Handling objections effectively is a crucial skill for sales people. Objections can arise at various stages of the sales process, and how you respond to them can determine whether you close the deal or lose the opportunity. Here are our quick tips to handling objections:
Training and Role-Playing: Regularly practice objection-handling scenarios with colleagues or mentors.
Questioning to understand the requirement or challenges: Before you can handle an objection or resistance, you need to be sure you understand their requirement or challenge. If not you won't be able to offer the solution they require, hence resulting in objections.
Creating Value: If your customer doesn’t recognise the value in your product/service, they will struggle to justify the cost or investment required to proceed. Make sure you are clear on your Value Proposition, and this has been communicated to the decision-making unit.
Offer Solutions: Focus on providing solutions and addressing the prospect's needs and concerns.
Learn from Rejections: Treat rejections as opportunities for learning and improvement.
Closing deals is the ultimate goal in sales, and it requires a combination of strategy, relationship-building, and effective communication. Here are our top tips to help you close deals as a salesperson:
Sales Training: Invest in sales training programmes that teach effective closing techniques. Sales training won’t only help you to close deals, but it will improve your overall performance – equipping you with the skills and techniques necessary to excel in your role, such as effective prospecting, objection handling, overcoming sales inertia, and closing deals. It can also teach you how to identify opportunities for cross-selling or up-selling, boosting average deal sizes and profitability.
Identify Decision-Makers: Ensure you're speaking to the right person with the authority to make purchasing decisions, sales professionals often have limited time and resources. Identifying the decision maker allows you to focus your efforts on the person who has the authority to make purchasing decisions.
Multi-threading: There will likely be more than one decision maker involved in the process, however they may not all be present during your meetings. Identify who they are, what role they play, and what their personal requirements and expectation are from the deal.
Overcome Price Objections: Firstly, acknowledge and thank them for sharing their feelings with you. Make sure you understand why they think the price is high and what they are comparing it with. Investigate this with further questioning. Emphasise the value and benefits of your product or service to the customer, explaining how it helps to overcome their pain point – this will then help to justify the price.
Follow-Up: Consistent and timely follow-up is crucial. Many deals are lost due to lack of follow-up.
Sales Technology and Tools:
Using Sales CRM (Customer Relationship Management) tools effectively can enhance a salesperson's productivity and success. Read our tips to ensure you are making the most of CRM tools in your sales role:
Training: Invest time in learning how to use sales tools and technology effectively. And ensuring you stay up to date - technology evolves rapidly; stay informed about the latest tools and trends.
Integration: Ensure that the tools you use are integrated seamlessly to avoid data errors and streamline your workflow. Provide feedback to your employer about the tools you use, helping improve their usability and effectiveness.
Time Management: Efficiently manage your time by using productivity tools and setting clear priorities that align to business goals.
Managing Customer Relationships:
Managing and maintaining customer relationships is crucial for long-term business success. Here are some tips on how you can effectively manage and nurture customer relationships.
Communication: This is key. Actively listen to your customer, understand their needs, preferences, and pain points. Show genuine interest in their concerns. Keep your customers informed about relevant updates, product/service enhancements, and industry trends - consistent communication builds trust.
Provide Exceptional Customer Service: Respond to customer inquiries, concerns, and issues in a timely manner. Swift resolutions show that you value their time and satisfaction. Go the extra mile and offer personalised solutions and assistance beyond what's expected. Surprise and delight your customers with unexpected gestures of goodwill.
Use Customer Relationship Management (CRM) Tools: Invest in CRM software to track customer interactions, manage contact information, and set reminders for follow-ups. CRM tools can help you stay organised and provide a holistic view of your customers.
Segment Your Customer Base: Divide your customer base into segments based on factors like purchase history, demographics, or behaviour. Tailor your communication and offerings to each segment's specific needs.
In addition to these tips, maintaining a positive mindset, resilience, and a willingness to learn and adapt are crucial for overcoming sales challenges. Remember that rejection is part of the job, and each set back is an opportunity for growth and improvement. Continuously refining your sales skills and seeking mentorship or coaching can also contribute to your success as a salesperson.
Keen to find out how BMS Progress can help elevate you and/or your sales team? We offer a wide range of training, from Commercial to Apprenticeships. Explore more here, and get in touch!