Overcome your customer’s 3 key buying objections and sell more
Are you aware that there are 3 critical pain points or buying objections that you would need to learn to address with confidence and competence if you'd like to take your sales to the next level? And here they are:
- Price concern While price does play an important role in the customer's decision making process, it is often not as important as what most salespeople think if you are able to convince your customers that they are deriving value out of purchasing your products and/or services. In other words, the more you start focusing on the value, emphasizing on the value your customers are able to get out of investing in your products and services, the less attention your customers will put on cost. In fact, we should always avoid using the word "cost" when speaking to our customers as this may have a negative impact on our selling abilities at the subconscious level. Always use the word "investment" to replace the word "price" or "cost". For instance, whenever your customer asks you, "How much does the product cost?" Your reply should always be, "The investment of the product is..."
- Concern about the functionality of the product If there's a question that you can be sure which is constantly bugging your customer, it must be: What if this product doesn't work for me? In the eyes of every customer, every buying decision he/she makes tends to come with a risk. In fact, the fear of failure is one of the biggest barriers to closing the deal which every salesperson has to learn to overcome. Nonetheless if you are able to show them enough testimonies and references of how you have helped other clients to solve similar problems through the use of your products and/or services, they are more likely to believe you and buy from you. At the end of the day, stories will always sell.
- Time concern While this objection may not even be brought up verbally during the sales presentation, it is often found at the back of many customers' mind. There would always be that doubt whether the investment is going to be worth his/her time. After all, time is often associated to risk. The longer the time one has to invest in a project, the bigger the perceived risk. But if you could give them the assurance and tell them confidently, "Could you give me a chance to prove that this project is not going to take up much of your time?" If you could even offer them a guarantee, your customer is likely going to have the peace of mind to go ahead with the buying decision.