I was recently watching a video of a salesperson and he was talking about how to overcome objections. And what it means when people say no. And what it means when they say they don’t have any money and what it means when they say they don’t have time and what it means when they say they don’t have their budgets and, and all that stuff…
And, and it got me thinking of the days when I was trained on exactly what to say to overcome these objections and to hopefully move the prospects closer to buying.
Overcoming sales objections is quite easy, if you understand what the objection is, and why the objection has come up.
To do so, you really need to peel that onion back much deeper than that, and understand your buyers, not the objections. In most cases objections are very much mis understood.
The problem is with objections, is that the salespeople are looking to make something happen for them, not for their potential buyers.
To do this properly, we need to actually understand our buyers, and where they are at in the buying cycle.
Let me explain.
There are four different types of buyers out there.
Firstly, you’ve got buyers that aren’t looking for what you’ve got to sell – period. That’s 60% of the leads you generate.
So, if you’re trying to sell to those people, you’re going to have many challenges.
Secondly, you’ve got buyers that think they know what they want. These are the people who have done a little bit of research and have a rough idea what they are looking for. That’s 20% of the leads you generate.
Thirdly, you’ve got buyers that are ready to buy, but need a little bit of reassurance that what they want is right for them. That’s 17% of the leads you generate.
And lastly you have the buyers who have done their research, know what they want exactly, and know where to buy it from the cheapest supplier. These people are only 3% of the leads you generate!
So, to really maximize sales returns, we have to understand who we’re talking to, and we have to understand why we’re talking to them, and we have to understand the problem that we can solve for them.
Now, lets look at how direct sales, direct marketing, all that stuff has changed significantly. The average person needs to see you 21 times before they recognize you and they need to interact with you seven times before they trust you enough to buy.
Why is that? Why does the average person need 21 interactions to know you and seven more interactions to trust? That is because people are sick and tired of being sold to, they’re sick and tired of being spammed, they’re sick and tired of being marketed to, and they’re sick and tired of being taking advantage of.
What the internet has done for all of us, is it’s given us the opportunity to research before we want to buy.
Did you know that 71% of people that are in the market are in the market to buy your products or services?
That’s 71 out of every hundred people we talk to have already done their research on what it is that they want. Our job is to find those people and only market to them. Whilst there is a lot of data used to do this, cold marketing and cold calling is NOT the answer.
When it comes to buying decisions, the reason that it’s getting harder and harder for the average salespeople to close deals is because people have been sold to for a very long time, and they are truly sick of it.
Have you ever experienced buyer’s remorse?
Buyer’s remorse only happens because people buy emotion and then justify that decision with logic.
If we are taking people on this amazing journey and getting them all super excited about what it is, and then they’re buying from us based on emotion, you can guarantee that they’re not going to refer to you – period.
So, when it comes to closing the deals, when it comes to objection handling, it’s not about pushing people into a corner to get them to say, yes, it’s about understanding their needs, understanding their wants, knowing where they’re at in the buying cycle, knowing how you can be of service to them and what you can provide to. To be their solution provider for what they’ve come to you for in the first place.