What to do when your customer says no.
Salespeople and managers must master the ability to deal with customer objections confidently.
Merriam-Webster’s definition of the word objection is a reason or argument presented in opposition or a feeling of expression or disapproval. The following words are synonyms: challenge, complaint, difficulty, exception, fuss, protest, and question.
Successful salespeople consider objections not as arguments or disapproval but as questions or concerns that need addressing. When encountering objections from customers, these salespeople do not become defensive. They do not automatically react by giving concessions. Instead, successful salespeople slow down and ask questions. They take time and work to understand what concerns the prospect.
Salespeople often offer a discount when hit with a price objection. Instead, slow down and try one of the following to understand the price concern.
Ask about it – “ I don’t understand.” “Tell me more.” “What do you mean?” “Compared to what?”
Focus on the difference – You do not have to defend the total price when a prospect compares you to another source, just the difference. A good question to ask is if our price were the same as theirs, who would you choose? The answer will let you know what they value and why.
Focus on what your customer gets for the money they spend. Think of it as an investment and not an expense. Focus on the return. A powerful question to ask is, what matters more to you, a lower price now or long-term cost savings?
When encountering an objection, the best thing one can do is to listen, empathize, and ask about it before offering a solution. Avoid assuming you know why they are concerned; you might be on the wrong path.