It's always a little bit awkward when a customer tells you your product is out of their price range. So what do you say?
The key is to focus on value. Don't just talk about how much money they'll save by buying your product - talk about how it will improve their life. By focusing on the value of your product, you can help the customer see how it fits into their budget.
Once you've established the value of your product, it's time to close the sale. Give your customers a reason to buy now to encourage them to buy.
For example, maybe you're running a special promotion, or you have a limited supply - whatever the reason, make sure the customer knows there's a benefit to buying now. If you can do this, you'll be well on making the sale.
2. “Send Me an Email With the Information”
Customers will often say they need more time to think about a purchase or that they'll buy online. In either case, you don't want to lose the sale. Instead, say something like, "I completely understand.
But before you make your final decision, I wanted to let you know that we offer a 25% discount for customers who purchase today. I can give you the details in an email." This allows you to close the sale while giving the customer the option to buy later if they choose.
You can also add a sense of urgency by saying, "This offer is only available for a limited time." If the customer still isn't sure, you can offer to send them additional information in an email so they can make an informed decision. By providing value and giving the customer options, you're more likely to close the sale.
3. “I Need To Discuss This With the Boss”
If a prospect tells you they need to discuss something with the boss, it's essential to stay calm and keep trying to close the sale. First, try to find out the specific issue they need to discuss with the boss.
Once you know the issue, you can address it directly and try to resolve it. If the prospect is still adamant about speaking with the boss, you can set up a meeting with their boss so you can talk to them directly.
In most cases, simply speaking with the boss will reassure the prospect and close the sale. However, if the prospect is still unsatisfied, consider giving them a discount or some other form of concession to close the deal.
4. “Right Now Is Not a Good Time for Me To Do This”
This objection can be tricky, but it's definitely possible to close the deal if you handle it correctly. Again, find out the real reason behind the objection.
Once you know the reason, you can address it directly and offer a solution to make the customer feel comfortable moving forward with the purchase. For example, if the customer is concerned about the price, you could offer a payment plan or a discount.
Also, you could offer a trial period or a money-back guarantee if they're worried about commitment. Whatever the reason, there's likely a way to overcome it if you're creative and flexible.
5. “I Need a Few More Quotes Before I Agree”
If a potential customer tells you they need a few more quotes before making a decision, staying calm and professional is essential. Try to emphasize the unique features of your product or service.
For example, if you're selling insurance, you could point out that your company offers lower rates for good drivers. If you're selling a new car, you could highlight the improved safety features. By showing the customer why your product is the best option, you'll be more likely to close the deal.
6. “I Found Another Product To Be Cheaper Than Yours”
First, find out why the customer feels the other product is cheaper. Is it because it's a lower-quality product? Is it because they're getting a bulk discount?
Once you know the reason, you can counter their argument. For example, you might point out that your product is of higher quality and will last longer or that you offer free shipping or a money-back guarantee. You can also try to match or beat the other product's price.
7. “I’m Committed to Another Contract at the Moment”
You don't want to hear that your prospective customer already has another contract when you try to close a deal. First, try to find out more about the other agreement.
What are the terms? When does it expire? Is there any chance of it being renewed?
Your prospect's situation will help you determine whether you have a realistic chance of winning them over. Second, emphasize the unique benefits of your product or service. If you can show that you offer something that the other contract doesn't, you'll be in a much stronger position to win your prospect over.
Finally, don't be afraid to be persistent. Make your case if you believe your product or service is the right fit for your prospect. You can overcome this objection and close the deal with a little effort.
8. “Do You Offer X Feature”
How you handle this objection will be critical in determining whether or not you close the deal. If you're caught off guard, you may be tempted to simply agree to add the feature in question, regardless of whether it's feasible or not. This is a mistake.!
You will likely end up over-promising and under-delivering, and you'll also lose credibility with the prospect. Instead, try taking the following approach:
First, establish why the prospect is interested in that particular feature. What need are they trying to address? Then, see if there's another way to meet that need without adding the requested feature.
If there isn't another way to meet the need, explain why your product or service doesn't currently offer that particular feature - but stress that you're always looking for ways to improve and would be open to revisiting the idea down the road. Your customers will appreciate your willingness to go the extra mile, and you'll avoid making promises you can't keep.
9. “I Don’t Have Time To Talk About This”
Try this approach the next time a prospect tells you they need more time to discuss your product, service, or solution:
Empathize with their predicament by saying something like, "I completely understand; there's never enough time in the day."
Validate their objection by agreeing that taking on a new project can be daunting and time-consuming.
Offer a solution to their problem by suggesting that your product, service, or solution will save them time in the long run.
Close by asking for the sale or setting up a future meeting.
By empathizing with the prospect's objection and offering a solution, you'll be able to overcome this objection and close the deal.
10. “You Have Bad Reviews on Google”
Google reviews can be a tough sales objection to overcome. A few bad reviews can feel like a personal attack if you've been diligent about maintaining a good online reputation.
But it's important to remember that everyone gets negative feedback from time to time - even the best businesses worldwide. Rather than taking it personally, use it to demonstrate your commitment to customer service to your prospect.
Here are a few tips for handling this objection:
Thank them for bringing their concern to your attention and start acknowledging them.
If possible, address the specific issue they mention in the review.
Explain how you typically handle negative feedback and what steps you take to ensure that all your customers are satisfied.
Reassure them that you're always open to feedback and constantly working to improve your business.
Using these techniques, you can turn a potentially disastrous sales objection into an opportunity to build trust with your prospect.
Now You Can Combat These Common Sales Objections and Close Deals
After reading this blog post, you should feel armed and ready to take on any objections that come your way during a sales pitch. The key is listening to the objection, understanding where it's coming from, and then provide a customized response to help overcome the objection and close the deal. Also, remember practice makes perfect.