How To Handle (And Turn Around) Sales Objections

Every salesperson in B2B encounters a dozen objections almost daily. However, while many see it as the end of a sales lead, a sales objection should actually be viewed as an opportunity to learn more about your prospect’s needs and discover more efficient ways to show the value of your product to their business. 

“Treat objections as requests for further information.”

Brian Tracy, author and sales expert

 

Preparation is fundamental

 

One of the key parts in handling objections is to be prepared for it. Oftentimes, so much attention is focused on perfecting the pitch that we are unprepared for any rejection from the leads and have no response to them. 

Another crucial part is to practice attentive listening and understand the prospect’s concerns. From there, you can discern what the actual problem is and how to solve it. 

Below are some common objections that salespeople regularly encounter, and ways you can turn them around. 

 

1. Budget Concerns

 

From claiming your pricing is too expensive to not having the budget for it, price objections may often be a cover for another underlying reason. A knee-jerk reaction to price objections is usually because your prospect is fishing for a discount or bundle offer. However, there might be other possibilities.  

Here are a some of those ways to tackle them: 

 

A. They don’t think the value of your product justifies its cost. 

 

Perhaps your prospect needs more convincing of the value your product or service can bring to their organization. In cases like this, here’s what you can do: 

• Explore exactly why your prospect thinks that your solution lacks value. 
• Present the facts of your product’s performance and ROI, linking them to your prospects’ specific concerns. 

• Present KPIs and testimonials from your own clients to prove your solution’s value and how it is beneficial to their business. 

 

B. Budgets are frozen. 

 

Particularly during a crisis that affects the global economy, it is expected that most companies will tighten their budgets. What can you do? 

• Explore why their budgets are frozen. Approach this with empathy while also discussing what they might be missing out on if they do not invest in new opportunities right now.  

• Elaborate on the potential of taking a risk to actively gain market share during a crisis.  

 

C. It is not a priority right now. 

 

In a prospect’s business acumen, they may allocate certain budgets that they consider as a priority. You can strategically pivot their priorities by creating a dialogue with prospects for the following weeks or months.  

• Highlight the importance of taking a risk in investing in new business opportunities. 

• Present research on the potential loss in market share if they do not consider your solutions as part of their business expansions. 

Whatever the reason behind their objection to your pricing, refrain from lowering your prices or offering discounts and offers hastily. Ensure that you find out the exact root of their problem and shift your prospect’s attention from the price to the benefits your product offers to them. 

   

2. Delaying the Final Decision

 

Sometimes, your prospect appears to agree with your solutions but does not commit to a final decision. At the initial pitch, you were confident this is a strong prospect, but you came away with no results or contract. The B2B sales cycle is delayed because you tend to spend a long time following up just to close that deal.  

Some common responses you might get are: “I will get back to you soon” or “I don’t have the time to decide yet”.  

This can happen even if you are already connected to the right decision-maker in that company. At this point, it is critical to distinguish whether it is a quality prospect. To do that, you must create urgency by asking them how long the company can wait as a business to start accelerating.  

You may get one of three responses: 

 

A. They have concerns about your product. 

 

In this case, you can follow up with further information that addresses their concerns directly. Make sure to answer every concern and question they have specifically and concisely. Present data and testimonials to prove the efficacy of your offerings. You may even propose a follow-up meeting or demonstration. 

 

B. Management is struggling to decide. 

 

This is a common problem, particularly when solutions and products involve multiple management teams and departments. What you can do is precipitate a discussion with the management team by planting a sense of urgency in your prospect. Ask them how a delayed decision would affect their company’s ability to grow and stay competitive. Paint a picture of necessity and competition.  

 

C. They will reject your offer. 

 

If this happens, at least you now know where you stand. If a prospect is clear that they are not interested, you can just mark them down as a “no” and move on to your next lead. There’s no use chasing after a dead end. 

 

3. Afraid to Invest in New Innovation

 

With the recent and ongoing global crises, some products and services are perceived as irrelevant in tandem with changes in market behavior. To make the most of this situation, your enterprise innovates a new solution to offer leads. But as a sales professional, it is challenging to pitch a new product or service that has no reports to showcase. As an effective sales professional, you need to expertly spin these objections to your advantage.  

 

A. “We cannot invest in something new.” 

 

It is vital to equip the team with as much information as possible to avoid hiccups and objections. You can collaborate with other departments like marketing as a support to the sales funnel. Equip yourself with marketing materials that interpret the vision and dream of your company’s solutions. Some marketing materials that could be useful are video trailers, brochures, infographics, and social media posts for new branding. You’re not just selling a product; you’re selling a vision. 

 

B. “There is no guarantee your solution would benefit us.” 

 

The first step in diving into new products or services is to be confident in what it offers. It would be hard to convince your prospect of the usefulness of your product if you, as a salesperson, are not confident in it yourself. 

