The internet is a powerful medium that has an equally sacred and affable reputation as a source of research. More often, news reports have to be corrected because information has been based on unconfirmed foundation. Innocent information is also often accepted unthinkingly. How many famous quotes from others have already been put to the name of Abraham Lincoln or Albert Einstein? This is also the case when we look at data available on the internet about sales effectiveness and the figures that we receive from Salesinteract by measuring.
Salesinteract is an interactive CRM that makes it possible to involve your customers or prospects in the purchase or delivery process. This gives us the ideal basis for carrying out a variety of measurements and testing data that roam the internet. Thanks to a unique and simple dashboard, fully based on the modern sales professional, Salesinteract makes it possible to work more efficiently and to be informed of your customer’s actions, so that you can act directly to it. The system is designed in such a way that everything can be done on minimal effort.
What is being said about sales professionals?
At this moment, the generally accepted figures taken by the bank are as follows. 48% of the account managers never follow a prospect. That means that just under half (!) Of all sales professionals leave it after one contact moment. 25% of sales professionals then stop after the second contact moment. If there is no result out of that, 12% of the account managers or sales professionals will leave it after a third contact moment. Only 10% of all sales professionals across the board of product suppliers and business service providers have more than 3 contact moments. This would mean that 85% of all sales professionals work ineffective. A shockingly high number, is not it? Of course you would like your people to excel in the professional field and never to be among those 85%.
At Salesinteract, we started working on these figures and we started measuring all our users – with permission – how they relate to the above data. This resulted in very different figures. Over the past three months, we have looked at several organizations of the total sales operation that uses our system and, based on the activities we saw, managed to create a clear overview.
What do we measure with Salesinteract?
15% of all sales professionals never follow a prospect. After a second contact moment, 7% stops. Incidentally, this can also be fine because a lead or prospect is then qualified and is actually identified as ‘no interesting prospect’ according to the values of the organization. But let’s assume that it always
is a interesting prospects, then that 7% is significantly lower than 25% that
the Internet predicts us. In our measurements then 3% of the
sales professionals stops after a third contact moment. In the end more than 70% follow
just up until a real ‘yes’ or ‘no’ comes from a prospect. Our measurement is
founded and exhibits minimal deviations, but we are also at Salesinteract
aware that the parties we are working with use the system not yet perfect.
There are numerous functions available in the convenient dashboard
t to help sales professionals work more efficiently and to assist the customer
involve in the process.
When the users use Salesinteract CRM completely according to the philosophy of Salesinteract
and would not allow activities to go ‘over date’,
then the measurements would undoubtedly be even more greater in results. We work there
to make that happen, because in the long run all sales professionals and managers
find a way to focus on the customer instead of all sorts of things
administrative and distracting tasks, both parties in the process are better off.
Of course we can not sit on the chair of the user, but we can offer all functionalities easily and clearly.
Salesinteract offers, in addition to efficiency and ease of use, a way to help your customers
and involve them in your process. Think of a chat function and easy way to share files to your
Another plus is that the system gives a complete insight into what on the
sales department is done. Managers can easily create a real-time overview
track on all points. Are agreements followed? How many contact moments
does my team have on average? How many leads, prospects and active customers have
we now and what status do they have?
Also a direct overview where what information is sent to.
This means that other professionals can immediately start working if a colleague fails
at the same point further. Everything is available from one location, always and everywhere
, designed in a clear and well-organized dashboard.
Knowing more? Feel free to contact us:
+31 (0) 20 2410771
Sales Objections About Price and Budget
1. “It’s too expensive.”
Price objections are the most common type of objection, and are even voiced by prospects who have every intention of buying. Beware — the moment you start focusing on price as a selling point, you reduce yourself to a transactional middleman. Instead, circle back to the product’s value.
2. “There’s no money.”
It could be that your prospect’s business simply isn’t big enough or generating enough cash right now to afford a product like yours. Track their growth and see how you can help your prospect get to a place where your offering would fit into their business.
3. “We don’t have any budget left this year.”
A variation of the “no money” objection, what your prospect’s telling you here is that they’re having cash flow issues. But if there’s a pressing problem, it needs to get solved eventually. Either help your prospect secure budget from executives to buy now, or arrange up a follow-up call for when they expect funding to return.
4. “We need to use that budget somewhere else.”
Prospects sometimes try to earmark resources for other uses. It’s your job to make your product/service a priority that deserves budget allocation now. Share case studies of similar companies that have saved money, increased efficiency, or had a massive ROI with you.
5. “I don’t want to get stuck in a contract.”
