Persuade your way through
Once you know the objection, you can work to overcome the hurdle by persuading the client the objection isn't as much of a hurdle as they think it may be. Demonstrate the value and benefits of the product/service which will get the client to that "a-ha!" moment where the objection doesn't look as big as they originally thought.
Concede your way through
Giving an inch doesn't mean they'll take a mile. If the objection is related to time, come back in a week or a month. If the client is serious, they'll be back at the table and if they aren't then you've saved both your time and theirs by concluding negotiations early. If the objection is cost, see if you can lower it or (even better) if there are leasing/financing options to make the cost more easy to handle over time.
Types of objection
There are a lot of objections to overcome, but here are a few of the biggest you're likely to encounter frequently.
Need
The product or service just isn't a good 'fit' for their business/organization.
Examples
What we have works fine for now.
We don't want one.
I think this just isn't necessary for us.
Approach
Have you identified the key problems the client is experiencing and are they something Digital Signage can help with? If you haven't identified the problem and you don't have a solution, it's difficult to prove the real need for the DS solution you're presenting.
Price
This is likely to be your biggest/most frequent objection.
Examples
Wow, I didn't realize they cost that much!?!
Our budget is closed this year, maybe in a few months...
I saw the same solution cheaper online.
You mean the services aren't included?
Approach
People are familiar with the prices of cars/trucks, houses, etc. These big ticket items don't scare them (usually) because they know what they're getting into from the start. DS isn't as straightforward and (like any business) there's always someone cheaper down the road. It's important to build the value in the product. Demonstrate both the ROI (Return On Investment) and the ROO (Return On Objective) with the use of a DS solution. Build the value and the price is no longer just a big number on a sheet but an investment which can be justified.
Time
The client either has a lengthy vetting process or they're just not ready to make the investment yet.
Examples
I need time to think about this.
The budget won't allow for this for three months.
Come back next year, we'll see where we're at then.
I need to talk to the boss about this.
Approach
Give the client the time they need. Trust the client isn't just giving you a brush-off and set time to come back to the conversation at a time which will be more suitable.
Source
Maybe the brand represented isn't strong in the market. The client may even dislike someone in your company or have issues with "something they heard/read."
Examples
I just don't know you or your company.
I read something online about how you guys are a ripoff.
How do I know your company will be here to provide the services and support in a 3 or 4 years?
Any sale is (ultimately) a relationship. Clients want to know they'll be taken care of now and down the line. There needs to be a sense of security and trust and this often takes time. The first meeting with a client should be about getting to know each other, find the problems and come back to the client later with some solutions. Rushing the process can often result in a push-back which is difficult to overcome.
Take the time to get to know the client you're speaking with on a personal and professional level. A few minutes of discussion about how the person you're speaking with came to be with the company they're at can reveal a lot about both the person and the company and goes a long way towards building a connection which fosters trust and respect. If the solution proposed is shown to solve a problem, the objections are more likely to be, "I want this, now how can we make this happen?" rather than, "Why would I ever want this?" The latter is overcome by qualifying the client/company and working to build the value, the first is overcome by addressing the issues and working to find answers. Salespeople are problem solvers (not just pencil sharpeners). Find the problem, create the solution and you'll see objections melt away like springtime snow...
*I invite you to comment here and/or email me directly with requests at deacon@vantageled.com. Vantage LED has white paper resources and more educational material on the website (http://www.vantageled.com), please check it out when you have a moment. Note all posts/thoughts/writings are strictly the viewpoint of me and me alone and do not reflect nor speak for Vantage LED’s beliefs, attitudes, thoughts, etc. unless specifically
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