. Your job is to find the real reason for your prospect’s objection.