Published 10th January 2024, The Art of Business Development/Sales Navigation, your path to profitability

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No matter how stellar your product or service may be, objections from potential clients are inevitable. But fear not, fellow sales warriors, for The Takeover Strategy, are here to equip you with the strategies needed to turn those objections into opportunities, you lucky lucky people. Have you ever heard the term "It's Too Expensive" I bet you have, did you know it's usually printed on Purchasing manager's and Procurement Managers Birth Certificate, they love this term, and most of the time it isn't even true. So, how do we get around them pulling are strings? When a prospect throws the cost card on the table, it's essential to reframe the conversation. Instead of focusing solely on the price tag, emphasize the value your product or service brings. Highlight the long-term benefits and return on investment, showcasing how your offering is an investment rather than an expense. Value is key here, when are you quoting a product or service, quote like for like, but always have a value take out the opportunity for them, so when they say the words "It's too expensive" you can then turn around and say, I thought you might say that, this is why I have a value product or service for you, by us making this minimal change we can save you ex-amount which then brings us in line, when can I get this is into you?

Another one you will hear regularly is "We're Happy with Our Current Provider" (As I roll my eyes) This is a tricky one, if you are mindful enough in yourself, you will see it works both ways, you would want your clients saying this to potential competitors trying to win your accounts. However, regardless of that, we will look at it from a standpoint where we are just trying to win new business, as it doesn't matter I am going to tell you how to potentially get around that, listen up. This objection is a tough nut to crack, but not impossible. First, express gratitude for their loyalty, play on their ego, and acknowledge the value of a strong business relationship. Then, subtly introduce the unique features or improvements your product offers, emphasizing how it can complement and enhance their current setup. By positioning your offering as a valuable addition rather than a replacement, you might just tip the scales in your favor. Again, this is a value sell, you should have asked before this who their current supplier is, and if you are following our work you would know that once you find out who the supplier is, you research them, you look at all the positives you have against their negatives, you then supply the prospect with these, highlighting that you aren't trying to make the competitor look bad, you are merely stating that looking at your business could be benefital.
One I love to go up against is "I Need to Think About It" This by far is the classic stalling tactic that can leave sales reps hanging. The key here is to gently probe for the specific concerns or questions the prospect needs to ponder. Address those uncertainties directly, providing additional information or testimonials that alleviate their doubts. Additionally, create a sense of urgency by offering limited-time promotions or exclusive deals to encourage a timely decision. You need to use your personality here and empathy and open-ended questions are key. What is it that is holding you back from making a decision? How can I help make your decision easier? What would help? What are your concerns? Now, open-ended questions don't always work, but they can slightly open the door for this question which usually always works "Truthfully, thinking about it, yes you are right you should think about it, if I was in your shoes, I would do the same. Whilst you do that, it would be so helpful for me to at least get the negative feedback, which ok isn't ideal, but I need to know (heart strings) as you know what bosses are like, I'll be asked, if they have any kind of empathy, they will open up from there and tell you. If they don't based on that question, you are dealing with an emotionless person and they will be very difficult to get anything out of. But, it's highly unlikely you will meet anyone like this, everyone with some form of empathy. Even if it is very small, there is a small amount of manipulation here, based from a personal perspective, I would always steer away from Manipulation, it's unhealthy, but in my eyes too much is read into manipulation, and from a work perspective and a business point of view, if you are as ruthless as me, anything goes, it's a doggy dog if you don't win that business, someone else will, and in my eyes that just isn't happening. This will set you apart from others, this separates the strong from the weak. Purchasing Managers and Procurement Managers whoever you are dealing with, will want strength, after all, when they become clients, who is going to fight their corner when there are price hikes, or they aren't getting products on time, YOU! Don't be scared to be strong in appointments, some will dislike you, some will love you but they will all respect you. This has always worked for me, and from there once you find out the negatives, then start your open questioning again.

This is another one I hear from time to time "I'll have to Consult with My Team" Now, in your first meeting when you produce your fact-finding questions, one of those questions should be "Who makes the final decision?" They will either say me, or their boss, at that point you ask to meet the boss, to put a face to the voice, and an introduction is made, on the second appointment you make sure they are in the meeting. If it is a team of people, you ask to meet all of them and they all come into the last meeting. Use this as an opportunity to position yourself as a valuable resource. Offer to provide a tailored presentation or documentation that the prospect can easily share with their team. By proactively addressing potential concerns and showcasing your expertise, you increase the likelihood of gaining the team's collective approval. "I've Had a Bad Experience Before" Personally if I hear this I usually am quite direct I am direct anyway, but in a professional manner. I have been known to say "We have all had relationships throughout our lives, we have all been hurt, we have all had bad experiences, we heal and recover. Are you married? Girlfriend or Boyfriend? Yes, ok you love them right? Yes, I take it you had other relationships before them? Yes, ok, I know I had many "make them laugh" Some were good experiences, some were bad I'm sure, once I get to know you I will tell you some of my horror stories, I used to have long hair once, so I have had probably too many relationships. " What I am getting at here, is that we all have experiences, some good and some bad, you recovered from the past and found your current partner, it's the same in business, we have good experiences and bad experiences, but we never give up hope, we move forward, not everyone is the same and not every business is the same, so we always have to remain open. This is expressing genuine empathy for their previous challenges. Then, steer the conversation toward the positive experiences your current clients have had. Share success stories and highlight any improvements or innovations your product has undergone since the prospect's unfortunate experience. The last one then "We're Not Ready to Commit Right Now" What this shouts to me is that timing is everything, and sometimes the prospect simply isn't ready to make a decision. However, I use this to turn certain parts of the deal around. What they are saying is they are not ready to place orders. So, what you need to be thinking is what can I get done now, which will make it quicker down the line, for example, account forms, anything that needs to be signed off. This will usually give you an indication if they are brushing you off or not. So don't push too hard, acknowledge their timeline, and propose a follow-up plan. Stay engaged by providing valuable resources, such as industry insights or relevant content, to nurture the relationship. When the prospect is ready to move forward, you'll be top of mind.

I hope you found this beneficial, Wishing you Love and Light

Svaha (So be it) x 

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