Tips from The Sales Playbook on countering 2 main objections from prospects
Objections from buyers don’t have to be the stumbling blocks of the sales team.
In fact, according to The Sales Playbook (for Hyper Sales Growth) authors Jack Daly and Dan Larson, the best salespeople look at objections as a call for more information.
"Those who raise an objection don’t know enough yet. They don’t see enough value." - The Sales Playbook (for Hyper Sales Growth)
Below, a checklist of confident and clear responses to two common objections, that can make prospects see past their concerns, and lead them on their way to becoming customers.
Buyer: Your price is too high.
The Sales Playbook suggests you:
- Clarify the objection - Our price is too high? Why do you say that?
- Get clear on what they’re comparing you to, then deal with it.
- Agree then pivot - We agree. I wouldn’t expect you to buy from me if we are a truly higher cost for your company. But, savvy buyers know it’s important to consider all the cost factors, not just the initial cost. It’s not the price you pay that matters most…..isn’t it the price and profit margin that becomes your bottom line gain that matters most? Would you agree?
- Give examples of how much sales and profit can be lost by buying lower quality product that is lower price on the supply side. How much in sales and profit could you be losing due to costs of irregular quality, inconsistent products, lack of control of supply chain?
- Give success stories that illustrate the point.
Buyer: I’ll think about it.
The Sales Playbook suggests this is a classic stall, and you shouldn’t leave until you know WHY the prospect can’t make a decision:
- Qualify their level of interest Seller: On a scale of 1 to 10 where 10 is high, what is your level of interest? (wait for answer). Seller: What would it take to get you to a 10?
- Buyer: 9 = They may just need you to address a concern or make a minor concession.
- Buyer: 7 or 8 = They are a genuine prospect but a specific concern is holding them back. They like what you’ve discussed but believe there’s still….. (an issue) and they don’t want to …….(answer too soon/still uncomfortable, unanswered questions).
- Buyer: 5 or 6 (or lower) = You’re miles apart (or they’re being cagey). If they can’t tell you what it will take, mark them for a call back or put them in your touch system and move on (you’ve disqualified the non-buyers).
5 tough objections
The Sales Playbook suggests that during sales meetings, each team member writes down the 5 toughest objections they’ve ever heard and then share with the team.
Choose 5-10 from the pile of responses from the team, and then ask how everyone has responded to each objection, and how their prospects responded.
If you'd like to increase your professional development why not consider becoming a member of The Growth Faculty? One membership, unlimited access to 30 live virtual Time For Transformation masterclasses and the best live virtual events - PLUS year-round leadership content On Demand with videos, podcasts and book summaries. Join a community of knowledge seekers who are inspired by the best. Access $4350+ value for just $398 AUD. See who's up next.
Find out more about Jack Daly and how he gets the most out of sales teams by reading one of our other articles: