MOST SALESPEOPLE view objections as hurdles in their path to crossing the finish line of the sale. They could not be more misguided. Objections are opportunities to demonstrate the value of the product, the quality of your store, and your own knowledge. When you know how to properly handle them, objections can actually lead to higher closing ratios than ever.
So why do customers object? More often than not, they just want to be sure they’re making the right decision. One way to be proactive at handling objections is to ask the customer questions before they arise, and then answer any concerns they may have. This strategy shows you care, and wins you huge points towards closing the sale.
There are three types of objections you will need to handle in almost any sale. They are:
1. Price objections. Examples include “It’s cheaper down the street,” and “That’s more than I want to spend.” If you are getting lots of price objections, it means you’re not romancing the product enough, and therefore its perceived value is not as high as it could be. Whenever you receive a price objection, do not walk away to bring back a lower price. Instead, re-romance the product and re-establish its worth. This will restore the customer’s confidence that they are getting a great value for their investment. Your ability to enthusiastically romance the product will decide whether they buy or walk.
2. Indecisive Objections. Examples include “I just started looking,” and “I can’t buy this without my husband.” If you get lots of indecisive objections, it means you are not reassuring the customer enough. Unlike price objections, you don’t know exactly what’s keeping an indecisive customer from buying. Therefore, the only way to make them believe this is the right product and now is the right time to buy is to reassure them that they are getting an amazing deal on an amazing piece of jewelry. In this case, you will need to not only romance the product, but remind the customer of the incredible reaction this product will elicit from all who see it.
3. Integrity objections. Examples include “The guy down the street said…,” and “How do you know it’s a ‘G’ color SI1 clarity?” If you are hearing many integrity objections, it means you need to sell company benefits more often. These are the value-added services or guarantees your firm offers to make the buyer feel secure in their purchase.
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Any integrity objection can and should be dealt with by referring to your company’s tangible commitment to excellence. For example, on-site goldsmiths, a written guarantee of quality or money back, and GIA or AGS certificates on your diamonds all qualify as supporting benefits they can see and touch, and therefore believe.
In any sales presentation, you will probably encounter multiple objections, sometimes of all three types. No matter what type of objection you encounter, never allow an objection to go unchallenged. I have stated in previous articles that in order to be successful, you must close throughout your presentation, and handling objections is no exception. When you not only answer the customer’s questions but are able to deliver a closing line as well, you have moved them that much closer to the culmination of the purchase.
Objections are clues, and if you follow them you will find yourself romancing the product more effectively and reassuring customers more often. Building that kind of value and trust is the key to making more money in sales than you ever dreamed possible. And who can object to that?
