Okay, let's set the stage. Let's say you're a fledgling business owner. Like most entrepreneurs, you probably pictured your business progressing smoothly when you were starting out. Though you were aware of the challenges, you probably glossed over them as you were caught up in the excitement of striking out on your own.
Maybe you imagined that finding your marketing groove would be easy and instinctual. Or perhaps you imagined that your operational expenses would not be as high as you’re currently experiencing. But one ideal business scenario we’re sure most business owners had at the start is that they would immediately find a SMOOTH conversion process.
If it sounds too good to be true, then it probably is.
And why do so many entrepreneurs dream of that? It’s because conversions are the backbone of driving profit and growing your business. And most conversions have a similar obstacle that most business owners fail to prepare for—and that is the business sales objection!
No matter how smooth your sales pitches are or how creative and captivating your marketing campaigns look, consumers just have more leverage nowadays. With the power and convenience of the internet, prospects can explore multiple businesses in one sitting. They are also more familiar with the various marketing approaches and techniques that brands use, making them more resistant to being sold to. The power to influence their buying decisions and entice them to fully engage with a business is truly something you need to work for.
Sounds like a nightmare, right?
But if you put things into perspective, business is a game of risks. Rich opportunities also bring chances of failure, but it’s along this line that you find success. Therefore, entrepreneurs should approach every business problem with a glass-half-full mentality, especially when it comes to sales objections!
As you probably already know by now, sales objections are unavoidable. They can also be disheartening, which is why many entrepreneurs make the mistake of thinking that when a customer objects that it means 'no' and that's that.
Here's what you have to keep in mind: unless your customer explicitly and directly tells you that they’re not willing to engage with your business, then there’s still a chance to turn things around.
You still have a shot, so don’t lose hope!
You see, business and sales objections are more about customers’ concerns, fears, and doubts, rather than an active dislike for your brand or your offerings.
When dealing with issues like this, the most fundamental thing you should do as an entrepreneur is LISTEN. Although it can be tempting to react immediately and defend your business offers, you have to understand that this won’t help your case at all.
Joey knows what to do.
It can make you look desperate and untrustworthy, and make customers feel like their concerns aren’t being heard. Always remember that they can smell nonsense from a mile away—they know when they’re being buttered up.
So instead of giving in to your emotions, be as objective as possible and focus intently on what your customer is saying. More than anything, customers want to feel validated. Most of the time, their objections will contain the underlying concerns that could help you better understand their needs and wants, and it is your responsibility to meet them where they are.
You can start by asking follow-up or leading questions to further define the objections. And by leading questions, we mean ‘what’ and ‘why’ questions, to enable your customers to give in-depth explanations of their issues. You can then properly organize your thoughts, determine the right angles to use, and respond with absolute confidence and clarity!
Now, will that be enough to fully convert your prospects?
Nope.
There is no end-all-be-all strategy for getting a 100% conversion rate because your prospects’ buying decisions will always be beyond your control. Some prospects will simply not be the right fit for your business. The point here is that you shouldn’t treat objections as deal-breakers. They are chances to convince your prospects or, failing that, chances to learn more about what your audience wants.
While embracing business sales objections is daunting and scary, developing a positive mindset and having confidence in the value of what your brand offers will help carry you through the process and bounce back no matter how your customers respond.
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