As an entrepreneur, your primary objective is to make profits. The only way to make profits is by selling. A part of sales is objections, because anyone you are attempting to sell a product or service to will probably have at least 1 objection.
For many salespeople, they will tell you it can be frightening if a potential customer doesn’t have at least 1 objection. It usually means they are buying to cancel just hours later because they did not want to hurt the salesperson’s feelings.
It is in your best interest to look forward to objections
Selling is a fact of life, as are objections.
- We had to sell parents on allowing us to stay out past dark or drive the family car.
- We had to sell that teacher on why we deserve a better grade.
- I bet you used sales techniques on your husband/wife or girlfriend/boyfriend.
- When we were interviewed for employment, we had to use sales techniques.
I am sure you see my point, so I do get a laugh every time someone tells me they don’t like selling.
I believe truth be told, they don’t mind selling, they are just afraid of rejection and objections.
Common sales objections
No matter what a person is selling, it seems there are just a handful of common objections they will hear. Some of these objections may be phrased differently giving you the impression it is a new objection when it is just a synonym of one of the common ones.
No matter what you are selling be it swim suits, cars, weight loss supplements, etc., you will get objections. And, you need to realize first and foremost that you are selling yourself more than you are the product or service.
These are some of the most common objections:
- I can’t afford
- It’s too expensive
- I’m not interested
- I’m too busy
- Just send me information
- We use the competitor’s
- I’ve never heard of you, the product or the service
- I don’t see what you or your product could do for me
Everyone of these objections can be defeated with the proper actions and words. At a later date, I will write a post with some great answers for objections. But today, I am going to provide 15 basic tips for dealing with entrepreneurs.
#1: Use silence
Sometimes after getting an objection, you can get your words and thoughts just by pausing for a bit in pure silence. Also, this will sometimes keep the person talking who will then give you the answer to the objection.
Just pause for a moment of silence.
#2: Establish trust
By establishing trust with the person, you will have a much easier time answering objections because they will believe what you are saying.
#3: Ask questions to discover the true concern
You will discover that many objections are just a mask for a different concern. The only way to find out that true concern is to ask deeper questions.
I suggest never starting the question with why, but gear the questions into a comfortable zone with them.
#4: Be a product of the product
What this means is: you need to know everything you possibly can about the product or service you are offering. You also need to use it on a consistent basis.
Would Henry Ford drive a Chevrolet?
#5: Have some pre-set answers to common objections
You may have to adjust the wording slightly for each situation, but it can be a huge benefit to have a list of pre-set answers to common objections.
You may not use them in every circumstance, but at least you have them when your mind is blank.
Some entrepreneurs have tried to B.S. their way around answering a question for the potential customer. It can be embarrassing if that person discovers that the truth is no where near the answer given them.
If you don’t have an answer, tell them so and you will find an answer as soon as possible.
#7: Learn from failures
Look back on those “almost had them” sales moments and learn from them. What would you have done differently? Now use the different approach when you get a similar objection.
#8: Always have testimonials
When people see that others in their same niche are using your product or service and are happy with it, it will add a lot of credibility for you.
Carry testimonials from those you have helped.
#9: Don’t create unnecessary risks
It can kill a sale if you start explaining the various products or services you use to up-sell if you have not even gained the basic sale. That can frighten a potential customer.
Another problem can arise when you give them too much information which gives the impression that your product will be complicated.
By doing so, you are asking for hard objections that will probably lose a sale.
#10: Focus on value
You focus should always be on the value of your product or service; how can it help the prospect solve a problem?
#11: Price is never a viable issue
When a person gives an objection of I can’t afford or something on those lines, always remember that is never the true issue. More than likely, they are saying, “You have not shown me enough value to justify the price.”
#12: Use empathy
You will find it much easier to deal with objections if you empathize with the potential customer. When they object, ask them questions and put yourself in their shoes… The answer to the objection should come quite easy then.
#13: Have a negotiation plan
Some people are “natural” barterers. They have learned that anything can be purchased cheaper than the asking price. It is wise to have a plan to negotiate if you come across any of these people. And, stick to the plan.
#14: Thank them for objecting
This is a method that will take the “fire” from the potential customer. When they give an objection, thank them for bringing that up because you want to completely have them sure they are making the proper choice… And proceed to rebut the objection tactfully.
#15: Don’t take it personal
I saved the most important tip for last; you just cannot take any objections or even an all-out no personal.
It is just business and you will probably get far more no answers than yes’.
Just keep smiling and move forward to the next person.
As a new entrepreneur, you MUST be prepared to get objections. If you are not, you are in for a difficult ride.
Follow these tips because I know they will help.
Also, bookmark this site and come back often. I will be sharing more about objections along with other important facets of the entrepreneur life.
I also want to mention that as an entrepreneur who has many responsibilities, we developed a tool that can help you immensely. It’s a solution to keep track of expenses and budget all you do in both your business and your personal life.
Take a look at The Expense Tracker by clicking here. It is a tool that is loved by many entrepreneurs.
Has this post helped you? Do you have any questions? Leave your comments and questions below. And will you do me a favor? Please share this on your social media so others can enjoy it too.