What are the most common sales objections and how to respond to them?

Knowing how to respond to your customers’ sales objections can determine the success or failure of your business. 

This is true and, in fact, we have already explained in another post why they are so important and what are the best techniques to deal with them.  

We understand that, although you may be told that there are certain techniques with which to refute your customers’ sales objections, it is always easier if we share with you how to answer them directly. 

And that’s what we’re going to dedicate today’s post to: explaining how to respond to the sales objections that your customers ask you repeatedly and that you don’t know how to solve. 

Let’s put an end to them for good!

Surely, when selling your product or service, one of your customers has said the mythical phrase “I love it and I think it could help me, but it’s very expensive”. 

If so, don’t worry. 

This is one of the most frequent objections in the world of marketing and sales. 

What’s more, if your customers haven’t put this objection in front of you, you’re a dying breed. 

Before we start with the answers to objections, let’s learn what types of objections exist so that we can deal with them successfully.

Most common types of sales objections

If you have been involved in B2B sales for some time, you may be familiar with the acronym BANT. 

It stands for Budget, Authority, Need and Timing.

BANT refers to the four most common sales objections in the B2B industry.

Budget

As for the first objection, surely your customer will tell you phrases like: 

“We don’t have the money to buy.” 

“It’s too expensive for us.” 

“We don’t have the budget for it right now.” 

“We love the product/service, but we have other priorities.” 

Every time you hear this, ask yourself: 

First: what is the real reason behind this objection? Is the price really that high?

You will have to evaluate your proposal with total objectivity. If you conclude that the price is too high, make it clear to the customer the real value of your product, how it differs from the competition and show them that it is their best solution. 

Normally, when faced with this moment, businesses usually propose an immediate discount for fear of losing the sale; but it is better not to give a feeling of desperation. 

Besides, if your product/service is good, all you have to do is show it to your potential customer. 

Don’t forget to always show the benefits you bring, how you solve the possible weak points and present real testimonials that prove that what you offer is what that customer needs.

Authority

If, unlike the previous point, what you hear are phrases like: 

“I have to consult with my department”,

“I’m not sure I want to work with you.” 

“I would need some proof that this works…”. 

It is because the person in front of you does not trust you enough to buy your product/service without thinking about it. 

In this case, check that you have enough online presence and remember that companies work with others they know and trust one hundred percent. 

In this case, you will have to present testimonials from businesses that have worked with you before and show them the “before” of doing it and the “after” of being your partner. 

This is the best way to get other businesses to trust you.

Need

When you hear a customer say, “We don’t need this right now in our business”. 

Open your eyes and listen carefully because you may have a golden opportunity to close a deal. 

In this case, the best thing to do is to see how your product/service can help them solve that problem or need. 

Ask, probe, and qualify that prospect. If you find a solution, it will be yours.

Timing

When we talk about time, we are referring to the urgency with which your prospect needs to solve their problem or meet their need. 

In this case, you might hear: “right now it is not our priority to solve this problem”. 

To solve this sales objection, ask yourself what the reason really is, if it is not a priority and if it is real or if they are just making an excuse. 

The best way to find out is to ask them to explain, in detail, why they believe it is not important to solve the problem and what their current focus is.

How to respond to sales objections when you have the customer in front of you

Now, be prepared to respond to your client’s objections with an art that is not even remotely expected. 

• “I’m sorry, but I’ve seen a negative comment about your business, and it puts me off working with you.” 

Answer: we’ve managed to solve (problem) and so we now offer (solution). I can show you a (customer) success story that expands on this information, a case study of a specific (customer). Would you like me to send it to you?

• “I’m sorry, but I’d rather my company stay out of trouble and let things stay as they are.” 

Answer: you don’t know how happy I am for you, (name)! Can you tell me what solution you are giving to (major pain point)?

• “I’m listening to you and, from what you tell me, you don’t have (product/service feature).” 

Answer: don’t know if you know (partner), we work together with several customers and we meet (feature). So far the customers are quite happy. 

• “Sorry, it is too expensive.”

Answer: i think (product) can help solve (biggest challenge) you shared with me, (person’s name). Imagine the budget you have allocated so far to (the product) without getting solutions. 

• “We are allocating the (problem) budget on another, higher priority item.” 

Answer: I totally understand, (name). You know, we have a client who had the same problem, but he finally bet on (product) and increased his ROI so he could use his new revenue in other areas.

• “I’ve never heard of your company before in my life.” 

Response: we are a company that (explains your product/service). I would love to talk to you more calmly about (pain point) and see how we can help you.

• “I’m sorry, but I’m not interested”. 

Answer: I understand, (name). could I send you information about (pain point)? With the information in your hand, you can contact me again if you change your mind. 

• “Truth be told, I don’t see this having any return on investment.” 

Answer: of course it does! I’d love to be able to talk to you and show you, (name). could we get together this week to look at it? 

• “Your competition is cheaper than you.” 

Answer: That may be so and, but (competitor) doesn’t offer (solution). In the end, it will be worth the additional expense of (feature) to solve (problem). Accompany your argument with testimonials.

Now you are ready to lose that fear of facing doubts because you now know how to answer the most common sales objections among your potential B2B customers. 

Give them a try and drop by the comments to tell us if you have successfully dealt with these objections. 

We are looking forward to hearing from you!