You’ve offered a complimentary consultation. You’ve spoken with the prospect either over the phone or in-person. You’ve taken the time to understand their needs and delivered a thorough proposal. After walking the prospect through the details and answering all of their questions, you’re met with an objection.
Where do you go from there when you believe you’ve done everything right?
Dealing with objections from a potential client is discouraging, no doubt about it. Responses such as “The cost is a barrier for us” or “We’re not ready to move forward with your services at this time” can be frustrating for any Sales or Account Director.
I recently read an article called “Dealing With Those Dreaded Objections”, which provides some great tips for dealing with verbal barriers:
Listen fully to the objection (don’t interrupt or anticipate)
Ask permission to better understand the issue
Ask questions, re-state, or clarify the objection
Choose your response carefully and keep it short
Propose your resolution to overcome the objection
Ask whether your answer or proposed solution will satisfy the objection
Now the question becomes “How, exactly, do you respond to client objections?”
First, it’s really important to understand that just because a prospective client has objections does not mean the conversation stops there. In fact, since meeting needs is a cornerstone of relationship development, this is actually the real starting point of a meaningful discussion. You’ve done everything right from your end, but you’re forgetting about the prospect’s side of things. We all know that a relationship requires dialogue, honesty, trust and understanding from both sides.
In order to understand the situation from your prospect’s perspective, you must first listen to the objections in full. Verbal and emotional cues can help you uncover the real reasons behind their hesitation. Perhaps they had a bad experience in the past, or maybe they’re dealing with internal fear of failure – or even fear of success! Only by really listening can you begin to understand their core issues. (And rarely are they about your pricing or value proposition!)
A potential client must reach the point where they truly realize the value of your services – and more importantly, see the benefits of your offer versus that of your competitors’.
This means you need to be prepared to educate the prospect from the very beginning to the very end. When you take the time to do so, the relationship becomes solidified – and your company will be set apart from its competitors by this single point alone.
This is especially true when the services you provide vary in price within your industry, or if your services include technical aspects that may be foreign to outsiders. Prospective clients must comprehend cost, how your offering can actually save time and money in the long run, and what their return on investment (ROI) will be.
As in any relationship, communication and trust are key components. Therefore, patience and rationale are of utmost importance when responding to objections.
And of course, we learn from other professionals! Do you or your company have a policy for dealing with objections from prospective clients? What types of barriers do you hear most often – and how do your deal with them?