A prospect with a genuine need and interest who balks at time-based contract terms is generally hesitant for cash flow reasons. Luckily for you, there are workarounds — find out if you can offer month-by-month or quarter-by-quarter payment instead of asking for a year or more commitment up front.
Sales Objections About the Competition
6. “We’re already working with [Vendor X].”
A prospect who’s working with a competitor is a blessing in disguise. They’ve already recognized a need and identified a solution, so much of the education you’d otherwise be responsible for has already been done. You can spend your time doing the one thing you’d have to hold off on with a prospect who hasn’t recognized their pain yet — talk about your product.
Just because a prospect is working with a competitor doesn’t mean they’re happy with them. Probe into the relationship: Why did they choose this service? What’s working well? What’s not? Pay special attention to complaints that could be solved with your product.
7. “I’m locked into a contract with a competitor.”
Perhaps the easiest competitor-related objection to handle, this phrase is worded in a way that broadcasts your prospect’s feeling of being trapped. See if you can come up with a creative discount to offset the cost of breaking a contract early, or demonstrate ROI that will make up for the sunk cost.
Of course, your prospect could have simply chosen an overly negative turn of phrase. Ask them point-blank how the relationship is going to determine whether they’re actually happy or are itching for a vendor switch.
8. “I can get a cheaper version of your product somewhere else.”
Find out what you’re dealing with here. Are you in a competitive situation, and the prospect is playing you against a competitor to drive up discounts? Or is your prospect under the impression that a similar, cheaper product can do everything they need?
If it’s the former, lay out your deepest discount and emphasize the features that make your product superior. Walk away if they ask you to go lower. In the second scenario, take advantage of the comparison. What are the points of differentiation that provide your prospect the most value? Play them up and emphasize overall worth, not cost.
9. “I’m happy with [Competitor X].”
What if your prospect is happy? The same strategy still applies — find out why they believe their relationship with your competitor is beneficial, and identify weak spots where your product could do better.
10. “Competitor X says [false statement about your product].”
According to creator of Your SalesMBA® Jeff Hoffman, salespeople should respond with,
“That’s not true,” then pause.
Hoffman says 90% of the time this reply will satisfy the buyer and they’ll move on. You’ll seem confident and collected, whereas your competitor will seem desperate and insecure.
If your prospect is still unsure, they’ll ask another question. At that point, you can provide more background, like so:
“We manufacture our products in Canada, not Thailand. I have a map of our factories and distribution routes if you’d like to see it.”
Sales Objections About Authority or Ability to Buy
11. “I’m not authorized to sign off on this purchase.”
No problem. Ask your prospect who for the name of the right person to speak to, and then redirect your call to them.
12. “I can’t sell this internally.”
Well, your prospect might not be able to, but you can. After all, you sell your product every day. Ask your prospect what objections they anticipate, and help them prepare the business case for adopting your product. Check with Marketing to see if there’s any collateral you can leverage on your prospect’s behalf.
13. “[Economic buyer] isn’t convinced.”
If you’ve already addressed objection #12 by providing internal selling advice and coaching and your prospect just can’t hack it, it might be time to walk away. While it’s heartrending to give up on a prospect who’s on your side and just can’t convince the higher-ups, it’s also a waste of your time to keep butting heads with someone who will never see your product’s value.
14. “We’re being downsized / bought out.”
This happens rarely, but when it does there’s usually nothing you can do. If there’s no more company, there’s no more deal. Wrap the relationship professionally so when your prospect finds a new gig, they’ll be more likely to restart the conversation from a new company.
15. “There’s too much going on right now.”
Ask your prospect to define their competing priorities for you. If they can’t, it’s likely a brush-off and you should press them on precisely why they don’t want to engage with you.
If they can provide concrete answers, don’t sweat it. Set a meeting time for a follow up and send over helpful resources in the meantime to stay on your prospect’s radar.
16. “I’m part of a buying group.”
Buying groups enable independent companies to team up and make joint purchases from vendors — usually getting a far better price than they’d be able to secure on their own.
If your company isn’t on their list of approved suppliers, however, your prospect probably won’t be interested. After all, you can’t offer them the same discount for purchasing in bulk.
Respond to this objection by delving into the details of their membership. Are there limits on who they can buy from? What price are they currently getting? Which companies belong to their buying coalition?
When you’ve learned more, you can decide whether it makes economic sense for this prospect to work with you — and if there’s an opportunity to become one of their buying group’s vendors.
Sales Objections About Need and Fit
17. “I’ve never heard of your company.”
