HOW TO HANDLE SALES OBJECTIONS | SELLING AND NEGOTIATION

A sales objection is any concern a prospect raises in reference to a barrier obstructing their ability to buy from you – an explicit indication that you have to address more aspects of the buying process than you initially anticipated.

Types of sales objection and frameworks on how to handle them are discussed in the presentation

1. HOW TO HANDLE SALES OBJECTIONS Team members: Pratheesh Raj .S Md Luqman Haider Lana I Ka Law Suhail Pusarapu Anusha Manikandan Noorayeen

2. 4 OBJECTIONS YOU MEET IN A DEAL

3. PROSPECTING OBJECTIONS: THE FIRST HURDLE

4. FRAMEWORK TO OVERCOME PROSPECTING OBJECTION

5. RED HERRING: THE DETOUR

6. FRAMEWORK TO HANDLE RED HERRING There is no point in chasing the red herring. 4 steps when you encounter a red herring- PAIS (Pause, Acknowledge, Ignore, Save For Later) Pause: push the pause button and collect your emotions Acknowledge: acknowledge and let the stakeholder know that you heard them. Save: save it and address later, more appropriate time. Ignore: ignore the red herring unless it comes up again, or save it or later.

7. MICRO-COMMITMENT OBJECTIONS: KEEPING THE MOMENTUM Micro-commitment objections arise when a salesperson seeks to move the sales process forward by requesting a small commitment from the prospect.  This could involve scheduling a follow-up meeting, attending a product demonstration, or providing additional information.   Common objections at this stage include:      "I don't have time for that right now."     "Can you just send me some information?"    "I'll need to talk to my team first."

8. FRAMEWORK TO HANDLE MICRO-COMMITMENT OBJECTIONS The 3 steps- Ledge, Explain Value, Ask. Ledge: Ledge is a statement or question that is memorised and used to buy time for brain to stop emotional response and respond thoughtfully. Explain value: Explain in short and crisp manner the value for the prospect. Answer WIIFM question. (What’s in it for me?) Ask: Ask confidently and assumptively for the next step.

9. BUYING COMMITMENT OBJECTION: THE MOMENT OF TRUTH Buying commitment objections are the final hurdle before closing the sale.  These objections surface when the prospect is hesitant to make a purchase decision.  They can encompass a wide range of concerns, including price and budget, timing, need and fit, risk aversion. The array of objections stakeholders come at you with, when faced with making a buying commitment, is wide. “Not ready to make long term commitment”, “We're going to need to talk this over as a team”, “What guarantee do we have that your company will perform like you promise?”

10. 5 STEP FRAMEWORK TO HANDLE BUYING COMMITMENT OBJECTION

11. CONCLUSION The presence of sales objections within the sales cycle should not be construed as negative occurrences, but rather as valuable indicators of a prospect's engagement with the salesperson's presentation. By actively listening to and precisely defining a prospect's objections, salespeople are empowered to develop solutions directly tailored to their specific needs and concerns. This structured approach fosters trust and strengthens the business relationship between the salesperson and the potential client, ultimately resulting in increased sales success. Consequently, the ability to effectively handle objections is a cornerstone competency for any salesperson seeking to excel in their field.