Overcoming sales objections in 2023
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.
Key Points:
- Sales techniques have changed as buyers have become more
knowledgeable.
- More than ever, finding pain points is crucial in making
sales.
- Objections haven't changed as much as we think.
Old sales techniques don't work anymore
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It's not that those sales objections are outdated; it's just that you could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.
How sales techniques have changed
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."
William Clement Stone
Use your discovery calls
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.
Sales technique examples for 2023
Here are some examples of standard sales techniques that have stood the
test of time and become more relevant in 2023.
-
The "personalized" technique: Use sales enablement tools such as customer relationship
management (CRM) software and social media (such as LinkedIn) to gather and analyze data
on the prospect's company and needs. This will allow you to customize your pitch and
address the prospect's specific pain points and goals.
-
The "demonstration" technique: Use product demonstrations or trial periods to give the
prospect a hands-on experience with the product/service and help them visualize how it
will solve their problems. You should specifically focus on the prospect's pain points
gathered in the discovery call.
-
The "social proof" technique: Use sales enablement tools such as customer testimonials
or case studies to demonstrate other customers' success with the product/service.
Testimonials or endorsements on social media work particularly well.
-
The "visual aid" technique: Use charts, graphs, or slideshows to help the prospect
understand the value of the product/service and how it compares to alternatives. You
need to focus on the client's specific pain points, like the demonstration technique.
-
The "proposal" technique: Use well-organized proposals that address the prospect's
objections and outline the benefits of the product/service.
Wait! You're not using your Sales Playbook?
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.
Common objections and how to overcome objections in 2023
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:
-
Address the pain points:
The most critical aspect of closing a sale is finding the unique pain points experienced
by that potential client. Finding the pain points can eliminate objections.
Background
research is vital.
-
Always be closing:
You should have a plan from presentation to closing and follow it. You can't adlib or
delay. Ask a minimum of three loaded questions where the prospect must agree with you by
saying "yes." Get the commitment as soon as you can.
-
Get it signed:
Your last closing should be to ask for the contract signature for a business-to-business
sale or for you to ask which card you would like to use for a retail sale. Always ask
for the sale.
-
Wait for the signature and shut up:
No, we mean that. After asking for the signature on the contract or which card will be
used, it is time for the salesperson to be silent. Resist the urge in the silence to
re-pitch. If you do, you've lost. You need to let them tell you their objection (if they
still have one) so you can rebut it. Otherwise, you are just shooting in the dark. Let
them tell you why they are not going to buy. Don't open up new objections and talk
yourself out of a sale.
For 2023 here are some common objections:
It's too expensive
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.
It's not the right time
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.
It doesn't meet my needs
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.
It's too complicated
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.
I'm with your competitor
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.
I'm not ready to make a decision
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!