The “No” response doesn’t have to be a definitive “No thank you” as it can be a “but” or something similar but what we are addressing here is the objection and how this can open a whole new level in a potential sale.
So what are the positives of what initially seems so negative?
This is probably the best thing about an objection - finding out what the issue could be. Is it price? Could it be service or delivery? Is it a logistical problem or just a general concern? Once you are both aware of the potential problem it can be addressed instead of lingering in the background causing an issue further down the line in negotiations, or worse, post-sale.
After the issue has been found the next logical step is to explore the problem, investigate and put all of the information out on the table to discuss it freely and openly. Honesty is always a good thing. With honesty in mind it is worth remembering that there is no shame in saying “sorry I don’t know the answer to that right now but can we come back to that point later?” instead of agreeing to something you may find out at a later stage, was wrong.
Flex your subtle bragging muscles by addressing the issues whilst at the same time highlighting the areas where your product or service is strongest. The fact you are addressing the objection in the first place is a strength and shows your ability to work with the client in overcoming issues not only now but post-sale within the post-sale relationship.
Hopefully by this stage there should be a few options on the table for the client to discuss with you. After further investigation into the options you should be able to reach a mutual conclusion allaying the customer’s fears and allowing the negotiation process to continue.
The entire objection experience should give you a good gauge of the overall sales negotiation so far. If the body language or tone of the conversation has changed during the exchange this may allow you to be more bold and push on to close the sale - alternatively it could highlight the need to err on the side of caution, implement a softer approach or maybe the need to reschedule for a time when you can have a follow up meeting to present the solutions to potential issues after investigation.
In summary you can do a lot with a no, and it doesn’t have to be the end of the conversation - in fact the ensuing back and forth could tell you more about your customer and allow for not only a better sales negotiation but a stronger relationship post sale.
For those interested in more detailed information on handling objections and closing sales, this subject is a key component of the ISM Level 3 qualification in Sales & Marketing delivered by Professional Academy.
Feel free to contact our advisors about this qualification today or download a copy of the Professional Academy Sales Prospectus which includes breakdowns of all available ISM qualifications.