EP Huddle #24
Every salesperson knows how important it is to be able to effectively overcome objections and get the customer to agree to moving forward with a deal. And, every buyer knows when a salesperson is trying to overcome their objections. Too often, we hear things like "your solution is too expensive for our budget" followed by the salesperson's response "well, we can discuss a discount", or "ok, click".
The number and severity of customer objections can differ greatly based on the type of service or product being sold. Complexity, price, risk and many other factors can affect how many objections a salesperson will hear during the selling process. In order to solve these problems, it's important for the salesperson to not rush and try to resolve each objection as it comes up.
So, what's the best way to get past customer concerns and set the stage to move forward? Don't hurry through the process... Instead, ask questions to better understand their objections first. In the scenario above, the salesperson would say something like "I can understand it may sound expensive now, but tell me a little bit about the options you're currently exploring to solve your XYZ need".
Follow these steps to improve your ability to overcome objections:
Now, here's the important part.
Step 4: Ask your prospect "In addition to (that concern), what else would prevent you from moving forward with this solution?". Repeat steps 1-4 until there are no additional concerns.
Now, it's time to solve these objections by following a one-by-one approach. Reference the notes you took during steps 1-4 and work to overcome each specific concern. As you resolve each one, ask a trial close (see EP Huddle #22) to confirm that you're in agreement that the objection is no longer viable. And, then move to the next objection.
By taking these steps and waiting to overcome the set of objections one at a time, you'll see a big increase in your ability to work past customer concerns and you'll see improvement in your close rate and number of deals won.
As a team:
Discuss the common objections that you hear from your prospects and make a list of all of the ways your company can overcome them. Role play with your team to practice asking questions to clarify and confirm the objections, and then practice resolving the concerns one at a time to ensure you can work past it and gain more business.
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