Every business owner needs to face many sales objections from their customers in their sales process. Here are 10 most common sales objections business owners hear from customers and how to tackle them.
#1 Price – “Your price is too high!”
Price is an important concern for many people and is one of the most common sales objections. You might have heard something like “Your price is too high!”, “Our budget is small!” etc. from your customers.
Don’t try to push your price down straightaway, instead of that show the “unique value” of your product or service. List the weaknesses of other low priced products or services, and tell your prospects why your product/service is better than your competitors. You should make them understand your product/service is worth their money.
#2 Sharp Rejection – “I’m not interested!”
Some prospects don’t even want to know/hear more about your product or service. They may reject your offer straightaway by saying:
“I’m not interested!”
“Sorry, I don’t need your product.”
Well, this might not be your mistake, not even your product’s or service’s.
Remember, customers are people. They are often associated with a lot of problems in their personal and professional life just like you. So, you need to be a bit more creative as well as patient to deal with this sales objection.
Your first step is to cheer them up and make them interested in talking with you. Get your communication going and anticipate them to know more about your products/services, their features, benefits etc. If they start asking you questions, that’s a good sign.
#3 Late Decision – “I’ll take my decision after checking the quotes received from others.”
This is also one of the most common sales objections of many buyers. Even if you offer a “perfect” product or service, some buyers always take their purchase decision very late. They may want to check multiple quotes and go with the better option.
Here are a few objections you may hear from them:
“I’ll take my decision after checking the quotes received from others.”
“I’m in a process of comparing similar products to take my final decision.”
Keep in mind that the buyers with these sales objections are a bit tricky and they tend to analyze each alternative carefully before taking a purchase decision. Here you really need to stand out from the rest to win their heart. Raising urgency can be a good option; something like a limited time offer, special bonus/discount etc. for instant purchase may work.
#4 Time – “I just don’t have the time right now, come back later.”
Time is precious for everyone, and it is one of the most common sales objections people have. You need to value your customer’s time, but you also don’t want them reject your deal. When it comes to sales, you’re more likely hear the excuses like “I just don’t have the time right now, come back later.”, “Sorry, I’m too busy right now.” etc.
If the sales objection is regarding time, you should never pressurize your buyers to do something for you in a hurry! Instead of that, you need to grab their attention as quickly as possible and make them reserve some time for you.
To do this, first you need to reassure them that this is not a buying conversation. Then, show up the benefits/value they are going to get, which they can’t find elsewhere. If you can establish an ongoing communication with your prospect, that would be great!
#5 External Input – “I need to discuss with my partner.”
Most buyers need an opinion or suggestion of others prior to taking a purchase decision. They may want to consult with their business partners, colleagues, family members or even friends to take the right decision.
You often hear something like “I need to discuss with my partner.”, “I should consult with my wife.” etc. from your prospects.
This sales objection isn’t that serious, so you don’t have to be nervous. Anyway, in order to keep your sales hope alive, you can try to arrange a joint meeting between your customer and their counterparts if possible. If you get it right, you can convince both of them and this will increase your chances to close the deal.
#6 Complacency – “I’m happy with the current product/service I use.”
When you want to sell a new product/service to your prospects, you may often hear something like “I’m happy with the current product/service I use”, “The current service is ideal for me” etc.
This might not be the case. Perhaps they are not completely aware of the importance of your product, or they don’t have much knowledge about this new opportunity.
In this case, you need to take an extra step to convince your buyer about how your product will positively change their lifestyle or industry. Highlight the benefits they are going to get when they choose your product or service.
To support your claim, share some proofs or successful stories such as case studies, testimonials etc. of your previous clients. You can also share the successful stories of your customers’ competitors who have used your product or service. Try to boost their confidence and make them realize they will get nothing less than success.
#7 Fear of Change – “I’m afraid, but I don’t want to change it right now.”
Many customers are reluctant to make a change in their current scenario. It doesn’t mean that they are fully happy with their current product or service. They might be scaring of a “change”.
“I’m afraid, but I don’t want to change it right now.”
“We don’t want to take any risks.”
Your prospects might be either scared to take a new decision or don’t want to take risk. Here your duty is to remove their fear and increase their confidence. Show how this new change will bring positive outcomes to them. Prove your point with past examples like how others implemented this change and how they got succeeded.
#8 Unawareness – “I haven’t heard about it before, it’s quite strange to me!”
You might have heard something like these sales objections before:
“I haven’t heard about it before, it’s quite strange to me!”
“I’m not sure how it (your product or service) is going to work for me.”
Don’t be panic. Perhaps your prospect may be a newbie or someone who is not familiar with your product/service. They might not even know how to use your product/service in their favor.
It is your duty to teach them about your products/services and their specialties. They need to understand each and every aspect of your product or service.
So you should provide them more details as well as easy-to-understand instructions about the process. Also, show them how your product or service will solve their problem. This will make them interested in your product/service.
#9 Competition – “I would have accepted your proposal, but sadly I already have a contract with another guy.”
Competition (also called as “personal politics”) is another sales objection that is very common. You might have heard something like this from your prospects.
“I would have accepted your proposal, but sadly I already have a contract with another guy.”
“I’ve promised my friend that I’ll choose him.”
Here your challenge might be one of your competitors.
Well, you need to be smart in this case. The first step is to make your buyer think about your “uniqueness”. You need to show them what makes you unique and how they can benefit from your product or service.
Literally, you need to change their mindset by highlighting your uniqueness. This is the time to prove them that you’re better than your competitors.
#10 Trust – “Let me think about it.”
Trust is obviously an essential factor in business. Even if your product/service has a lot of qualities, no buyers will buy it if they don’t trust you.
You might have heard these sales objections from your prospects before.
“Let me think about it.”
“I’ll contact you if I need it in the future.”
For building trust, your customer should realize you’re consistent and honest with your claims and offers. Plus, they need to understand the value in your product or service.
Show them case studies, proof for your previous experience with a popular person/brand, recommendations, testimonials etc. You can also offer guarantees and return policies, like 30 days money back guarantee, full replacement guarantee etc.