Objections get a bad rap in B2B sales. Leads that seem to lead to nowhere and culminate in a “no” when you’ve given them every reason to say “yes” can feel disheartening, even to the most seasoned sales pro. So, we’re here to give you a festive pep talk. Even though we know you know the theory that objections are “buying signals”, we also know you don’t always buy that yourself…
But here’s the thing: B2B sales objections are like misunderstood, naughty children – they seem like bad news, but actually they just want some attention. So, it’s time to give them your full focus and put them on the nice list.
Why B2B sales objections are actually gift-wrapped opportunities to close more business
Sounds like a likely story? Well, it is a likely story. Think about what an objection is – a reason not to buy from you. If your prospect is thinking enough about reasons not to buy from you, they’re naturally considering buying from you.
Let’s take a look at the common objections you’ll hear in B2B sales and why it’s actually like your client writing a little manual about how to get them to say ‘yes’ to you, tying it up in a pretty bow and sliding it right down your chimney.
The Objection: Budget.
We don’t have the budget for this project/We’ve allocated budget elsewhere/We can’t afford this.
A lot of salespeople think that if someone says they don’t have the budget for something, it means that they’re not interested in moving forward with the sale. But just because they don’t have the budget for this doesn’t mean they don’t have any budget.
The gift: It’s a cue for intelligence gathering.
It’s an opportunity to thank them for telling you that. Then asking them questions. What if there’s still money left over? What pain points are they looking to solve, and what are their goals and objectives? What is the cost of not allocating budget to this particular solution? What kind of ROI would make them think again? There are so many potential avenues to explore with a budget or price objection. It’s like the brand new shiny BMX of Christmas morning gifts for your business.
B2B sales objections give you important information about what the prospect wants
Let’s look at this objection as an example.
The objection: Existing supplier.
We’re already working with someone else/We’re locked into a contract.
Unless the contract was signed in blood with a quill pen with your prospect’s very firstborn child as collateral, it’s not a real objection.
The gift: It’s a reason to find out what they want from a supplier relationship.
And if they could get more (from you.)
There could be several reasons why they aren’t happy with their current supplier, so explore what’s working, and what’s not working. And most importantly find out when their contract will be coming up for renewal and what they’d be looking for to consider moving on at that time.
B2B sales objections tell you whether you’re talking to the right person
The number one objective of any telemarketing or sales call is to qualify that the contact you’re speaking to has decision-making authority. In short, it’s a way to make sure you’re not wasting your time.
I need to discuss it with someone and get back to you.
If someone with decision-making authority doesn’t want to hear more about your product/service, they’ll say so. This isn’t a no; it’s a sign as clear as the star of Bethlehem that your contact is, in fact, a gatekeeper.
The gift: You know you need to be finding out who the decision-maker is.
If a prospect indicates they need to discuss this with their boss, then you know you want to be discussing it with their boss.
When a prospect can’t answer a question or make a decision without needing to refer it elsewhere, they’re telling you they don’t have the authority. And giving you the opportunity to find out whose name you need on your contact list instead.
Objections help you build relationships with your prospects
On average, 80% of prospects say no four times before they say yes (Marketing Donut). So objections are not dead ends. The number one objective of any telemarketing operation is to start a conversation that builds a relationship. The fact is objections help you build your relationship and find the true reason for resistance – and give you insight into what drives the person behind the decision.
The objection: Too busy.
This sounds great, but I’m too busy to handle the process of implementation.
What’s driving this objection is a natural reluctance to take on more work when already overwhelmed. The effort required to switch suppliers or roll out a new initiative can be majorly offputting, even if the ROI is concrete and you’ve done a great job of selling the benefits.
The gift: Your prospect just told you they WANT WHAT YOU’RE SELLING.
You’re one step away from a signature.
But first, you need to empathise with them, build trust and ensure there actually is a way to create the bandwidth that enables the deal to go ahead. Next, you need to show them how much you value their time and reinforce the efficiency/time benefits they’ll experience by getting on board. Then really, really, really stick your thumbs in those pain points to help them see how much more they hurt than the small amount of upheaval ahead – and create some FOMO.
Like Rudolph’s beaming red nose, your prospect’s objections light the way for the sales journey. They give you insight into what your prospect wants, needs and values. They help you to understand the challenges they’re facing in their business, and how they see their relationship with your company fitting into that – or not.
When a prospect offers you an objection, they offer you a chance to help them see things differently. So, to do that, you need to see things differently – as a reason to keep the deal moving.
We aren’t saying that you’re going to be able to turn every B2B lead into a sale. But, we are saying that objections really are buying signals in disguise – and the gift that keeps on giving, because the more practice you have seeing them that way, the more you’ll be using them to convert your naysaying leads into paying customers. Now that’s what we call a real Christmas miracle. Click here to unwrap your next deal together.