Treat this objection as a request for information. Don’t give an elevator pitch, but provide a very quick summary of your value proposition.
“We’re a company that sells ad space on behalf of publishers like yourself. I’d love to speak with you about your revenue model and see if we can help.”
18. “We’re doing great in X area.”
If you hear this objection, do a little more qualification. What are your prospect’s goals? How much progress has been made?
19. “We don’t have that business pain.”
This objection is often raised as a brush-off, or because prospects haven’t realized they’re experiencing a certain problem yet. And while ultimately you might discover they really don’t need your product, don’t take this objection at face value.
20. “X problem isn’t important right now.”
Sometimes, a simple “Oh?” will be enough for your prospect to start talking. Listen closely for real reasons the need has low priority versus platitudes. Keep in mind that excuses can be a sign that your prospect understands they have a problem and is trying to rationalize their inaction. Capitalize on this and instill a sense of urgency.
21. “I don’t see what your product could do for me.”
Another request for information packaged as an objection. Reconfirm the goals or challenges you’ve discussed and explain how your product can solve specific problems.
22. “I don’t understand your product.”
If your prospect literally can’t wrap their head around your product, that’s a bad sign. If your product is particularly complicated or specialized, it may be time to disqualify your prospect lest they churn two months from now.
Don’t give up immediately, though. Ask your prospect what aspects of your product they’re unclear on, then try explaining it in a different way. Alternatively, bring in a technician or product engineer to answer questions out of your depth.
23. “I’ve heard complaints about you from [company].”
Word-of-mouth reviews are powerful, which can be both a blessing and a curse. Rather than immediately defending your solution, business, or brand — which will only validate the criticism — say something along the lines of, “Thanks for sharing that feedback with me. I’ll pass it along to [relevant department].”
Then follow up with an offer to add value, such as, “While we’re on the phone, would you be interested in hearing a few tips for improving your average invoicing turnaround time?”
This gives you an opportunity to establish credibility and trust with your prospect. Once you’ve given them a positive experience, they’ll naturally form a high opinion of you.
24. “We don’t have capacity to implement the product.”
This objection can be a deal-killing roadblock. Depending on what product you sell, it’s possible your prospect will have to add headcount or divert resources to fully take advantage of your offering, and if they truly aren’t able to, you might have to disqualify.
Another tactic is to assess your prospect’s current duties and day-to-day to see what job responsibilities could potentially be eliminated or made easier by your product.
25) “Your product is too complicated.”
Find out if your prospect is confused about specific features or if the product is indeed over their head. If it’s the latter, you might have to disqualify. But if it’s the former, remind your prospect that they’ll have help from your customer service team should they choose to buy and that you’ll be on hand to answer any implementation questions they have.
26. “You don’t understand my challenges. I need help with Y, not X.”
It’s crucial to make your prospect feel heard. Restate your impression of their situation, then align with your prospect’s take and move forward from there. A lot of misunderstandings and hard feelings can be resolved simply by rephrasing your prospect’s words.
27. “You don’t understand my business.”
If you sell to a specific industry, chances are you do know a bit about your prospect’s business. Let them know that you have experience working with similar companies, and have solved similar problems in the past.
If you simply made an incorrect assumption about your prospect’s company or industry, don’t be afraid to own up to it. Your prospects will appreciate your candor. Say, “Sorry — I assumed X was true, but it looks like that doesn’t apply to your business. Can you tell me a little more about X?”
28. “Your product doesn’t have X feature, and we need it.”
Try suggesting a supplementary product that can be used in conjunction with yours. But if that specific need is a must-have and your product can’t solve it, your prospect might not be a good fit. Time to disqualify and move along to a better fit opportunity.
29. “We’re happy the way things are.”
Maybe everything really is going swimmingly. But more likely, your prospect is having some sort of challenge (after all, who isn’t?). Do some light qualification to determine if they’re facing any problems you can solve, then move forward or disqualify based on their answers.
30. “I don’t see the potential for ROI.”
This is a sign that you’ll have to prepare a formal pitch for either your contact or her managers, either using internal numbers provided by your prospect or customer case studies. Nothing sells quite like hard numbers.
31. “X is just a fad.”
You might hear this objection if your product pioneers a concept that’s new to your prospect’s industry. For example, social media is now widely accepted to be a necessary part of a sound business strategy, but seven years ago many would have scoffed at it.
Now is the time to pull out any testimonials or customer case studies you have to prove ROI of your product. If you’re pioneering a new concept or practice, you’ll have to show that it works.
32. “Your product doesn’t work with our current [tools, set-up].”
