Play #053 Overcoming Objections in Cold Calling
Navigate Your Cold Call Conversations
Each week, I bring you battle tests, sales plays, and learning lessons from my experience as a Founder, VP of Sales, and my current role as the Managing Partner at Leadium, where we help world-class B2B sales teams drive revenue through our done-for-your top-of-funnel services.
Customers often raise concerns during cold calls that prevent them from purchasing a product or signing up for a service. I've heard every objection over the years, from worries about the price of an item to the classic line, "I need to discuss this before I do commit to anything today." Successful sales reps can easily overcome these protests and close deals in almost all situations. Here are some common cold-calling objections and how to deal with them.
"I Can't Afford It Right Now"
This is probably the objection sales reps hear the most over the phone. Sure, there are times when someone can't afford a product. But, in my experience, most people can't see the bigger picture regarding price. And that's where a good sales rep comes in.
Say a prospect is interested in a product but claims they can't afford it. It's up to the rep to convince them of the product's value and how it can improve their life. The rep should identify the prospect's pain point and provide a solution. So, an excellent answer to this objection would be, "While this product costs a lot, it will save you money in the long run."
"I Need to Talk This Over With My Partner/Friend/Boss/Team"
Another common objection from prospects is that they must discuss a purchase with someone else before committing to the phone. The thing is that someone else might convince the prospect that they don't need your item, resulting in a lost sale.
There are a couple of ways reps can deal with this statement. They might want to offer a one-time deal, perhaps a 10% discount, if the prospect makes a purchase there and then. Or they can acknowledge that the prospect needs to discuss matters with a third party and set up a follow-up call for the next day. That gives the person a time frame for deciding rather than ending the conversation on an ambiguous note.
"Your Product Doesn't Benefit Me in Any Way"
This objection clarifies that a prospect isn't interested in a product. But instead of ending the call here, reps should suggest other items that might be more relevant to the individual. With the correct information, successful sellers can quickly pivot a cold call and recommend a product or service based on the prospect's interests, demographics, or previous purchasing history. It could be that someone is willing to make a purchase but they don't want to buy the original offering.
Customers will also have objections during cold calls. However, experienced salespeople can turn those calls around and convince prospects to think differently about your products and services. That can drive revenue and help you grow your business.
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