Are you feeling overwhelmed with sales objections in 2023? With a recession in sight or already here, signing the deal has become more difficult. But there are ways to convert buyers that connect with today's "pain points" and close more sales.
Stop using sales techniques from your Blackberry days.
There's a reason why we don't use Blackberry phones anymore. So why are you using closing techniques that date back to before your old blackberry bold? It's not that those sales objections are outdated; it's just that you could do so much better.
Clients are much more sophisticated. With the use of social proof, social media, groups, and review sites, consumers are more educated than they ever have been. But they also aren't because having product knowledge isn't the same as solving problems.
Sales is still very much alive, but it has become more about solving problems instead of offering shiny new things. The focus is now on building relationships, solving problems, and giving value.
To help with this, salespeople have tools that, if used correctly, will convey knowledge, trust, and guidance. Sales reps should use data from their CRM Software, Sales Playbook and social media platforms to research clients, their industries, and their backgrounds.
Closing techniques still matter and are very much alive in the age of information overload with short attention spans.
"Sales are contingent upon the attitude of the salesman — not the attitude of the prospect."
Use your discovery calls to determine the sales techniques you need. During your discovery call, ask open-ended questions to assess the client's pain points and the type of buyer you are dealing with. When you are on your discovery call, you should be sure to ask these questions.
Here are some examples of standard sales techniques that have stood the test of time and become more relevant in 2023.
The sales playbook is a central database for all the objections and specific answers based on your existing customers and buyer personas. It will also have all of your content and collateral. TigerLRM users all have access to their playbooks, and all of your staff should have access to your Playbook.
Don't be convinced that it's a brave new world for sales objections in 2023. While client "pain points" have evolved and product information is everywhere, the method of overcoming objections is the same.
Make sure to:
The price objection is older than a rotary phone. Your client will say the price is too high and won't buy. Clients typically use this objection when they are not convinced of the product's value. Clients who are confident of a "value" will pay. Sometimes well beyond what the value of a product or service truly has. The budget will be there if you focus on their unique pain points.
The rebuttal for a price objection can be as simple as this. "Sure, I understand our pricing structure may be slightly higher than the competitors you've been looking at. No one wants to waste money. However, our service has a higher reliability rate, superior quality, and much more value long-term – saving you and your company money." Next, you'll need to ask for the sale. Ask them to sign the paperwork, put down a deposit, or show another sign of agreeing to the deal. You should also be quiet during this time and let the lead tell you if there are more objections.
Don't think this will work? Think again; retail companies such as Apple, Nike, Wholefoods and others use this approach.
The "But it's not the right time" objection is about as old as a telegraph. A variation on this is the "we've already used our budget for this year, or can you send more information? I'll get back to you." This is often used in business-to-business sales and for larger consumer purchases. You'll need to show the value to get your client to commit. Clients who are convinced that your service is right for them will signup even if implementation comes at a different time.
The rebuttal for a timing objection can go like this. "Of course, timing is important. We want to match up our service to when your budget becomes available. What specific event or deadline are you working with? When will your new budget become available? We can create a road map for implementation that matches your finances." After that, you'll need to get the sale by asking the client to sign the contract and putting down the money. You can always say, "So let's get this started." or something similar.
Large enterprise companies such as Microsoft, IBM, and Oracle often use this approach. Even in retail, small companies use "buy now, pay later" plans.
At TigerLRM, we believe the SE Pro must play a part in the sales process. They ensure that staff is adhering to the guidelines in the Playbook. This is accomplished by running reports, looking at the CRM data, and reviewing emails and recorded calls.
The "doesn't meet my needs" is an objection that usually indicates that you (the salesperson) haven't truly found your client's pain points. This is a valid concern by the buyer that your product/service won't solve their issue.
This rebuttal can include, "I understand that our product/service doesn't seem a good fit, but that could be because I'm not sure of the specific needs you are looking for. We have various options and products and can modify our service for your exact needs. What is it you were originally looking for?"
Many companies, including Amazon Web Services, FexEX, and Citi, offer highly tailored services for individuals, small businesses, or enterprise organizations.
This is a more recent objection. With technology rapidly advancing, some solutions may seem too complicated. Here at TigerLRM, we sometimes have to explain sales enablement and how each client can benefit from the process. If the decision maker doesn't understand how methodologies or technology will enable them to solve their pain points, they won't buy. You'll have to break down the process into understandable steps and avoid using jargon and buzzwords.
In your rebuttal, you could mention, "Yes, I understand that the process may seem complicated right now, but our team will be working with you to ensure you and your team will understand each step of the implementation process. After it's set up, you'll be able to know how to make changes and updates. This system will save you time and money in the long run."
Many companies offer services with a simple interface but are complex in nature. Cloud computing from Google (Such as Google Docs, for example) and other companies is easy to explain "you just use your web browser," but very complicated. Try explaining servers, software, databases, and more to someone who only needs to type documents. Keep your explanations as simple as possible.
This, too, is an old objection. In this case, the client is used to working with the same company or has chosen them because they believe them to be a better fit. The salesperson's job is to educate the potential client on your company's solutions that competitors do not offer.
A rebuttal can mention, "Yes, I understand you are working with our competitor, and they are a wonderful company; however, our product/service has some unique solutions that our competitors simply do not have." You can also add, "In fact, our produce/service matches your "pain-point" in a much better way, then demonstrate exactly how. Then to get the sale, you can say, We have complete onboarding and can get started this week.
This objection is the old "paralysis analysis." This is when the client has too much information and too many options, none presenting a clear solution. Your job as the salesperson is to find the motivations and pain points and ensure your product/service provides a clear solution.
POWER TIP - As you enter objections and rebuttals in your Playbook, make sure to have staff meetings to find out the best practices for dealing with objections in your industry. Be sure to roleplay and use real-world examples. A sales Playbook also helps train new hires and bring other staff members into compliance so they know exactly what and what not to do. You don't get consistent sales by guessing or making things up. Use proven methods that work!
Remember, the key to overcoming objections and rebuttals is to listen to the prospect's concerns, find their pain points, address them directly, and use persuasive language and evidence to demonstrate the value of your product/service. You can use your sales enablement methodology along with various proofs to increase your closing ratios and win more sales.
To assign a sales enablement user, simply go to Administrator > User Management > Edit User.
Once you are on the user's information, you can select if you want them to be "Non-Admin," "Admin," or part of the "Enablement Team." Save this information, and your desired user will have the right access.
You can access your Dashboard here.