Getting To ‘Yes!’ How to Manage Objections in the Sales Process

Do any of these objections in the sales process sound familiar:

• You’re too expensive!
• We like what you have to say, but we don’t want to change accountants.
• We will do something with you, but now is not the right time.
• We need to think about this; we’ll come back to you.

They are some of the most commonly used objections when businesses are not entirely convinced they should switch from their current accounting firm to yours.

Objections are always a sign of interest in the sales process, and rarely, if ever, do they constitute a final, immovable “no.” Yet, that’s how we hear them. We are naturally averse to personal rejection, and a business not liking our proposal enough to change their accounting firm on the basis of it feels like a personal rejection.

Except it’s not. It’s a rejection of the proposition, not the person.

If the potential client really does not want to consider using your firm, there’s a big clue that will inform you of this. There will be no further meetings, and any that were already scheduled will be canceled.

If you have avoided a cancellation, some level of interest exists within your prospect. It may just not be enough to make them choose your firm.

Objections in the sales process, therefore, should be met with enthusiasm, as counter-intuitive as that may sound. They are a sign of interest and should be treated not as blockades preventing you from winning a new client but as challenges that, if you can overcome, will result in a deal.

So next time you are in that situation, remember the following two-step code to handle objections:

 

What kind of objection am I being given here?

There are four main families of objections in the sales process:

The Unconnected Objection

This is an objection that has nothing to do with the topic of conversation:

• Hear: Well, yes, your proposal has seemed to address the main areas of support required in our business, but I’m going on vacation next week.
• Think: Next week’s vacation has got little to do with today’s decision to appoint a new accounting firm.
• Best Practice: Proceed to close the deal as originally intended.
• Contingency: Set an appointment, then revisit this proposal upon their return as soon as possible.

The Misunderstanding Objection

This is where the prospective client demonstrates they may not have fully understood the proposal:

• Hear: Well, what you say is very interesting, but it seems like a lot more money for no extra benefit.
• Think: Have we submitted a proposal that’s significantly more expensive than they currently pay, or has the prospect not realized what they are getting for the fee?
• Best Practice: Calmly re-explain how your proposal meets the business’ needs and requirements above and beyond their current service and how all of that benefit is included in this modest monthly fee increase. They simply are investing in an accounting firm that can help their business get to where it wants to go.
• Contingency: Know your “walk-away” price, the fee you won’t go below but only negotiate as an absolute last resort.

The Polite Objection 

People rarely say no even when they mean it in professional situations. No will often sound something like this:

• Hear: Well, thank you for your time and effort. We’ll give this some thought and will be in touch when we’ve made a decision.
• Think: Uh-oh, it was going so well. Why can’t they make a decision now? Why can’t we come back to meet with them so they can make a decision? What did we fail to do that left them so underwhelmed with our offering?
• Best Practice: Honesty. What concerns have we not resolved yet?
• Contingency: Arrange another meeting when they’ve had some time to think. Beware, they are likely only to cool off as time drags on.

The True Objection

This is the only one to be concerned about — the one where there is a legitimate reason why they can’t go ahead.

• Hear: We love your proposal, but the company is not going to make it through the summer, or we literally cannot source the funding to pay your fee for this service/
• Think: These rarely happen, but I’m ready for it.
• Best Practice: Understand as much about this business as you can in your initial meetings to avoid being in this situation in the first place.
• Contingency: Collaboration. What would it take to overcome this barrier?

 

When should I deal with it?

There are three choices for when to handle an objection:

• Right now: for when something is important, and we can’t progress until it is resolved.
• Later on: if it doesn’t seem so important and might even go away by itself if we leave it alone
• In advance: where we know we will meet resistance, we can preface that in presenting our proposal document and manage the prospective client’s expectations accordingly.

All of these strategies are appropriate for in-the-moment situations. As the saying goes: If, after a few years, you hear a new objection, you haven’t been listening properly in the past.

These techniques can also be avoided by having better quality initial meetings with prospective clients and using “objection prevention” strategies, which is the next step in developing this skill set.

Martin Bissett, founder of The Upward Spiral Partnership Ltd, a U.K. firm-based consulting firm specializing in the implementation of professional selling skills in the accounting profession, developed this post for Inovautus Consulting in 2013, and the concepts still ring true today.