For sure, there can’t be a single sales person on this Earth, who have never faced such problem. “We are already working with some other company” or “We are already taking their service” are among the most common objections, that prospects use with sales persons, if they don’t want to spend time. How do you react then? Mostly sales persons take one of the two ways. One, they simply switch to other customer with a hope to find someone else in need. Second, they try to state superiority of their offerings over current vendor by comparison. For example, we can offer you better service at more affordable prices, or our services are faster, we have hot two decades experience in this field etc. have you ever tried to work out the success rate of such comparisons. Take a paper and pen and make a list, how many time, you have opted for any of these options and what was the outcome? This is the best way for self analysis of your own actions.
I do not want to discuss anything about first option. This one is total waste, even contradicting with the true spirit of sales person i.e. “Never Give Up“. Let’s come to the second option i.e. instant comparison with prospect’s current vendor. Other than calculating success rate, you may ask a few questions from yourself to evaluate your action. Let’s say, you installed Samsung television at home. you shared this news with your friend. in return, your friend says that your selection is wrong, you should have gone for Sony or LG. How will you feel now? Certainly, you will not like this approach. And so, your prospect. You have little information about customer need, his vendor’s offerings and services, their personal equations and still you try to prove your superiority.
Clearly, that’s not working. What to do then? I am not saying that I have any magic formula, with which you can replace the current vendor for sure. In fact, that’s not your problem at this juncture. Prospect has simply closed the door before you, given no room for discussion and that the issue you should focus on at this moment. How can you bring and engage your prospect? How can you get your prospect ready to consider you as an alternate? If it can’t be through direct comparison, then how?
Tips to handle such objections effectively
- Always predict such objection with any new prospect and prepare yourself accordingly
- Do your homework thoroughly by gathering all sorts of information about your prospect regarding their business, growth, profit and loss, future plans etc.
- Don’t ever compare with current vendor in first meeting, as you have got hardly any information.
- Focus on the business objective to counter such objection is a better choice. After all prospect is doing business for profit not to maintain his loyalty with his current vendor.
- You may put following logical statements to counter such objections: –
- I performed some market research before coming here and got to know that your company’s sales have been stagnant the past few months. With your permission, I can put some ideas to make improvements.
- I got to know that few of your customers had shifted to your competitors in last few months. Can we discuss on this matter, as I have some ideas on how to acquire new client acquisition, that will be helpful to your organization?
- You already have got a vendor and I hope, they provide you good service. To ascertain, how we can provide some value addition over that, may I ask you a few questions?
Please share your ideas on how to handle such objection and comment below in comment box. This will help others in same fraternity.