How to Effectively Avoid and Handle Objections Based on Value
No matter how much buyers are drawn towards your solution, they will almost always raise some objections during the sales process.
This is because, while salespeople have long been taught how to sell through mentoring and sales training initiatives, buyers are increasingly being taught how to buy and how to negotiate the best deal that suits their organisation.
This is particularly true in today’s challenging economic environment where buying decisions are either being commoditised and bought on price, or they are being viewed as strategic decisions at a much more senior level. This means that B2B salespeople are experiencing a far greater number, and wider range, of objections across many industries. Now more than ever before, it is therefore vital that salespeople become masters at objection handling.
The most difficult types of objection that salespeople encounter tend to be based on value. When a value objection is raised by a client, it is because the buyer doubts that the value of your solution is worth its weight in gold. To the buyer, the cost of your solution simply does not warrant the value that he or she is likely to get out of buying from you.
To counter value objections, less successful salespeople try to justify the cost of their solution by using traditional FAB sales techniques. They throw the features, advantages and benefits of their solution at the client in an attempt to convince them that buying their solution will be worthwhile. However, as we have written about extensively across this blog, FAB selling is dead and no longer has a place in today’s world of more strategic selling. After all, talking about your solution’s FAB’s does little to separate you from the competition.
Opportunities achieved by our sales training clients prove that consultative selling techniques achieve far greater success than traditional sales techniques when it comes to avoiding and overcoming value objections. This is because consultative selling techniques demonstrate a clearer understanding of the client’s world.
Make your clients wallow in the implications of ‘doing nothing’
To be a master objection handler (and avoider), you need to open discussions around the external pressures that your clients cannot change, avoid or overcome. You should then take the buyer through the internal pain-points (i.e. the implications) that they will realise if nothing is done, before discussing the strategic desires that will counter these external pressures and internal pain-points if (and when) they buy your solution.
By making the client wallow in the implications of doing nothing, you will be far more likely to avoid value objections. If any value objections are raised, they will be far easier to counter by simply reiterating the implications and costs of doing nothing.
If the external pressures and resulting internal pain-points you outline are compelling enough to the client, this will ensure that any value objections are overcome and will significantly increase your chances of reaching a successful sale.
By taking clients through this consultative selling methodology, you will soon make them wallow in the implications of ‘doing nothing’. This will make them realise their strategic need and desire for your solution.
Written by: Steve Eungblut, Managing Director of Sterling Chase
