You're in a meeting with a promising prospect. You review project and services you provide and then, just when you're hoping to get okay, prospect raises an objection. They may tell you:"I haven"t got time right now." "Send me a written proposal and I'll think about it." "We already have a supplier." "We prefer working with a larger company." "Its too expensive." "We really don't need your services." "I need to get approval from my boss."
Has this ever happened to you? How do you respond? Are these real problems, or is something else going on?
Prospects give objections like these when they still have a question about your company and value of your services. If they tell you they're looking for a larger firm, what they are really asking is, "Can your firm do job?" "Do you have resources to meet our needs?" "Won't a larger company with more personnel give us better service?"
When a prospect tells you your product or services cost too much, what they are really asking is, "Are benefits worth money?" "How do I know if it will work?" "Will I get my money's worth?" "How much money will I save or make by using this service?" "Won't I save money by not using your service?"
When a prospect tells you, "I already have a supplier." what they are really asking is, "How do I know I can trust you to provide services?" "How do I know you'll do a better job than my existing supplier?"
Prospects raise objections because they have questions about your company's credibility, solution your product or service provides and its value. Every buyer has these concerns.
Once you've done work for a client, selling them your services second and third time around is much easier. They trust you, understand solution you provide and recognize its value.
To eliminate objections, first acknowledge that most of prospects' objections are based on three common underlying concerns.
The solution you provide. Prospects want to know whether it's a fit for problem they are trying to solve. They want to know what it does and whom it has previously worked for.
Your credibility. Unless they've purchased your products or services before, prospects need to know that you can be trusted to deliver.
The value of your products and services. Whether it costs a few dollars or a few million, buyers want to understand benefit of what they are buying in their terms.
The best way to avoid having objections become last minute deal breakers is to take following three steps to identify and address them in course of your marketing.