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Overcoming Objections

What are objections?

Objections are statements or questions someone raises during a conversation or negotiation expressing doubt, disagreement, or opposition to a proposal or idea. They are a common and natural part of any conversation or negotiation and can be raised for various reasons. Objections can be used to express concerns, raise questions, or seek clarification on a specific issue.

Examples of objections include:

  1. “That’s too expensive.”
  2. “I don’t have the budget for that.”
  3. “I don’t see how that would benefit us.”
  4. “I need more information before I can make a decision.”
  5. “I’m not sure that’s the best solution for our needs.”

Objections are important because they allow the other person to address concerns, provide additional information, or make a counteroffer. They also help to identify potential roadblocks to agreement and allow the other person to address them and move the conversation or negotiation forward.

Objections can also be used to gain more information by asking more questions or providing more information to clarify the situation. This is why it’s essential to understand the underlying reasons behind an objection and address them directly.

Overall, it is essential to be prepared to handle objections professionally and effectively by listening actively, responding thoughtfully, and addressing the underlying concerns or issues raised. This can help to build trust, establish credibility, and ultimately, achieve a successful outcome.

Why buyers have objections

Buyers may have objections for a variety of reasons. Some common reasons include:

  1. Cost: The buyer may believe the product or service is too expensive or not within their budget.
  2. Risk: The buyer may be hesitant to decide because they are unsure of the product or service’s effectiveness or reliability.
  3. Lack of information: The buyer may not have enough information to make an informed decision.
  4. Timing: The buyer may not be ready to decide at the current time.
  5. Alternatives: The buyer may consider other options or have a pre-existing relationship with a different vendor.
  6. Personal beliefs: The buyer may have personal beliefs or biases that influence their decision-making process.
  7. Decision-making process: The buyer may be part of a complex decision-making process requiring multiple stakeholders’ buy-in.
  8. Trust: The buyer may not trust the seller or their company.
  9. Power of Habit: The buyer may have been doing things the same way for a long time, and it’s hard for them to change their habits.

Buyers may have objections to any of the above reasons or a combination. Understanding and addressing these objections is essential to help the buyer decide. By identifying and addressing objections, you can help to build trust, establish credibility, and ultimately achieve a successful outcome.

Common ways to handle buyer objections

There are many ways to handle objections, but some common techniques include:

  1. The “Feel, Felt, Found” method: This technique involves acknowledging the customer’s objection, empathizing with their concern, and then sharing a similar experience that you or someone else has had and the outcome. For example, “I understand how you feel, I’ve felt the same way before, but what I found is that (add your solution or benefit)”.
  2. The “Assumptive Close” method: This technique involves assuming the customer will agree to your proposal and moving forward with next steps as if the objection has been overcome. For example, “Great, now that we’ve addressed that concern, let’s go ahead and schedule the installation.”
  3. The “Ben Franklin Close” method: This technique involves listing the pros and cons of your proposal and then allowing the customer to weigh the decision. For example, “On one hand, this option is more expensive, but on the other hand, it includes more features and a longer warranty. Which option do you think would be best for you?”

It’s important to understand that no one technique is suitable for all situations, and it’s good to have a variety of techniques in your toolbox. It’s also crucial to listen actively, respond thoughtfully, and address the underlying concerns or issues raised to build trust, establish credibility, and, ultimately, achieve a successful outcome.

Read More : Understand the Business Operating Model.

Updated on June 27, 2023

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