This objection can be a deal-breaker if the buyer is committed to their existing solutions. However, sometimes your product will replace these tools or make them obsolete. A workaround may be possible as well.
To find out, ask these questions:
- “Which tools are you currently using?”
- “How integral are those tools to your [strategy for X, department, individual responsibilities]?
- “What do those products help you accomplish?”
33. “Your product sounds great, but I’m too swamped right now to handle [implementation, roll-out].”
Prospects are often put off by the effort required to switch products, even if the ROI is substantial.
To empathize with them, prove that you’re trustworthy, and ensure they do have the bandwidth, say, “I understand. It typically takes our customers [X days/weeks] to get fully up and running with [your product].”
Next, combat their reluctance to change by digging into the costs or pains of their current situation.
To give you an idea, you might ask, “How many minutes do you spend every day [on X task]?”
Then calculate what they stand to gain — in time, efficiency, money, or all of the above.
Sales Objections that Are Actually Brush-Offs
If your prospect hangs up on you, don’t sweat it — it happens to everyone eventually. Try reaching out to a different person at the company using a different approach.
Or you can go on the offensive. Wait a few seconds, then call back and say, “Sorry, looks like we got disconnected! Do you have a few minutes?”
Which approach you choose is purely dependent on how your conversation with your prospect went before the hang-up.
35. “I’m busy right now.”
Of course your prospect is busy — almost every professional these days is. Simply explain that you’re not looking to give a full-blown conversation, just have a quick chat about whether or not a longer discussion about your product would be a good fit at their organization.
36. “I’m not interested.”
During a prospecting call, it’s far too early for a prospect to be able to definitively say they are or aren’t interested in your product. Offer to send over some resources and schedule a follow-up call.
37. “Just send me some information.”
This is a great opportunity to segue into some qualification. Say, “I’d be happy to send you some materials, but I want to make sure that they’re relevant to you. What are you interested in learning about?”
38. “Call me back next quarter.”
Prospects will often say this to dissuade you from pursuing a conversation. But don’t let them off that easily — it’s a vague brush-off uttered in the hopes you’ll fade away and disappear. Ask, “What’s going to change next quarter?” to question their motivations for brushing you off.
39. “How did you get my information?”
Hopefully, you’re not pulling numbers from lists you got off the internet — because if you are, your prospects have every reason to be annoyed. Don’t get defensive — simply remind the prospect that they filled out a form on your site, or signed up for more information at a trade show, or that you simply came across their website and wanted to reach out to see if you could help.
40. “I hate you.”
A disclaimer: Generally, prospects won’t actually come right out and say this. And it’s obviously not necessary to become best friends with someone to sell to them. But if you and your prospect really just don’t get along, consider handing them off to a colleague lest your company lose the deal for good. The upside? This objection has nothing to do with your product or its value.
Objections are an inevitable part of sales. Some are legitimate reasons to disqualify, while others are simply an attempt to brush you off. But as long as you’re familiar with common objections and equipped to answer them, you’ll be able to distinguish between prospects who have the potential to be good customers and prospects with whom you need to part ways.
SALESINTERACT RECEIVES THE FIRST AWARDS!
We are pleased to announce that after an independent review, FinancesOnline has awarded Salesinteract 2 Awards for Rising Star and Great User Experience 2018 for our online interactive sales crm. FinancesOnline is a popular SaaS rating platform that helps people choose the right SaaS solution for themselves and their businesses. Click here to read the review about Salesinteract.
It has been a wild journey since the start of Salesinteract began in 2018.
The team is honored to be recognized by FinancesOnline. We have a number of big plans ahead for this year. Would you like to try out Salesinteract? Then register here and try us out free for 30 days.
About the Awards
FinancesOnline commends SaaS solutions that provide an exceptionally pleasing user experience with its Great User Experience award. Factors that contribute to this recognition include ease of use, well-designed interface, and intuitive features for facilitating work processes. This recognition can be given to software solutions on any given category, such as Salesinteract in the 15 best sales software by FinancesOnline. Meanwhile, those that receive the Rising Star award have proved beneficial and reliable to real product users as referenced by their highly positive feedback from clients.
FinancesOnline’s experts derived their rating and awards for our advanced sales software with the help of their unique SmartScore System and Customer Satisfaction Algorithm. The former helps their experts create objective reviews by analyzing features that matter to users, such as main functionality, collaboration features, customization, and integration, among others. Meanwhile, their Customer Satisfaction Algorithm collects the opinion of users from across the internet to determine the general consensus of users about a product.