Sales Development, Sales Prospecting 0 Comment
Objections… Symptoms of a Broken Process
*Editors Note: Recap post of the Deck presented at Sales Hacker Series in New York City on November 20th, 2014 by Jake Dunlap, CEO at Skaled. Check out the other recaps from the Series in New York City by Dan Thompson and Dave Govan.
Why Do People Buy?
People buy because they have a need. It’s our job as salespeople to find that need and that’s what most of us are trained to do. Find the need. But there’s more to it than that.
What most people don’t address when it comes to their actual sales process are the other factors involved:
- Does the Prospect even want a solution?
- Are they willing to take next steps for implementation?
Without these other two pieces the sale won’t happen. We all have wants, needs, desires, etc. but do we actually want them solved? Not always. It must be a problem that the customer wants solved. As salespeople we need to raise the importance of not solving certain issues. As far as next steps go, are they comfortable with what needs to happen next to move along in the process?
Our job is to:
- Create needs
- Raise the importance of these issues
- Eliminate barriers to move along in the process and implement what we do
Why Do Sales Objections Happen?
First, your pitch is too tailored or overwhelming. In other words, we talk about what we do, our solution and the amazing things that it does. On the prospect side, they’re thinking “Yea, that’s great but I have these other 4-5 things that I care about more…” Second, is that we don’t spend enough time talking about implementation. Third, is you have a lack of knowledge of the buying process. You think that you’re dealing with the individual, but in today’s modern buying climate how people buy is equally – if not more important – than the actual decision maker. People generally make consensus decision making.
What Causes These Objections
- Lack of knowledge of the Buying Process
- No Need or Not a priority
- No Budget or Authority
- Switching cost is or is Perceived to be too High
- Too Similar to what they are Currently Doing
- Cost / Time to act is more than the Investment is Worth
Guess what? They do have budget….they just don’t want to give it to you or can’t commit to what you asked.
Try these tactics when you run into budget objections:
- Run a trial to prove value – “Let’s do something small over the next 3-6 months to prove out value so when we are looking at a bigger spend when budget opens up…we have the use case” If they are really interested then this should make sense.
- Sign the agreement with a start date of when the budget frees up.
- If the price was different, would you be able to pull the trigger or could XYZ pull the trigger?
- Give to get? If we lower the price to X and show the value of Y, then will you agree to a press release / logo/ Referral?
They Aren’t Ready To Move Forward…
Try and reiterate the issues and ask if they are no longer a priority.
Or They Just Don’t Tell You… They Go Silent
- Barriers were too high to implement
- Switching costs were too high
- ROI was not present
- Someone you never met…said No!
How To Fix The Future
- How to Fix a Decision Makers Non-Involvement
- Address it early in the discovery process or call
- Act as if it is the typical part of the process to include decision makers on the next call when ending meeting two.
- Make it a requirement to walk through the final details
The final way to solve this problem is to train your people to not come to you if they haven’t gotten these details figured out:
- Sales Qualified Lead – SQL’s
- Pain expressed
- Decision Maker
- Champions & Coaches
- Pain can be solved with solution