Part of what makes sales so fun/challenging/exhausting (depending on your point of view) is overcoming objections. Objections are all of the reasons why a lead doesn’t want to buy from you. Sometimes objections are silly, sometimes they are reasonable, and sometimes they offer no explanation and just hang up the phone.
Dealing with objections is about knowing what is a normal part of trying to convert a lead and what is a lost cause. That’s why we are providing you with the top 5 most common objections we see, across industries for B2B sales, and our advice for dealing with them.
Before we get into common objections and how to know when to press on or move on, there is something we need to understand about objections and qualifying leads in general. When a lead offers an objection what you want them to actually tell you (other than yes, please take my money) is NO.
That’s right, it’s better to have a lead tell you flat-out NO than it is to deal with an objection. This is because often, objections are just the lead’s way of trying to brush you off without them having to worry about you trying to negotiate or otherwise pressure them. Getting a firm no saves you from following up later on with a lead who has no intention of buying.
Top 5 Most Common Sales Objections & Solutions
- Not sure if now is a good time
- Don’t feel like they have the money for it
- Don’t feel like the expense is justified
- Would prefer to focus on other areas of the business
This is probably the most frustrating objection because you can see they need your help and would benefit from your solution! And often, the prospect agrees with you! However, they just have too many balls in the air or plates on the table or whatever metaphor you want to use, to be able to hire you. It seems counterintuitive – just block aside 1 hr to sign up and let me take that burden off of you, or give you the tools to solve your problem! But when the lead is constantly putting out fires or otherwise trying to climb out of a mess, they just don’t have it in them to be able to take on a new thing – even if that thing will help them later.
Solution: Your best hope for overwhelmed leads is to get a date from them when you should follow up.
Objection: Reluctant about timing.
It might seem similar to overwhelmed in that they say “After X happens then I would be interested.” The difference here is that there isn’t any urgency to solve a problem. Overwhelmed leads want a solution – as soon as they can catch their breath. Leads who say now isn’t a good time or are otherwise reluctant aren’t convinced that they have a problem. Or if they will admit they have a problem, the pain isn’t enough to motivate them to find a solution.
Solution: The first step here is to make sure you are properly focusing on the pain points. Pain points are typically the most effective hooks for SDRs to get leads into the sales funnel, so if yours isn’t working, then you might need to rework your pitch. Failing that, if you keep getting this objection, you are probably going after the wrong leads, and need to rethink your target market.
Objection: Don’t have the funds.
A common response we get from startups is, “We love this and want to use you…but we just don’t have the budget right now.” This is a legitimate objection and is often remedied by a round of funding. But when a well-established business that you know has revenue is telling you that they don’t have the funds – this means you are probably speaking with the wrong department.
Solution: For a business that is small, just starting out, or otherwise going through fundraising, your best bet is to ask them when to follow up. Get a date. If they are being vague about when you can follow up, assume they are giving you the brush-off, but try to get an actual no out of them before you cross them off your list. If you are dealing with a well-funded business that says they don’t have the funds – then you are probably speaking to the wrong person. The money is there, you just need someone who is really feeling the pain of not having your solution to be able to make the money appear. The solution in this case is to find the person feeling the pain and have them find the money, which we discuss below.
Objection: Don’t think your pricing is reasonable.
Some leads know they have a problem and want a solution – they just aren’t willing to pay (what you want) for it. They scoff at your prices and try to negotiate it down. Or they insist that what you are charging is well above what is reasonable or what your competitors charge.
Solution: These kinds of leads are very rarely going to convert, and if they do they probably will be a really annoying client, always nitpicking and looking to squeeze more out of you than what is in your work plan or contract. Let them object and move on.
Objection: Want to focus on other areas first
Some leads have project plans or Gantt charts of how they see their business growing. Perhaps what you are offering is on their plan, but only in a year from now. This type of objection isn’t a no, but don’t get too excited because this will take some work.
Solution: Like in the situation above where the lead says they don’t have the funds, you are probably speaking to the wrong person. If they aren’t interested in your solution now then they probably aren’t impacted by the problem and don’t see the value in adopting your solution now. For example, if you have a solution that can prevent water damage to servers and you are approaching the finance departments trying to show how you’ll save money by not having to fix or replace water-damaged servers and they aren’t interested in the solution, you are talking to the wrong department. A better place to turn would be the CTO who really understands the pain caused by water damage. The CTO will then be your advocate going to the CFO or CEO requesting the funds to buy your solution and prevent a catastrophe.
Need help generating relevant leads, helping your salespeople to overcome objections, or anything else in the sales process? Schedule a consultation with us today, we can help.