Not every sale call ends without any complication. Salespeople often face objections at the end of their pitch along the lines of “This is too much for me” or “I can’t afford this.”
This financial objection does not necessarily mean the potential client will not invest in the product.
Here are a couple of simple steps that can provide you with the ability to properly address any kind of sales objections related to finances and exactly what to say to efficiently handle the objection.
When first with a financial situation, one of the first things that a salesperson needs to do is to take back control of the conversation by diffusing the situation right away.
Once the pressure has been eliminated, you should inquire further with the potential client to clarify the financial objection.
This involves understanding the reason behind the objection in greater detail to understand the prospect’s current situation and whether the objection is based on uncertainty about investing in the product or if logistical difficulty prevents them from buying the product or service.
Once you have understood the situation, isolating the lead’s intentions through reconfirming their willingness to invest is essential because it encourages definitive answers from the client.
The reason to do this is to maximize the chances of them bringing up an uncertainty-based objection, so they can be cleared before moving on to the financial objection.
This is because a salesperson cannot deal with a financial objection and take it forward unless the client is certain they want to invest in the product.
This is why the double tie down is necessary, to confirm that the lead is all in on the prospect of buying this product and the problem is on the logistical side of things rather than because of uncertainty.
Once the intentions and where the client stands regarding the product have been cleared up, you can now move on to provide them with alternatives they can avail that might suit their current financial situation.
The way to do this is to pitch them the idea that different plans break the sale into different parts and then ask them permission if they would like to have a financially transparent conversation to devise a plan most suited for them.
Once the client has given their permission to have a conversation which puts everything on the table, the information gathering phase is normally done through a series of questions.
When having this conversation, the pacing is essential, starting with the easy questions and building on them to progress toward the more pressing financial questions.
Once the salesperson has gained enough questions and a deal has been established, all that is left is to ask questions to further reinforce that trust to close the deal and drive the consumer from objecting to buying the product to securing a sale.