It is inevitable that you will face objections in sales. The key is how to effectively handle these objections to benefit you in the end. The following strategic and tactical approach helps you in dealing with objections in the most efficient way possible.
1) Acknowledge the objection
Respect the customer’s opinion by actively listening and give them a chance to explain. Avoid getting defensive, arguing or attacking back. Validate their opinion by repeating it back to them to show your understanding.
2) Understand what is driving the objection
Before you start to answer the prospect’s objection, it is important to have a thorough understanding of why it exists. Look to understand before providing an idea. Ask exploratory questions to better understand their past and the reasoning for the objective. Uncover the need behind the need to help you better understand how to help them moving forward.
3) Address their root causes
Once you have gained an understanding of the objective, you can then address it. Explain how your unique value proposition will help them moving forward. Educate the customer on the cost vs. Price and reinforce where you can provide value to their needs.
4) Move them back into the buying conversation
Once the objection has successfully been addressed, aim to transition the conversation back to the sale.