Objection Handling Made Simple: The Proven 3-Step Framework

Few things are more infuriating than having a product you know is perfect for a buyer, but continually getting shut down, time and time again. “We don’t have the budget.” “We’re happy with what we have now.” “I don’t see the value in what you’re offering.” These are sales objections. And they are usually the biggest hurdle to you closing the sale. But when addressed the right way, they can build rapport, provide valuable buyer insights, and (of course) lead to a serious sales win. In this guide, we’re going to cover the most effective method I’ve found for objection handling. Once you’ve engrained this simple framework into your processes, you’ll be turning doomed deals into sign-on successes in no time. Plus, we’re also going to look at some of the most common sales objections you’re likely to face and how to respond to them using the framework. Sound good? Then let’s go. What Is Objection Handling?  We’ve all been hit with the “no” bomb when talking with a prospect. Unfortunately, in our industry, it’s inevitable. There will always be prospect's concerns that need to be overcome. But getting a negative response doesn’t necessarily mean the deal’s dead in the water. Buyers are people. And when people are unsure about making a change (e.g., buying your product), they’ll throw out excuses for not doing it. In the sales world, these are called sales objections. Now, some of the excuses given to sales reps are legitimate, to be sure. Others are just knee-jerk reactions. But no matter what type of excuse you’re dealing with, you can, in fact, handle sales objections in a way that still leads to closing the deal. Objection handling, then, is how you address those sales objections to continue to move the buyer through the sales process. Again, it’s all about understanding their concern (whether legitimate or not), addressing it, and easing their mind. Only then will they be ready to buy. Why Do I Need to Master It? Objection handling is a challenge to be sure. HubSpot found 42% and 35% of salespeople think addressing objections involving urgency and price, respectively, were the top challenges they face. Plus, there are some profound benefits to better sales objection handling. Benefits like: * Need It to Close – The most obvious benefit, of course, addressing sales objections gives buyers peace of mind. It helps them better understand why your product is suitable for their organization. And that means you’re one step closer to “yes.” * Provides Buyer Insights – Sales objections are a window into the mind of your buyer. What issues are they concerned about? What’s most important to them? These details help clue you into what points to focus on during your pitch to maximize your closing success. * Demonstrates Your Knowledge – People want to buy from someone who knows what they’re talking about. If you’re scrambling to come up with an answer to an objection, you’re tanking the deal. But someone who effortlessly and effectively moves through the objection handling process is going to look like an expert. * Builds Serious Trust – When you address your buyer’s objections, you’re proving you take them seriously. You aren’t just some smarmy salesperson only looking to close. Instead, you want to truly solve their problems. And that means more loyal, enthusiastic buyers for you. The Objection Handling Process: 3 Steps to “Yes” Now that we have a better idea of what successful objection handling does for us, let’s take a look at how to do it right using the framework. This framework consists of three steps with two...