Are Objections Harming My Business? Part 2

Yesterday we examined a couple of situations in which a business owner believes he or she is not encountering objections in their business.

Today, let’s look at a few more situations, where said business owner is aware of a sales problem, though perhaps not the specific role objections can play.

I have dozens of sales conversation, but very few conversions

Did you see it?

This is the same as the previous situation. The only change is the individual’s point of view.

The problem is focusing only on the end result of “No”. Examine those conversations: did all those people actually say “No, and never call me again”? More likely they gave you reasons, ideas and excuses as to why they couldn’t move forward. These are objections, and should not end the sales conversation.

I lose sales due to price

A majority of the times I have heard this sentence, it turned out to be incorrect.

A deeper examination of these cases, and, where possible, interviews with the prospects in question, tend to reveal a variety of concerns that are not related to price. To put this in its most simple terms: assuming you have an appropriate pricing strategy, and you are talking to the right client profiles, then the price should be right. The mismatch is most likely in the timing, the product outcome or the service.

Examine exactly what you were trying to sell to this prospect: you may have made an error in managing expectations.

People do not understand what I do

I refer to the immediately preceding sentence.

More often than not, this arises because you discuss your product or service from your own point of view, ignoring your prospect’s understanding of your jargon, services and technical approach.

The problem in this case is not with them but, most likely, with you. An examination of objection categories will help you understand your prospects’ point of view and thus better explain your services.

These are all circumstances that – though they do not scream “Objection!” – do point to the need for an objection handling strategy. Stay tuned for more information on best practices in this field, as well as my own approach to the creation, implementation and benefits of these strategies.

Recognize yourself in any of these scenarios? Contact Me for help in building and training on your own Objection Handling Strategy.