Do You Get Stonewalled by Objections?

You know you’ve heard this line: “we don’t have a budget for a sign now.”

How do you deal with this (and similar) objections?

The way to do it is to understand that objections are not always bad – they can actually be opportunities.

The problem comes in when objections are taken at their face value – without any attempt to understand and diffuse them. When you question a prospect’s objection, you will often find out the real issue. Then you can either tailor your updated presentation accordingly, or move on to the next prospect.

For example, consider this sales interview dialogue:

Prospect: “We don’t have the budget for a signage upgrade now.”

Salesperson: “When you say you don’t have the budget now, do you mean you don’t have a marketing budget at all at this time, or just not a budget for signage?”

Prospect: “Well, we are committed to this radio advertising until the end of February.”

Salesperson: “And at the end of February, will the funds you are currently spending on radio be available for other types of marketing?”

Prospect: “Possibly.”

Then you’re in the driver’s seat, and you know there is a “budget window” coming up that could help you to pocket that signage sale. You also know this prospect is at least somewhat receptive to your ideas, given that he did not completely shut the door when you asked a follow up question.

Compare that exchange with this all too common scenario:

Prospect: “We don’t have the budget for a signage upgrade now.”

Salesperson: “OK. Thanks anyway. Here is my card – please let me know if you need anything in the future.”

Then the door is closed – simply because you didn’t question the surface objection.

Here are the most common objection categories:

1. Lack of perceived value in the product or service
2. Lack of perceived urgency in purchasing the offering
3. Perception of inferiority to a competitor or in-house offering
4. Internal political issue between parties/departments
5. Lack of funds to purchase the product/service
6. Personal issue with the decision makers
7. Initiative with an externally party
8. Perception that “it is safer to do nothing”

The point: always dig deeper when you are faced with an objection, so you can find out the true objection. Then you’ll know if this signage prospect merits further attention, or if you should invest your time elsewhere.