The word “no” is one of the most dreaded words for any salesperson. After all, when you are trying to close that last deal of the month, the word “no” can feel like a gut punch. What’s more, some salespeople immediately see objections as a call to battle, and their defensive behavior can be the demise of the deal. The truth is, handling objections during a negotiation is never easy, but understanding how to handle objections can help you change the dynamics of the entire negotiation. Here are some tips for managing your stress and overcoming objections to close the deal.
Listen Fully to the Objection
Your first reaction when you hear an objection is usually to respond immediately by defending your proposition. However, it is best to resist this temptation. Quick reactions typically involve emotions and you risk making untrue assumptions. Instead, take the time to listen to the objection fully. Try to ignore any negative emotions you might be feeling and stay focused only on what the other person is saying. Listen with the intention of understanding their concerns and finding a solution. Be sure that your body language communicates that you are listening with concern and not with disdain.
Understand the Other Party’s Real Concerns
Oftentimes, the other party’s objections aren’t the real issue. They may be used to hide an underlying concern. You can’t overcome an objection without fully understanding the reasoning behind it, so it’s important to uncover what the real concern is. To better understand their objections, take a minute to look at your offer from their perspective. Then, ask questions about their feelings, concerns, and hesitation. Let them know you are genuinely interested in their views, as this will help them see you as an ally.
Validate Their Concerns
Our immediate response to an objection might be to reiterate why our offer makes sense, but we have to remember that not everyone sees things the same way. Instead, acknowledge the other person’s concerns and let them know you understand their perspective. Then, provide them with information that helps them view your product or service differently. Offer a new perspective by showing them how your proposition might provide a solution to their needs.
Address the Barrier
After you are confident that you have uncovered the reason for the objection, address it head on. Explain what you can do to resolve the issue and instill trust in the buyer. The more effectively you can resolve the issue, the greater chance you have of moving forward with the deal. In some cases, you might need more information to resolve the issue or you might need to investigate further. Take the time to do your due diligence. If the buyer senses that you are rushing or ad libbing, it will create distrust. Therefore, do what it takes to address the issue and satisfy their concern.