When prospecting for sales, you expect to hear objections. From the simple we're not interested to the more forward get out and stay out, it's part of the process to finding a customer. Our sales guru Tibor Shanto says handling objections during the prospecting phase can be the difference between driving a BMW and driving yourself crazy.
Our goal with objections is not to avoid them, but to manage them and leverage them for success. While objections can arise throughout the sale, there are two areas where they are guaranteed, and can kill the sale, leaving you with no commission and hungry kids. The two are right at the start when you are prospecting a potential buyer, the other right before the final decision is made,
Let's look at objections while prospecting, during the cold calling. Yes cold calling is alive and well in the hands of those who know how to do it properly. The thing to remember is that when you're cold calling, you're an interruption, if your call is not scheduled you are interrupting, the best cold callers master how to take an interruption to a conversation.
With most of us trying to pack 16 hours into a 10 hour day, interruptions are not welcome, and most people try and get rid of the interruption. So what a seller may perceive as an objection is really a genuine attempt by the buyer to get back to what they were doing, just as we would. When you call, the recipient is left with a choice, do I focus on finishing what I am paid to do by my company, or do I risk my time, the only non-renewable resource I have, on this unknown and uninvited interruption. Well 99% of people chose the former, and throw up an objection to get rid of the interruption.
The good news is that by knowing this and the fact that 80% of the time they will use one of five objections to dispatch a seller. Better yet, they will usually have one go to objection, the one that has worked best over time.
So what are the five common objections we need to be ready for? They are:
The Status Quo, we're good, all set, happy with things as they are
Busy, not time
Not Interested, or not informed
Previous Bad Experience
Send me something
Knowing this, gives you a great head start, especially if you know how to handle them, we don't have time to go into that here, but if you go to the link below, you can down load a free e-book showing you exactly how to do that.