Overcoming Sales Objections

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Encountering sales objections is an inevitable part of a conversation when dealing with clients. After a productive 2023, I’ve learned that many of these “nos” aren’t outright rejections but signals that a buyer needs more insight or reassurance. Think about it. When a client throws an objection your way, they practically say, “Convince me, I’m almost there.” They’re not rejecting you; they’re challenging you. Sales objections aren’t your enemy; they’re your opportunity. You’ve heard them all: “It’s too pricey,” “We don’t have the budget,” “What the heck is this thing anyway?” and the classic, “Who are you guys?” If we are being true to ourselves, we know these objections are often smoke screens hiding the real deal – trust issues and financial constraints. In this article, we hope to touch upon some of the principal sales objections you may deal with many clients and provide strategies on how you can use them to improve your sales and rapport.

Understanding the Real Objections

In “The Sales Bible,” Jeffrey Gitomer emphasizes that the first step in responding to objections is to identify the true underlying concerns of the customer. Often, customers don’t directly state their main reasons for hesitation. They might offer surface-level objections like “I need to think about it” or “I need to discuss it with my wife.” These statements usually mask their real concerns. This hesitancy to decide can be rooted in various psychological factors. It might be a fear of change, as making a new purchase can represent a shift from the familiar to the unknown. There’s often an underlying concern about making a mistake or regretting the decision later. This apprehension is particularly true in high-stakes purchases. Or when the product is complex and the implications of the choice are significant. Many customers might hold back their real reservations because they fear appearing indecisive or uninformed. Don’t you also sense the need to avoid looking “dumb” or “ignorant” about something as important as life insurance? Reassurance and additional, tailored information can be more effective than pushing for a quick sale.

Engaging with the Objections

You can reframe sales objections as gateways to deeper engagement rather than obstacles. Think of it as a locked door inside of a house. You are already in the home; you only need to find the right key to enter the next room. The key is not just to respond to objections but to actively engage with them. Rolling with the punches instead of shielding yourself from them will work much more in your favor. This approach transforms a sales process from a one-way pitch to a two-way conversation. Engaging with objections requires active listening. It’s about hearing more than just the words. You must listen to the underlying messages or emotions. Did the client flinch when you mentioned the price of the monthly premium? Does the client feel uncomfortable talking about his or her life ending one day? Did the client wince at the thought that they would one day be in a hospital? Did the hospital indemnity plan make their face turn red? Is the objection rooted in a lack of understanding of the product? Concern about the cost? Or perhaps a lack of perceived value? By identifying the underlying cause of the objection, you can address it more effectively. Active listening and handling the objections show the client that you value their input and are committed to finding a solution that meets their needs. This technique can help build trust and rapport. They are essential to a successful sales relationship.

Offering Solutions to Sales Objections

Being well-prepared with a variety of solutions to common objections is vital. This method doesn’t mean simply having the right thing to say or working past the true objections with a simple answer. I am referring to a viable solution for a problem for the client. For instance, when a prospect says they need to ‘think it over,’ it might mean they’re unsure about the value your product or service adds. Or they are not convinced it’s the right fit for their needs. Here, explaining why the policy will help protect their family and their home against any future loss is a much better solution than letting them know you can offer them a plan with a lower monthly premium and less death benefit. If the objection involves the product fitting their needs, you can discuss customization options or additional features. This conversation can include different riders or a different type of policy altogether. Offering additional services can also be a powerful way to overcome objections. For instance, if a customer hesitates about enrolling into a medicare advantage plan because of the high cost of in-patient hospitalization, offering a hospital indemnity plan to augment their coverage can help mitigate their concerns. In all these approaches, the key is to carefully listen to the customer’s objections and respond with a solution that addresses their precise concerns. This method helps you overcome the immediate objection and builds trust to strengthen the customer relationship. The strategy also shows that you are not simply selling a product but offering a solution tailored to their specific needs.

Final Thoughts

The way to handle objections is less about countering arguments and more about understanding and easing the psychological barriers your customers could face. Active listening is your best asset when working in a sales role. Your role as a salesperson becomes more about being a guide or a consultant than a traditional seller. It’s about understanding these psychological barriers and addressing them subtly and empathetically. Would you purchase a car from someone impersonal, rude, and pushy? Or would you buy a car from someone who made you feel welcomed, asked you about your favorite places to travel to, and what kind of music you like to listen to as you drive? An environment of trust and understanding can encourage your prospects to voice their true concerns and help you turn that hard “Well, I’m not interested” into “How do I sign up?”. If you have an interest in learning more about sales, read our article about prospecting.

Agents

We hope that this information on overcoming sales objections is useful to you.

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Jose Lerma

Jose has been a career agent working with Empower Brokerage since 2021 helping clients from all walks of life find tailored solutions for their healthcare needs.