Handling Sales Objections: “I Want to Shop Around”

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Sale (Photo credit: Gerard Stolk (vers le 30e avril ))

Have you ever heard this objection from a potential client: “Okay. Well, thanks for the information. I want to shop around and will get back to you.” Unless you’ve only been in sales a day or two, you have.

In most cases what are they really saying to you? They’re saying, “I want to know if I can get it cheaper or better somewhere else.” It’s usually a money issue when you hear those words. Occasionally, the client will not be certain the product meets their needs and is looking for other options, benefits or services along similar lines to what you have offered.

Having clients with a desire to shop for a sales bargain is a given in any business. Knowing how handle objections like these and get them to stop shopping and make the decision to own is a skill. You must understand that it’s pretty normal that we all want the newest, best, shiniest, fastest, and brightest when it comes to making product purchases. But, no one wants to pay too much for it. Before you can use the words that I’ll give you in just a moment to address this situation, you have to know what you’re up against.

As a Sales Rep, whether you sell insurance, real estate or a commodity how much do you know about the products being offered by your competition? Do you know what your clients are comparing you with? If not, invest some valuable time in research. Investing a day or two visiting the competition with the eyes of a shopper just might amaze you. You may readily see a weakness in their product or service that you will then use as a strong selling point in your presentations. You also may find a weakness in yours. Either way, you’ve learned information critical to the success of your sales.

After doing your research, you may learn that the competition truly does offer a compatible product or service at a lower investment. Or, it may be a slightly inferior product. Or, they may not offer the excellent service that you do. There’s bound to be something you find that’s not as good as what you offer. If you don’t find one of those three things as being different from your offering, you may need to rethink what you offer to improve in at least one of those three areas.

Then, the next time you hear a client voice the objection, “I can get it cheaper somewhere else,” use these words: “That may well be true, Mary. And, after all, in today’s economy we all want the most for our money.” You see, by agreeing with them, they’ll sense that you have their interests at heart and will listen to what you say next, which is: “A truth that I have learned over the years is that the cheapest price is not always what we really want. Most people look for three things when making an investment: the finest quality, the best service, and the lowest price. I have never yet found a company that could provide the finest quality and the best service for the lowest price. I’m curious, Mary, for your long-term happiness with (name your product), which of the three would you be most willing to give up? Quality? Service? Or, low price?”

You’ll find that few clients want to give up on quality. Not many like the idea of inferior service. So, that leaves the money. What you’ve just done is help them rationalize and justify the amount of money that was the issue just a moment ago. Most people, when they come to this conclusion, quickly realize the benefit of having the buying decision made. They can move on to something else in their lives, not investing any more time in researching the product or service and being happy to have come to this point.

Objections can be expected in almost all sales. Handling these objections as they come up is the mark of the professional.

By Tom Hopkins for Producers eSource 

Tom Hopkins is world-renowned as “The Builder of Sales Champions.” His
       career-enhancing tactics and strategies have been proven effective in all types of markets for more than 30 years.

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