Famous Four Objections in Closing a Sale
February 3, 2016 |
Peeyush Sharma
Described in different terms, these four are considered as the main causes why a sale does not see its’ closure. Seen particularly from the prospective of a sales person, the main hurdles in closing a sale are:
- No Money
- No Time
- No Rush
- No Confidence
These are valid reasons and crop up in different ways, manners and expressions. Let us re-visit them and understand how they impede sales – be it a product, a service or a solution.
No Money: A very pertinent reason. A prospect might look at a product and find it a fit in his/her scheme of things but is not able to afford it. This is a common occurrence in our daily life. We do see stuff, or think of products that we desire to own but defer the purchase as we cannot afford the cost. Financial constraints could be a cause, even if temporary. Or it could be plans for spending on it in future or preference for a competitive product. Thus a sale does not get made, at least not immediately. For instance, as a web development company we often find clients deferring a decision on revamping a website or installing a new application as they feel this initiative can be postponed till later. This is a concern and shows up quite early in a sales presentation. Any seasoned sales person would understand this and sense this cause and the best way to treat it is by winning the confidence and trust of the prospect, keeping alive the possibility of a sale in future. At this juncture, the best option is to provide a proper introduction to the product, the company, its services, the product’s availability, the price knowledge with terms and so on. But caution should be maintained in never applying pressure to close a sale. As a sales person, you may correctly guess the real cause but never make it evident as you may end up hurting the client’s sensitivities. It is best to ask the client/prospect how he/she would like to take it from there. Many a time a sales person abruptly ends a presentation or pushes it too far to embarrass the prospect. This possibility of a future sale is also lost in such circumstances. One must be cautious. In business, we must always watch our words and actions and body language and expressions. We are expected to set professional standards and abide by them. Always respect the prospect or the client.
No Time: This is another situation that reveals itself in the early stages. In the world of business, in the life of any modern day man/woman, time is a precious commodity. No one can afford to waste it. Thus very early in a presentation this objection can come up and should be addressed straight in a matter-of-fact manner. A prospect who is not genuinely interested would never waste his/her time, leave alone the time and efforts of a sales person. Simply put, if someone has the time to sit through a presentation, then time constraint cannot be the real cause for a sale not reaching conclusion. The real objection lies somewhere else and this reason is only a camouflage.
No Rush: This is procrastination by a client or a prospect. It is most unreal of all objections. You would know immediately that the real cause for the sale not happening lies somewhere else. The reasons described in Objection number 2 above are all applicable here. The rule of the game is, if you have time to waste please do it elsewhere, not with me. Any sales person can sense this at an early stage and should refuse to proceed and rather look for the next prospect, as there is always some prospect that is more serious than this one. Many a time a prospect (suspect) is only trying to gather information for various reasons. The sales person needs to be aware and smart in handling such situations.
No Confidence: This is one real objection that impedes a sale. In other words it could be termed as no trust or doubting the very bonafides, the credentials, sincerity, intention, or as one may like to name it. This could be a lack of trust in the product, the company, the presenter, sales team, the store, the solution being offered… any such reason is possible. As a Sales Person this is our biggest challenge. Be patient, reasonable, truthful and honest in presentation of product or service. Make sure, one hundred percent that this is something suitable to the prospect and the client will gain from it. Especially when we talk about web or
app solutions, remember you are offering the client a solution customized for his/her needs and requirements. He may or may not need additional features which your package offers. Be ready to modify/add/delete
ecommerce features, app solutions,
web design functionalities or web marketing features as per the client’s specific requirements. Never push or rush a client. If you do not have all the answers then have a back up to call and cater to everything the client needs. Trust is gained slowly and professionally. Keep all your material ready beforehand – presentations, sample products, applicable solutions, in-hand demos, pens, calculators, whatever you need. You must be prepared for your day’s best and most rewarding sale. When a customer with ‘No Confidence’ agrees to your deal or project solution, it is a true recognition of your professionalism. All other objections may actually have been a cover up under the sheet of this ‘No Confidence’ objection. Every customer needs proper attention, reliable and intelligent information, a suitable product or service and trustworthy and honest dealing. Once this is established, you will now receive thanks from the customer and even references and recommendations. These are true rewards. Value them. ——
Peeyush Sharma
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