As we are familiar with the word, sales mean the blood of the business body. Sales of products or services generate the much needed cash flow that leads to profits. With other helping agents, sales contribute the highest revenue ratio to any business, big or small.
Having prospective customers making sales objections isn’t the most appropriate business practice, right? But sales objections are more a positive review rather than a negative idea. The sales objections can be overcome by the sales team to make it easier for the prospective customer to decide upon their purchase.
What is a Sales Objection?
Sales objection is the barrier or the cause for which the buyer hesitates in buying your product. Simply put, it means that there is an issue or issues that the prospective buyer has noticed in your product or service and brought to your knowledge. These issues are brought to your notice before the purchase, so they work as a barrier to the purchase.
The barrier of the purchase needs to be handled by you and your team. This is how you can ensure that the complaining client buys the product or service. It is essential to see the sales objection as an opportunity to:
- Know about your product through probable consumers’ thought process
- Know more about your product
- Use this situation to work on the product or service and bring the necessary changes to make it even better for the consumers.
There are many other ways a business can presume the sales objection positively. Platforms like Odoo and other POS systems like Clover and Moneris are significant factors that bring insight to the company regarding sales objections and how to handle the complaints to overcome them.
How to Handle the Sales Objections?
Like all other things, sales objections need to be solved in adequate time. Time is of the essence, as a prospective customer probably has a lot of options in the market. If they are ready to give you a feedback, they may be interested in your product or service or think that your product is better than others, which is, of course, a good thing, and you want to keep it that way.
There are multiple ways of handling sales objections. Once you overcome the objection, you should ensure that the person who brought the objection to the surface is ready to purchase; if not, they are probably just a brush-off. You want to be sure that the sales objections are genuine and that any customer is not fooling you into wasting your time and your business’ resources.
You can handle sales objection in mainly two ways:
- Change the mind of the person who brought the sales objection to the surface. Make your sales team talk to them and see if they can change their thoughts about your product or service.
- Remove the objections from the product or service. This may be a lengthy process. You might have to run the product through the process of production and make changes; this will need money and time to be reinvested in the product. Before you take this route, you should be 100% sure that the person will buy the product after the changes.
On the Odoo platform, the business gets a lot of facilities, including the feature of getting to know about stock and inventory. This can come in handy when dealing with sales objections. You can check on the supply and see if the problem is just with one batch of product or if the entire batch can have the same objections.
On sales (POS), the customer will interact with systems like Clover or Moneris, so these systems can also store information like barcodes, etc. This information also helps identify the products and how many are left from the stock, whether the products need restocking, etc.
How to Overcome Sales Objections?
We understand that a sales objection can be handled and taken positively. We need to learn about how to overcome sales objections.
There are four steps for handling objections in sales:
Acknowledge:
When a person raises a sales objection, you must listen to their concern and show them that you care about their review. The prospective customer may have vague knowledge about the product and be confused instead of having an objection.
Talk to the customer and try to enlighten them with in-depth knowledge about the product. Keep the tone courteous and not dictating. The customer wants to think they are correct, no matter what, so structure your information keeping it in mind.
Clarify:
If you have talked to the customer and still see that the sales objection stands its ground, you must move to the second step. This step means investing time. Talk to the customer in great detail and listen attentively. You want to understand what the prospective customer wants you to do.
Once you understand their perspective, go through it again with them to leave out any chance of doubts and errors.
Address the Objection:
Now that you are clear about the objection, tell the customer their sales objection has been taken up. Regard the prospective customer with an appreciation for bringing the objection to your knowledge.
Relate the objection with their thoughts and take feedback on what they think will make a difference for them.
Confirm:
In the last step, you must provide surety to the person who brought the sales objection. They need to know that their concerns are valid and that the business will dig deeper.
In the last step, you also want to ensure that once the objection has been eliminated, the person will go ahead with the purchase; if the person doesn’t provide a solid answer, then this whole thing was probably a brush-off.
Conclusion:
Sales objections are a part of any running business, especially if any new product or service is launched in the line of products. How the business handles the objections makes a lot of difference.
Businesses take help from platforms like Odoo and systems like Clover and Moneris to bring about the change and make prospective customers become loyal consumers.