What are hidden objections in sales?
Hidden objections represent a block to the sale which is either not stated or is wrapped up in something else that the client said and therefore easily ignored or missed by the salesperson.
What is the price objection?
A price objection is a statement by prospects that they need to know more before buying. In “The Science of Successful In-Home Selling” we say price objections are a sign of interest. However, an objection doesn’t usually come out sounding like a polite request for additional information.
How do you handle price objections in sales?
How to Overcome Pricing Objections
- Wait for the prospect to finish speaking.
- Pause for 3-5 seconds.
- Ask a question.
- Pose a follow-up question.
- Summarize their objection in 2-3 sentences.
- Clarify if you missed anything.
- Diffuse their concern.
What are the most common objections in sales?
The 10 Most Common Types of Sales Objections
- Lack of need. Buyers either don’t perceive the need to solve a problem or don’t perceive there is a problem.
- Lack of urgency.
- Lack of trust.
- Lack of budget.
- Product Objection.
- Lack of Authority.
- Source Objection.
- Contentedness Objection.
What are the types of sales objection?
The four most common customer objections for sales teams
- Price objection: “This isn’t the right price for us.”
- Quality of service objection: “I’m not sure your product has the features we need.”
- Trust objection: “I don’t know enough about you or your company.”
What are the most common sales objections?
Price is the most common type of sales objection. “What’s this thing going to cost me?” — Every prospect ever Prospects who have every intention of buying will still object to the price and say it’s too expensive, or hint that they’d like it for less.
When is a price objection a real objection?
According to sales expert Geoffrey James, “a price objection isn’t ‘real’ until the customer has brought it up twice.” Using this response the first time you hear “it’s too expensive” can help you separate the prospects who truly don’t have the budget from those who are merely kicking the tires.
Why do people say my product is too expensive?
When someone tells you your product is too expensive, it’s not always about the price. A classic sales mantra is that if a prospect gives you the price is too high objection, you simply haven’t communicated enough value. But oftentimes it’s about something else altogether—and they simply use pricing as an easy way out.
How do you overcome pricing objections in an interview?
How to Overcome Pricing Objections. Wait for the prospect to finish speaking. Pause for 3-5 seconds. Ask a question. Pose a follow-up question. Summarize their objection in 2-3 sentences. Clarify if you missed anything.