Apart from displaying confidence in the product, you should also position it as a solution that could surpass their expectations. You could also tap into positive thinking by asking them: “how can you not believe in something you never experienced?”.  

This could trigger a deeper conversation about your prospect’s needs and build trust. This is the prime time for you to influence them in taking a leap of faith with a more positive outlook. 

 

4. Lack of Need

 

A prospect describing a lack of need is an opportunity for you to showcase exactly how your product is addressing a gap they didn’t even know they had. You know your product better than anyone else, so you are in a unique position to demonstrate exactly how it can be the solution they didn’t know they needed.  

 

A. “This doesn’t help me.” 

 

On the surface, this seems like a difficult objection to overcome. Instead, you should treat it as a request for more information – and get more information from your prospect in return. Use layered and open-ended questions to evaluate your prospects’ needs in more detail. Gong found that top salespersons tend to respond to objections by asking open-ended questions at a rate of 54.3% of the time compared to just 31% by average performers.  

Ask your prospects: “Why do you think this doesn’t help you?” or “What are you struggling with right now?” From there, leverage this new information to demonstrate how your solution can add value. Present them with a tailored solution that fits the gaps you have found. 

 

B. “This isn’t a problem for us right now.” 

 

Here is a good opportunity to find out if it is a timing issue or if the prospect is disinterested. Do this by asking them why it is not important right now or what other priorities have their attention now.  

Pay attention to their responses to figure out if they have legitimate timing concerns. If they are simply justifying inaction, you have an opening to stoke urgency and trigger deeper discussions with decision-makers.  

 

C. “We’re happy with our current setup.” 

 

This could be a sign that your prospect is afraid of change. Fear of taking the leap can lead to many prospects brushing off a product or solution before truly understanding how it can benefit them and their business. This can be remedied with more information, specifically on the problem that your product solves and how it can benefit the organization’s bottom line.  

Bring up case studies of your prospect’s competitors who have made similar changes, then point out just how your products can give them an extra edge. Fear is a common reaction to change, you must also be able to soothe prospects by showing them examples of positive change within their industry as a means to boost their confidence in making an investment.  

 

5. Lack of Trust in Value Offered 

 

People prefer to do business with partners they know and are familiar with. Trying to reel in a new prospect can be difficult without first establishing trust. And some prospects need more than others before they are willing to close a deal.  

What you need to do is build credibility in your product, your value as a salesperson, and your company.  

 

A. “I need to think about it.” 

 

This is usually an objection that combines concerns about budget, need, timeliness, and lack of management buy-in. When a prospect doesn’t see value in your project, that means there isn’t enough trust or certainty in what you are offering.  

You must quickly and effectively demonstrate to your prospect that you can be trusted. This means showing them that you are capable as a salesperson and that you know what you are talking about. Have your numbers and data on hand, be prepared with examples and research. You must also show integrity in your interactions and reassure them that you genuinely want to help them.  

Match the values of your product and those of your prospects. Aligning those will bridge that gap and create trust. 

 

B. “I don’t think this will do what I need it to do.” 

 

Effectiveness is a major sales objection that is tricky to get past, and crucial to overcome. Though it may not be as common as some of the other objections mentioned, it’s handy to be able to jump over this hurdle. When a prospect questions the effectiveness of your product in addressing their needs, you need to first dig deeper into their concerns.  

Ask them what exactly they are concerned about, and what areas they worry about that might be lacking. With those answers in mind, you can demonstrate the efficacy of your product. Use the tools hand – provide a live demo, use virtual or augmented reality for that hands-on experience. 

 

C. “I’ve not too familiar with your company.” 

 

A prospect will have heard of your company before, but they may not be as familiar with your reputation. Your job at this point is to jog their memory and present them with your best foot forward. You can nurture a prospect through your sales cycle by building confidence – show them your track record and success stories.  

Take this opportunity to showcase your organization’s authority in the market and exactly how your solutions add value to your existing clients. A perfected elevator pitch can be immensely helpful in overcoming this particular objection, especially with a prospect that genuinely hasn’t heard of your company before. 

 

Make Objections Work for You 

 

Embrace the fact that objections are part of the sales process, and they act as an opportunity to grow. Be on your prospects’ radar to make sure your company has enough visibility. Importantly, following up – even if you get a rejection, it is better to know straight away and move on to more promising leads. 

In time, you will be able to create a new basis pipeline. Your prospects may not be converted into sales instantly; hence consistency is the key. You can plan strategic follow-ups for the following weeks or months and establish a close relationship with prospects.  

“It’s not your customer’s job to remember you. It is your obligation and responsibility to make sure they don’t have the chance to forget you.”

Patricia Fripp, executive speech coach and sales presentation skills trainer.