How to Better Handle Objections During a Sales Negotiation

Every sales negotiation can be stymied along the way by customer objections. The trick is not to be tripped up by these sales hurdles but to overcome them and continue on toward a mutually beneficial agreement.

No sales negotiation training program worth its salt would be complete without a section on handling buyer objections effectively. At some point, your customer, their boss, another stakeholder, or their procurement department will voice a concern that stands in the way of gaining a common accord. It could be around price; it could be around timing; it could be preference for another approach or provider; or it could be more substantive around the solution’s real effectiveness at solving the core issue. Whatever the objection, it needs to be addressed as part of the sales negotiation process before a buying decision is made.

We believe that the simpler the process, the more likely it is to be remembered and put into practice. Here is a three-step sales negotiation methodology that can be followed to address any obstacle that is thrown in your path.

1. Stop.When an objection is raised during the sales process, you need to stop and acknowledge it. You may be tempted to ignore it, but it rarely goes away. If you have a simple reply that addresses the problem, handle it on the spot. If it requires more thought and some research, say so and commit to reporting back on the issue. And then do so.
   


2. Look.Explore the issue further to make sure you understand what is behind the objection. Is it simply price, for instance, or is your customer looking for an easy excuse to disengage? You need to uncover the root cause of their hesitation before you can respond appropriately and effectively deal with it. During sales negotiations, price is often a red herring for an underlying problem that has not been fully articulated. It is your job to probe for the real cause all the while reminding yourself that objections are a natural part of the sales negotiation process.  The good news is that stating an objection means your prospective buyer is still engaged.
   


3. Listen.Clarify your understanding of the problem and then propose a solution. Listen with both your eyes and ears. Body language may tell you more about how your solution is received than the words your customer uses. Your challenge is to remain focused on the ultimate prize…the negotiated deal that represents an agreement that satisfies both parties and helps your client to succeed.

For more information, please visit: http://www.lsaglobal.com/sales-negotiation-training/