Sales objections can be an unavoidable aspect of the sales process. It's nearly impossible to create a product that solves all of your prospects' pain points and business needs, so naturally, you're likely to encounter some sales objections. Your prospects might object to your product's price, or maybe it's not the right time for them to invest. Fortunately, there are some excellent tools and techniques you can adopt to navigate around sales objections, helping you and your team close deals and convert prospects.
Here, at Demoboost, we provide the ultimate tool for creating and personalizing interactive demos that ensure the most buyer-friendly sales process, helping you avoid sales objections from the get-go. In this article, we define sales objections, list some of the most common sales objections you might encounter and share some helpful tips on how to handle them.
What are sales objections?
The term 'sales objection' is self-explanatory and refers to prospects declining a product offering. It represents a barrier between the buyer and your product that prevents the buyer from feeling satisfied enough to make a purchase. It's common in sales and doesn't always reflect the product's quality. Each prospect is unique and has specific pain points they want to resolve, so depending on your product, you may encounter some challenging prospects who may object to investing. You've likely encountered some of these challenging prospects before, such as clients questioning the value proposition of your product.
A sales objection, while not ideal, can help you better understand your prospects, enhancing your and your team's ability to close deals and shorten the sales cycle. For example, if a prospect expresses several objections to purchasing your product, it provides you with a unique opportunity to engage them and learn about their pain points. Rather than giving up on the prospect and losing them for good, you can delve into the prospect's mindset and better understand their needs that require satisfying. If you face a sales objection, don't take it as a failure, rather, use it as an opportunity to learn about your clients' typical concerns and needs.
The most common sales objections
As part of a sales team or when operating as a sales team leader, you're likely to encounter a variety of sales objections. Some objections might be relatively transparent and straightforward, while some might represent deeper concerns for the product and a hesitation to invest. Exploring common sales objections can be an excellent method for identifying the potential barriers clients might experience throughout the buying process. Below, you can explore some of the more typical sales objections you might face when closing deals:
A price objection, also known as a budget objection, is a relatively straightforward objection where the buyer deems the product too expensive for their budget or the value the product provides. When a buyer objects to the product's price, they object to the financial risk associated with the purchase. The buyers' perceived risks can culminate from varying sources, such as budget constraints or a poor value proposition. For example, if a buyer hasn't fully explored a product's features or lacks the opportunity to do so, they might believe the product isn't worth the cost.
In many situations, a price objection might be a genuine concern about the financial risk associated with the product, but some prospects may naturally object to the price to seek out a potential discount. These prospects might initially deem the price reasonable but may state the price is too high in an attempt to incite a discount. Offering a discount is usually the easiest and quickest solution to a price objection, but it can impact sales margins.
A need objection is essentially an issue with the product's value proposition. If a product doesn't resolve a prospect's pain points, they may struggle to justify the purchase as it doesn't offer them value. There may be several reasons a product doesn't offer the prospect value. In some situations, the product might not fit the prospects' needs. For example, if a potential buyer is seeking a software-as-a-service (SaaS) solution for inventory management, a SaaS product offering customer service management solutions is unlikely to engage the prospect. Prospects look for products that can resolve their pain points and improve business processes.
In some situations, a product might actually be perfect for a buyer, but they might not be aware of the various solutions available. This is typically due to an issue in the sales process, particularly with SaaS products, as they often provide an abundance of features. A crucial aspect of the sales process is to present your offer in a way that shows the value proposition of your product. If you don't highlight how the product can help your prospect, they're likely to lose interest.
A time objection typically refers to a prospect stalling the purchase decision. The reason for a time objection can vary depending on the prospect. For example, some prospects might require more time to analyze the potential return on investment (ROI) and consider the risks associated with the purchase. In some situations, prospects might stall their decision because they're not yet convinced of the product's value proposition. Depending on your SaaS product, you might also compete in a saturated market with many competitors trying to close a deal with the same prospect, causing them to stall their purchase and consider their options.
Another type of time objection may result from a prospect's uncertainty about the timing of their purchase. For example, a client is forming a new team to enhance the business's employee relations. They're searching for a versatile human resource SaaS solution but believe it might be too early to implement the product. The client is uncertain whether it's the right time to purchase the product, so they delay their purchase decision.
An urgency objection is when a prospect doesn't believe the product is immediately necessary or their pain points don't require immediate solutions. Similar to a needs objection, the prospect might not realize the extent to which the product can benefit their business and resolve their pain points. This might arise from an inefficient sales process where the product offering doesn't effectively outline how it can help the prospect.
