How To Handle The Top 10 SME Sales Objections - Part I
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A Sale is considered closed when the buyer and seller reach agreement on terms for the buyer to take ownership of a product or service.To get to this stage, the seller normally has to “close” the sale, by asking the buyer for their business. This is where the buyer raises “objections”. Objections generally fall into three main types.
This article will explore the types of objection, how they arise and how to overcome and avoid them. Part II will then discuss the 10 most common objections, and how to handle them to close the sale.
Potential customers generally raise objections for three specific reasons. Two of these are easily handled. The third however, normally points to a fundamental breakdown in the sales process. All is not however lost, and while most of these can be overcome, it is important to understand why they arose, and ensure future sales do not fall into the same trap.
Sales objection Type 1 – Negotiation Tactics.
Assuming that your buyer fully appreciates the value that your product will bring them, some still need to get a “deal”. The range of people looking for a deal can be entrepreneurs, professional procurement and government departments.
You must get the customer to reiterate the value that they are getting first and foremost. This will strengthen your negotiating position. If it is confirmed that they really need this, and that they truly believe that you have the best solution for them, you must make a judgment call. This in effect means that you must also look at the lifetime value of the customer, and whether winning the immediate negotiation, could affect future relationships. Remember, we must always strive for a win-win scenario, since good customers become long-term partners!
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