5 Popular B2B Sales Objections and How to Address Them
What is the first thing the company does when a new sales manager is hired? I’m guessing the sales manager spends a significant amount of time educating the new employee on the ins and outs of the product or service. But do they ever delve into the actual art of selling, something that would aid in the development of a sales rep’s actual selling foundation? Salespeople are mostly untrained on how to deal with consumer objections.
According to SiriusDecisions, 54% of sales reps struggle to meet their targets. For such a high percentage of them, it’s important that they learn how to object. If a prospect shows apprehension or poses a possible objection, all is not lost.
Sales reps who are familiar with common objections are better armed with tactics or solutions to help them overcome certain possible roadblocks. They are no longer caught off balance, unsure of what to say, but instead are prepared to deal with any opposition a prospect can throw at them.
At the screen, a smiling customer service agent with an afro wears a headset.
Here are five of the most common B2B sales objections, along with simple solutions for how to deal with them.
1. “It’s just not the right moment.”
Explain to the prospect that, while you realize they aren’t looking for your product or one close to it right now, what you have to offer will help them run their business more efficiently. What company wouldn’t want things to go a bit more smoothly?
If their business is going through a major transition, such as a technological implementation or an acquisition, find out when it will be completed and offer to follow up with them once things have returned to a more normal pace.
Most importantly, don’t forget to follow up! Make sure you follow up with someone if you say you’ll follow up next month. Make a calendar invite or a CRM mission, then follow through with it.
2. “I am not in a position to make such a decision.”
Even if the person you’re talking to isn’t the one who makes the final decision, they can still pass along important details about your product to someone who is. Furthermore, if they are heavily involved in the environment you are inquiring about, they will almost certainly engage in the decision-making process at some stage. After you’ve assisted this individual in seeing the need, request that the final decision maker be included on the next call.
3. “We don’t have enough money in the budget for this.”
The reality is that there is an easy way to completely stop hearing this objection: don’t ask any budget questions until a need has been established.
First and foremost, teach the salespeople to concentrate on the value you’re providing to potential customers. Discuss ROI and how other companies have had measurable outcomes, if appropriate.
If money continues to be the only barrier between you and them, find out when they set their budget for the coming year and follow up with them often in the months leading up to that date. If at all necessary, be inventive with the funding choices or provide them with a temporary credit to try out your product or service.
4. “We already have a system in place that is identical to this.”
If they already use a similar product to yours, the answer is as easy as asking for more information on their new product.
Reps will understand what prospects like and hate about their current approach by learning more about their current situation, and will be better able to devise strategic responses to convey the benefits of converting to their product or service.
It is important for sales reps to be aware of their competitors. If this objection comes up during a call, it may be helpful to give each of your reps a cheat sheet of key discrepancies between yourself and your rivals to highlight.
5. “We’re not interested,” says the narrator.
When this objection arises right away, the main problem is usually not what is being discussed. For example, the person could be on their way to a meeting or rushing to meet a deadline and simply does not have the time or energy to discuss implementing anything new right now. Train your team to figure out if they’re really connecting at the wrong moment.
It’s also likely that the person you’ve been connected with isn’t the right person for your product discussion, similar to what we’ve already mentioned. Train your sales rep to respectfully inquire about the person’s involvement in the subject you’d like to address. Each organization is different in its nature and may have different decision makers than the usual, so even though your sales rep did their homework before calling, they may not have connected with the right person. It’s possible that the individual is uninterested in your product because it has nothing to do with their job.
Why put it off any longer? Right now, train your sales development team to deal with these popular, but easily overcomeable sales objections. It takes time to master the art of managing objections, and frequent monitoring and coaching will help to strengthen these best practices. Reps must be imaginative in order to overcome objections; knowing these 5 common sales objections will give them the trust they require. It can also mean the difference between missing the sales goal and blowing it out of the park
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