A lack of urgency on the prospect's behalf can be common in business-to-business (B2B) sales. Executive decision-makers might have busy schedules and believe the process of implementing new SaaS products is too time-consuming. They might also have other priorities, such as other pain points impacting their business more significantly, requiring immediate attention.
A trust objection is when a prospect has minimal information about your business and product. This objection might also arise from poor public perception, such as low user reviews or customer complaints. Prospects might state 'I've never heard of this company' if they're objecting to the product based on a lack of trust.
When prospects face a purchase decision with a brand they don't trust, it typically increases their associated risk of the purchase. They may feel uncertain about the product's features and its reliability. If you're trying to convert a prospect who doesn't trust the brand or product, it's important to view this objection as an opportunity to show the product's value and the brand's market authority, rather than viewing it as a rejection.
A gatekeeper is a term adopted in the sales industry that usually refers to an individual who assists the decision-maker of a business. In B2B sales, the gatekeeper is essentially the individual who stands between you and the decision maker. A gatekeeper might refer to individuals such as receptionists, assistants and phone operators. One of their primary purposes is to protect the decision-maker's time and energy.
A gatekeeper objection is one of the more common objections when cold calling for B2B sales. If the gatekeeper believes the product isn't worth the executives' time and energy, they'll likely reject the product offering. Getting past the gatekeeper and communicating with the decision-maker can be crucial for closing deals with B2B prospects.
How to handle sales objections
Now that you've explored many of the potential sales objections, you may be curious about the range of tools and techniques that can help you overcome sales objections. Below, you can explore several methods for overcoming sales objections:
Handling price objections
When overcoming price objections, try to avoid mentioning the product's price before expressing its value, as the prospect might preemptively deem the product unworthy of its price tag. One of the key tactics to overcome a price objection is to guide the prospect toward a risk vs. reward analysis. Rather than stating how much the product will cost, focus on what the product can offer. If you steer the prospect towards thinking of the purchase as an investment rather than a cost, you can outline how the product can provide a positive ROI.
Handling need objections
Overcoming a need objection is relatively straightforward, although it's not always simple. You need to convince the prospect that the product can solve their pain points and benefit their business. The key to showing the product's value starts with excellent qualification and discovery strategies. Through effective qualification and discovery, you can identify the prospect's pain points and outline how the product can directly resolve the issues. For example, if a prospect's priority is saving time through automation, you can focus on the product's ability to automate tasks and processes.
Handling time objections
Depending on the type of time objection, there are two helpful methods for you to consider when closing the deal. If the prospect objects to the product because of a lengthy onboarding process, you can reassure them that your customer success team is there to streamline the process and help resolve any onboarding challenges the prospect might face. If the prospect feels concerned about whether it's the right time to buy, consider discussing a scenario outlining the benefit of purchasing now. For example, you might state competitors already possess the product, followed by examples of how they've benefited from their purchase decision.
Handling urgency objections
Overcoming an urgency objection is similar to overcoming time and need objections. If a prospect believes the product isn't an immediate necessity, it's important to prove the product's value. You can achieve this by adopting the tactic for handling time objections, where you present a scenario that shows the benefits of purchasing the product in the immediate future. You can also overcome an urgency objection by guiding the prospect to focus on their pain points. Consider asking questions that make the prospect contemplate their issues and the consequences of neglecting them.
Handling trust objections
Closing the deal on a prospect who doesn't trust the brand or product can be challenging, but there are methods for you to adopt. If the prospect has genuinely never heard of the brand, take time to explain the brand's market authority and the product's value proposition. If the prospect has a poor existing opinion of the brand, it can be difficult to change their mind. Listening carefully to the prospect and understanding their reasons for a lack of trust can help you address the underlying factors causing the objection.
Handling gatekeeper objections
Depending on the gatekeeper, overcoming their objection can be a challenge. The trick is to involve the decision-maker as soon as possible. You might ask to speak to the supervisor or manager in the initial stages of the conversation. If you can get past the gatekeeper, you can present the product to the individual who actually makes the purchase decision. Getting past the gatekeeper is often the most challenging aspect, though. If you can't speak with the decision-maker, you need to convince the gatekeeper that the product is worth the business's time and effort.
Steer clear of sales objections with Demoboost
What if the best way for overcoming objections is to avoid them entirely? It sounds impossible, but with the right tool, you can elevate your presales team to heights never imagined. Using Demoboost, the ultimate sales enablement solution, you can optimize your sales pipeline, shorten your sales cycle, save time, cut costs and close more deals! Optimizing your presales experience can better qualify your prospects, ultimately reducing the number of objections and helping you close more deals.
If you're tired of countless sales objections and dead-end leads, book a demo today!