While objections are natural and you can’t avoid them, you can still learn how to handle them effectively and make your best effort to turn those “NAYs” into “YAYs” or at least “MAYBE.”
Before we dive into the top three objections and how to handle them, it’s crucial to discuss the process for overcoming cold calling objections in general.
So to put it simply, there are four basic steps to the process of objection handling-
Steps to Handle Common Cold Calling Objections-
Step #01: Listen
You can’t handle an objection if you aren’t listening to what the prospect has to say. If you keep listening to them properly, chances are you’ll start predicting the objects even before they arise. So instead of jumping in with response or cutting the prospect in-between their talk, try to listen to their concerns. This, in turn, makes them feel like you’re genuinely concerned and trying to help. And this boosts the chances of conversion.
Step #02: Understand
Listening and understanding go hand in hand. This is because people are complicated, and sometimes they don’t mean what they sound like. Also, even if they mean what they same, words might get misinterpreted. So it’s crucial to paraphrase your prospect’s concerns and queries to show that you’re actually listening to them and understanding what they mean.
Step #03: Respond
Whether or not the concerns sound like a severe issue, you need to acknowledge that they are valid. If your prospects feel like you’re not paying enough attention to their problems or trying to ignore them, they are unlikely to get converted. So try to, if you’re able to handle the issue yourself, plunge in, and if you’re not, explain to them how they can get their issues resolved or tell them that you’ll get back to them with the solution.
Step #04: Confirm
Once you understand and respond to the object, confirm that you can overcome it, and the chances are the prospect will be happy to sign the deal.
So that was all about the steps involved in handling cold calling objections, but this doesn’t end here.
There are certain very common sales objections that salespeople can handle if they know how to do it and get closer to the sale. Let’s discuss the three most common sales objections and the best rebuttals to get closer to the sale.
Cold Calling Objections and the Best Rebuttals
Objection #01: Price Objections
When it comes to objections related to pricings there’s no specific one; there are varieties of objections like:
- “It’s too expensive.”
- “We don’t have money.”
- “We have already spent our budget.”
- “I need to allocate this budget somewhere else.”
- “The product is great, but it’s too costly.”
- And many such more.
How to Handle Such Objections?
Whenever a prospect has a price-related issue, pause for a moment as they might volunteer some more details unprompted. And once they finish it, zero in by asking a few questions to show your concern.
Try to dig what makes the prospect think that your products/solutions. You’ll often find their issue is more of a vague feeling than anything concrete. In this case, a few hard facts may help put their mind at ease. Tell them what sets your products apart and why they should consider them instead of other options.
If the prospect is still not convinced, put the price in context (how much it costs in relation to ROI). Once the client understands the value your service is providing; the price will affect less.
Objection #02: Not a Good Fit
When a prospect says “Not a Good Fit,”– it hurts. However, what exactly they are trying to convey is that it’s not you but them. Some of the common objections related to “Not a Good Fit” are:
- “We can’t implement this solution.”
- “This product doesn’t fit in our system.”
- “I’ve never heard of your company before.”
- “I can’t understand your product.”
- “I’ve heard some negative feedback about your company.”
How to Handle Such Objections?
To effectively tackle such objections, use vital questions to understand in-depth what’s holding your prospects back, and have your responses prepped when you feel them trying to push you off the sales call.
Object #03: Not Interested
These are pretty much similar to the last objection, but there’s one difference, these objections aren’t hiding behind a polite excuse. When prospects say that they aren’t interested, it simply means that they have at least one solid reason for not buying.
Some of the specific objections related to “Not Interested” includes:
- “We may buy if you add some more features.”
- “Your product/services is a fad and won’t last for long.”
- “I am satisfied with my current products/solutions.”
- “I can’t see how your products can help me.”
How to Handle Such Cold Calling Objections?
To handle such cold calling objections from the apathetic or uninterested, you have to have some real, concrete reasons to prove their perceptions wrong. Convince them to change their perspective on that one thing they’re fixating on, so the call flows back in your favor.
So these were the top three most common cold calling objections and the best rebuttals to get closer to the sale. While these can be used in most cases and help you to close deals more often, it is also important to master your craft by practicing it. The more you practice the better you get at closing deals.