One of the most essential skills for sales people is to overcome an objection. Many objections are easy to overcome, and often come natural to most people. However, this is not always the case. To be able to overcome an objection, a salesperson should learn the basics of how to overcome an objection, and more importantly get over the fear of overcoming multiple objections.
Let’s begin with the anatomy of objections. Objections are a negative result of continuing the conversation or buying. Another way of looking at is that they are one side of an argument. Objections are the reason the customer does not want to continue the conversation or does not want to buy. A rebuttal is your answer to the objection. Given these definitions, there are three ways to overcome an objection, or three types of rebuttals. The first is to explain why the benefits of buying outweigh the objection. The second is to present a solution to the problem. The last rebuttal is a more advanced way to overcome an objection. In this method of overcoming an objection, your goal is to prove that the customer’s argument is invalid. It is essentially calling the customer’s bluff.
Pros Outweigh Cons
The first method to overcome an objection is simple. All you have to do is present the benefits that outweigh the objection. If the product is too expensive, explain why it is worth the price. If it is too time consuming, explain how it will save time in the end. This is the easiest way to overcome an objection.
Offer a Solution
The second way to overcome an objection is to offer a solution. This is similar to the first, but it differs in that you have to be a little more creative. You don’t have the solution already written for you in the benefits page of your product or service. You have to create a solution that fits the needs of that particular customer. For example, let’s say a customer tells you that a car is too expensive. Your solution could be to show a less expensive car, but what if the customer has his or her mind set on that model? This is where the creativity comes into play. Offer that customer the same car with fewer options. Offer a long-term financing option. Offer a less expensive lease option. Find the same car model in the used car lot for less money. The customer will not like some of these options, so you have to listen to your customer and offer the best solution that fits the customer’s needs.
Proving the Customer’s Argument as Invalid
The last way to overcome an objection is the most difficult. Think of this method to overcome an objection as a debate. The customer states his or her argument, and you have to discredit that argument. You have to find a fallacy, an error in the customer’s logic, and you have to do it tactfully in a way that does not offend. This is often difficult to do, but when you find a way and you present it right, the customer will respect you for it. This is the most effective way to overcome an objection. You can pretend you are in a presidential debate. Ask yourself, how the president would handle this argument tactfully and eloquently.
For example, let’s say a customer understands that refinancing his or her mortgage into a debt consolidation home equity will save that customer thousands of dollars. Despite this, the customer tells you that he or she does not want the loan because the interest rate on their mortgage is going up (home equity interest rates typically higher than regular mortgages). You could reply, “Why do you want a low interest rate? You want a low interest rate so that you can pay less money. If I am saving more money with a slightly higher interest rate, and the reason you want a low interest rate is to save money, then logically, it makes no sense to have a lower interest rate in this situation.”
Notice that this example of how to overcome an objection uses the same argument structure as a syllogism (a logical argument). The structure for the argument uses two premises (facts or accepted truths) that logically lead to a conclusion. Your arguments should be as logical as a mathematical formula.
1 + 1 = 2
Premise + Premise = conclusion
Want to pay less in total interest + Less total interest with higher rate home equity = lowest rate is not the always the best option
If you use this method to overcome an objection effectively, there should be no logical way for the customer to argue. More details on logical arguments on another post.
The last comment I will make on how to overcome an objection is a warning that is very important to understand. The objection that customers say is not always the real objection. Customers will often say anything to get out of a high-pressure sales situation. This means that sometimes, the salesperson has to find the hidden objection. Avoiding high-pressure sales situations and finding hidden objections are topics for another day, but keeping both of these in mind when you overcome an objections is important.
Now that you know the ways to overcome an objection, you need to know the steps to overcome an objection. Follow this link to our post on Steps to Overcome an Objection.