When you get right down to it, there are only a handful of reasons why a prospect may have a sales objection. Price is too high, they’re not ready to say “yes” just yet, they don’t like the terms (managed vs. break-fix, contract length or service delivery, etc.). In fact, I’ll bet you a dollar to a donut you’d be hard-pressed to come up with more than 10 unique reasons why a prospect doesn’t move forward, and almost all can be anticipated. Sure, every once in a while someone throws you a crazy curveball, but that’s not the norm.
So, given that 90% of the sales objections you’re going to run into are known, it’s a giant mystery to me why so many salespeople haven’t strategically planned their presentations in advance to overcome those objections and stalls long before they come up. What are they hoping for? That the prospect won’t cringe at the price or terms? Silly rabbit.
That’s why I’m a big proponent of overcoming objections in ADVANCE, before they bring it up, so you’re educating them and bringing forth their concerns where you can address them rather than waiting for them to raise the concern and try to “handle” it, which is essentially arguing. For example: Prospect: “The price is too high and I can get it somewhere cheaper.” You: “You’re wrong. You know that you get what you pay for. We’re not overpriced by any stretch! I bet the cheaper guy is going to screw up and doesn’t have anywhere near our experience!” Okay, so maybe you don’t say it that way, but whatever you say will come across as an argument.
So, let’s play this out in another way. BEFORE the prospect even brings up price, we take time to understand what’s most important to them and help them clarify it. You’d be surprised how many prospects have NOT thought through what their priorities are for selecting their next IT company, and many don’t know how. Next, you bring up the price bugaboo.
“Okay, I’m very confident we can deliver on all of these items and solve your problems, because this is right in our wheelhouse. But before we go any further, I want to let you know that we are far from the cheapest IT company in Nashville. Now, you didn’t say that ‘cheapest price’ was one of the criteria you were looking for, but I also know you don’t have piles of money to burn either. That said, if you ARE very budget-conscious, we might not be the best firm for you. Now, I can’t say exactly what this project will cost without doing a deeper diagnostic, but a typical client of your size will need to budget for $3,000 to $3,500 a month for us to monitor, manage and maintain the network as well as provide help-desk support…and the clients who trust us want to know, without a shadow of a doubt, that their data is secure and their network is protected from ransomware, rogue employees, hackers, viruses and extended downtime. They also want to have complete peace of mind that the regulatory agencies don’t come knocking on their door for a compliance violation. That costs a little more to deliver, and that’s why we’re a bit higher in our fees than some of the smaller, break-fix shops you’ll find around. Is that a deal breaker for you?”
To really nail this, you cannot sound arrogant and you have to ooze confidence. Otherwise, any awkwardness you feel in addressing this or saying this will come across as arrogance or that you’re being less than straightforward. Will that always erase the price boogeyman? No, but it WILL prevent you from wasting time on prospects who aren’t willing to pay the fees you need to charge, and it WILL kill that objection from coming up later to crush your deal.
My advice is to do this with EVERY possible objection and not only build a way to address them in your sales presentation, but also in your Shock-And-Awe box and presales materials, website and other marketing collateral.
And finally, let me clarify one really important point about sales objections: a SALES objection is when the prospect hears your presentation, maybe gets to the point of being quoted, then turns you down. Someone you cold-prospect for an appointment who says “no” to the appointment or offer (network assessment, dark web scan, free report, webinar, etc.) is not a sales objection – they’re a prospect who is not interested in what you’re selling for any number of reasons: they’re distracted, have no perceived need, they misunderstood what you’re offering, have bigger fish to fry, have zero interest, etc., etc. That’s a marketing problem, not a sales objection, and it can be overcome by changing the offer, the copy or simply waiting them out, sending drip marketing campaigns UNTIL they are ready to buy or accept an appointment.
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