Objections are a part of sales.
Amidst most sales conversations, there’s bound to be an element of objection or reluctance you need to work through before reaching a sale or conversion.
The ability to overcome sales and cold call objections is one of the things that separates great salespeople from average ones (knowing how to reframe cold call rejection and move on is helpful too).
It can mean the difference between optimism and a total lack of confidence. It can be difference between closing, and giving up to soon. And it’s often the difference between scraping by and shattering sales goals.
Of course, some cold call objections are more difficult to handle than others…and sometimes, you might just be at a loss for words. So, we’ve put together a list of 3 common cold call objections and how you can overcome them.
You can refer back to these next time you face a tough objection.
1. We don’t have the money right now
Money is a common issue when it comes to sales and cold calls. They tell you that they don’t have room in the budget for your product or service. Deal breaker, right? Wrong.
Sure, sometimes not having enough money is a reality. But oftentimes it’s just an excuse that signals something deeper.
And usually that “something deeper” is that they don’t see the VALUE in your product/service. Value is everything. Otherwise the cheapest option would always be the chosen option. And that’s certainly not the case.
Here are 2 great ways to work through this.
One is to effectively convey the value of your product so that money is no longer a reasonable objection. You can say, “I understand completely. But before we get into money, I want you to know that…” and then you elaborate on the results you’ve achieved for someone in their position, or the direct benefits of your service (WIIFT – what’s in it for them).
Few things overcome cost objection better than perceived gain, so help your prospects see exactly what your product or service can do for them.
Second, you can counter the “right now” response by opening the door to something in the future. You can say, “So this is more of a future project for you then, right?” If it’s something they clearly need, they’ll usually say “Yes.”
That can give you an opening for a demonstration, an invitation to send them more information, or something else that might overcome their price objection, and help you advance the sale.
“Okay, so let’s put off doing anything right now… but in the meantime, I can give you a demo to shows you how our software gets 1 out of every 3 customers to refer a friend.”
2. I’m just not interested
This one is a classic. The typical, general objection. If you’re calling in to the north east of the USA, you’ll likely hear a variation of this—“I’m all set”.
Usually they don’t fully understand what you’re talking about when they say this. It’s just a knee jerk reaction some people have when they get a cold call. They’re busy people too, and they probably just want to hang up and get back to work.
But your product/service can help them, so they shouldn’t be so quick to get off the phone!
A good way to counter this is to say, “I understand ______. Most people I talk to say they’re not interested (or most of my customers started out saying the same thing), but when they heard that…” and then follow with your biggest, most cost saving, or results-producing benefit.
Another way to counter a general objection is to say something that know that they do want. For example, “I totally understand, but I do know that you’re interested in [generating more leads/ cutting your monthly costs, etc.], and I can help you [very specific benefit].” And then, go on with your pitch.
3. Can you send me information first?
We’ve all heard this one. They don’t want to flat-out reject you, or just don’t feel like dealing with the call right now, so they ask you to send them information first, and they’ll look it over.
Of course, the closing potential in this situation is pretty low, so you want to try to advance the sale before letting this prospect go.
The first step is to agree. “Sure, I’d be happy to send you some information…”
And then you continue with, “But to make sure I send you the right information, can I ask you [specific follow-up question]?” Getting your prospect talking about their situation, or what they want or need is a great way to get back on track.
Listening is key in sales calls, and this objection is a great lead-in to some probing questions.
Another thing to remember…
While some objection is unavoidable, it’s important to keep in mind that in many cases, objection is be a symptom of an initial pitch that needs improvement. Try to think about how you can change your introduction to avoid these knee-jerk reactions in the first place. If you effectively convey value, hit on a key pain point, or are able to establish a better personal connection at the outset of your call, you might find that you have fewer objections to contend with.