Selling a product is tougher than walking on a busy street blindfolded. Some people think sales is just sweet talk and smiles. But there is more to sales than what meets the eye. Sales is a methodical process that begins with creating awareness, educating, handling objections and finally, convincing the customer. The most crucial part here is Objection Handling in sales. Any good retail training should focus on objection handling in sales rationally and emotionally. This is because only when you are able to disprove the objections of the customer, you can succeed in convincing him. Retail Gurukul sheds the spotlight here on how to handle objections in sales.
The top objections in sales and how to handle them.
This is the most oft-repeated objection in sales. When a customer says “your product is expensive”, it may be because he is interested in buying but is not convinced of the product’s value for that price.
Solution- Retail Training recommends that you should start to focus on the product’s values and justify its price for them. Never focus on the product’s price, talk about its unique features instead.
This objection gives you lot of scope to work on. It actually means that the customer has a deep longing to buy but may not be able to do so presently.
Solution– Retail Training’s suggestion is to capitalize on that latent desire. Work on it by suggesting ways to the customer to somehow reach the status where he can buy the product. Give ideas like E.M.I, part payment or post-dated cheques or The Jewellery Saving Scheme offered by you o help him reach the objective.
Customers sometimes give hope saying “we will buy it soon”. This actually means that they are being good-natured but evasive. The “soon” in his statement may never come at all.
Solution– For handling such customers, what Retail Training proposes is for you to devise an action plan. Chalk out the action plan with their concurrence and try to get commitments that you can follow up.
Ex. Ask, when is the customer likely to make the decision and whether you, the Sales Champion can call her to remind her.
Ex. Ask, if there is any other person who has to be involved in the decision. If it is say her husband or daughter. Then, ask when is the person likely to come to the store or can they check and confirm with the person on the phone?
Some difficult customers may raise an objection saying “This product is cheaper elsewhere”. This objection has to be carefully handled.
Solution: Firstly, try to find out why the customer is saying this. Is it to bargain for better discounts or is he really under the impression that the product can be got at a lower rate. Retail training helps you with tips to handle both alternatives. If it is discount the customer is after, try to see if you can really offer some discount. Don’t keep lowering your price as your customer will start to haggle. Give him a flat percentage off as discount and that’s it. For the customer who thinks the product is cheaper elsewhere, try to explain why your product’s price is higher by highlighting its values and unique features.
Wrong allegations about your product
Sometimes tricky customers try to cast wrong allegations and issue false statements about your product. This situation is one where you have to remain calm.
Solution– Never get agitated over issues like this. Calmly tell the customer that his charges are not true. Try to find out where this misconception has risen from and disprove it. Clarify the areas where the information is false and rectify the issue. Retail Training advises you to handle this scenario with poise and confidence to succeed in convincing the customer.
Happy with your competitor
This is a challenging situation because the odds are against you. The customer has a good opinion about your competitor already. It is up to you to break that trust and turn it towards your product or company.
Solution: Retail Training motivates you to use this opportunity in your favor. First of all, praise your competitor for winning the customer’s trust and then talk about how valuable that trust is. Then move on by slowly introducing the negative aspects of your competitor’s product. Finally, make a comparison to highlight the advantages of your product over your competitors.
Objection Handling Plan
Retail Training suggests that you craft a smart objection handling plan with your personalized responses to all types of objections. List out the objections you might face and prepare the apt response for each. This forms your Objection Handling Plan. This will help you to be confident and handle any sort of objection better.