Sales objections are very common in retail. Ordinarily, these objections are usually from buyers who are uninterested, unsure or are not ready to buy. While it may be wise to regard shoppers’ choice to hold off on a purchase, in some cases, you might want to nudge them in the right way or close the sale.
In this blog post, we’ll be handling some of the common objections retailers encounter when selling to customers and how to handle them.
1) “It’s too expensive.”
Pricing is probably the most common type of objection. First, identify why they’re concerned about the cost. Is it because the product is truly out of their budget or they are having difficulty seeing the value of the product? Is it because they feel they can get it for less elsewhere? Try not to concentrate entirely on price as a selling point, rather emphasize your product’s value.
If potential buyers feel that the item is out of their budget, you can perhaps talk about how the product can save them money in the long run. To get customers to see the value in a product, you’ll need to come up with specific benefits that would justify the cost for the buyer.
2) “We’re working with someone else.”
Here, the shoppers have recognized a need and identified a solution already – you only have to convince them that they would fair better with your product or service. Speak about your product; just because a prospect is buying from a competitor doesn’t mean they’re happy with their services. Probe into why they chose that service? What’s working well? What’s not? Pay extra attention to any dissatisfaction that could be solved with your own product.
3) “I’m not interested” or “Just go away!”.
It might even be ruder than that!! Well, how would they know if they don’t have any facts? Offer to send them some literature and schedule a follow-up call if you can. If your prospect hangs up on you, don’t be dismayed – try to reach out to another person in the company using a different approach.
4) “I’ve never heard of your company.”
Handle this common objection as a request for information about your business. Provide a quick summary of what you offer – and how your services can help them.
5) “I need to think about it.”
Whenever you encounter this objection, don’t make things awkward by trying to discourage the customer or rush up the sale. Instead, accept their response by saying “I understand” or “No problem” to make them comfortable.
Depending on the way they respond, you may have a chance to i) address underlying concerns; or ii) nudge them in the right direction. But you have to figure out the right approach.
So, that’s it! We’d love to hear from you, retailers. What other sales objections have you faced on the sales floor? Tell us in the comments section below!