The late Zig Ziglar said that there are five main reasons why people don’t buy, No need, No Desire, No Money, No Hurry, and No Trust. In this blog, we’re going to probe into these and look at what you can do to improve your chances of overcoming these objections and closing the sale.
- No Need: Direct from “Selling 101”: “No need, no sale.” If your prospect really doesn’t have a need for what you are selling, there will be no sale — so don’t waste your time. In a past blog, I wrote about this and used the example of trying to sell pet food to somebody who doesn’t have a pet. They simply don’t have the need for pet food.
Lots of business owners say that they’re looking for ‘anybody’, but not everyone has a need for what they sell. Hopefully, you’re not in this class and you do some pre-meeting planning and know about your prospect’s needs before you arrive. In the past this a lot harder but today with social media and the web it’s possible to do the necessary research before meeting with your prospect. This is a vital step and done right sets you up for success before the meeting, also if you feel that they are just not right for you, you can abandon the meeting beforehand. Giving you the time to work on your most favourable prospect.
In many cases, you are selling a product or service that your prospect doesn’t know about or they don’t know that they need it. There are only two fundamental reasons why people buy:-
- They’ve a problem that they need solving or,
- They’ve seen a solution that they want.
So, in this case, your job is to highlight the problem that they have that your solution fixes, thus identifying the need for them.
- No Hurry: After an outstanding sales presentation, have you ever heard your prospect say, “Let me think about it.” I know you will have because it must be the most common objection of all. In reality, how long do you think that they’re going to think about it? In this busy, busy world, they may think about your proposition for a minute or two — if you are lucky.
If you plan ahead and build answers to expected objections into your presentation, you stand a much better chance at securing the sale. For instance, if you can demonstrate that your product or service saves them money you can answer this objection with “The sooner we can install this fantastic product or you start using our service, the sooner you will be saving money, time, getting better results, etc.”
Then, when the “Let me think about it” comes up, you can come back to the “sooner is better” part of your presentation and remind them of the reasons they should “hurry up.” However, if this still leads them to saying “let me think about it” make sure that you have an effective follow-up system. It’s not their job to remember you, it’s your job to remind them that they still have a problem to be fixed or a solution that they desire and that you’re the one to come to.
- No Desire: The first rule in selling is that people buy what they want, not necessarily what they need. In other words, they have to have a desire for your product or service (promise of a solution to a problem they have or a solution they want but don’t have).
If you are selling cars and someone desires a new car, then your part way over this hump. You’ve still got to persuade them that they actually desire the make or model you sell. However, if you’re selling something a little less glamorous, then you may need to fan the desire. So what does your prospect desire? The simple answer to this is that they desire a solution to the problem they have that they don’t want. By asking the right questions and listening, you should be able to uncover their specific problem and present your solution in a desirable light.
- No Trust: If your prospect doesn’t trust you, they will not buy in a million years. So you need to ask yourself, “Why don’t they trust me?” If you want to build trust and credibility with your customers, and hold on to them for life, follow these 5 important tips:-
a) Avoid selling a solution that isn’t in the customer’s best interest.
Sometimes you just don’t have the right solution at the right price. If that is the case, it is always best to be honest with the customer, instead of proposing something which you know will not fully deliver the outcome the customer is looking for.
b) Never misrepresent the features, advantages and benefits of a product or service.
Customers don’t want a product or solution that only comes close to meeting their needs, or that usually functions properly. Give them the whole, unvarnished truth, and let them decide if the proposed solution will work for them.
c) Don’t promise anything you can’t deliver.
Some sales professionals find it very difficult to say no to the customer about anything. Telling the customer that a certain solution with specific features and benefits will be delivered by a specific deadline, when you know you can’t deliver, is a recipe for disaster.
d) If and when you must speak of the competition, be respectful at all times.
Some sales professionals seem to think that “trash-talking” the competition will make their own products and services look better. Usually, it only makes them look petty and immature in the eyes of the customer.
e) And finally: When you make promises, keep them.
Your first objective is to build trust. There are a number of ways to do this and one of the most important ways is to always do what you say you will do and do it on time.
- No Money: If your prospect doesn’t have any money — I mean really doesn’t have any money — then you don’t want their business. However, this is rarely the case, most times, “no money” means you haven’t convinced them that purchasing your product or service at this time is a better use of the money that they have than all the other things that they could do with it.
For example, if you hear “we have no money in the budget at this particular time,” or something along these lines. Maybe you will have to ask, “How can we help you fit this into your budget at this time, and have you start taking advantage of this terrific opportunity?” Do you have easy payment terms you could apply for this particular case?
You might also find out if there is money in another budget that can be transferred to meet their needs. Make sure to ask lots of questions. “No money” doesn’t always mean “no money.”
Your job as a salesperson/ business owner is to help the buyer overcome these objections and help them take advantage of your outstanding proposition.
Twelve intensive half-day meetings.
