To succeed in business, you must live by this mantra: The customer is always right.
But does the same hold true for the prospect?
In fact, if your salespeople can learn how to navigate these uncharted waters, and read a prospect correctly, you’ll increase profits and keep your salespeople very happy.
Dealing with Prospects
Let’s look at this concept through a comparison. When a customer calls in with a complaint, they’re always right. As a business that prioritizes customer service, you do whatever you can to resolve the situation, and make sure the customer is happy.
But that’s not the end goal with a prospect. Instead, salespeople, especially those who are new to the job, need to know when the prospect is absolutely wrong.
An objection is not absolute. A customer who objects to your product is really just a customer with a problem who has yet to find a solution. Or he’s a customer with a question who needs an answer.
For example, perhaps a customer tells you that he heard your product doesn’t clean as well as product X. Or it lacks a certain feature that really has nothing to do with solving the pain point.
In these cases, the prospect is not right, and it’s your job to show them otherwise.
In some cases, a customer might tell you that they don’t have the time it takes to complete the onboarding process. But in reality, they’re just lazy. They won’t ever tell you that, but it’s sometimes the root of their problem.
In this case, the prospect isn’t right, and your sales objective should be to showcase how easy the onboarding process is and how little time the process takes.
If you press a prospect on a cost objection, you’ll often find another reason behind it. While the prospect isn’t right in this situation, salespeople can turn the objection into a “yes” by asking more questions.
For example, you can discuss the losses a business incurs as a result of NOT employing your product as a solution. Consequently, you inadvertently show how your product helps the prospect achieve a cost savings.
Return on Investment
An easy way to disprove cost objections is to talk about return on investment. When prospects object for this reason, they’re not always right.
Let’s say that you’re pitching a payroll service. Walk the prospect through the expense of hiring an internal person to handle payroll. Then, compare those costs to the savings he’ll get from hiring your payroll service. You’ll instantly slash objections to price by proving that you can drastically cut the prospect’s costs.