Does it seem like prospects are just waiting to shut you down with the most likely objection?
When it comes to cold calls, decision-makers have learned the art of effectively disarm any sales representative. For B2B tech companies, rebutting objections can be especially challenging as barriers such as software integration issues, budget limitations, and long ramp-up cycles can be very valid concerns.
So when it comes to developing an effective outbound B2B lead generation strategy, the real struggle is learning how to handle objections with empathy while still being able to show how the value of your products or services far outweighs the perceived costs.
To help you set more appointments and close more deals, we’ve come up with the most common objections in B2B tech sales and how you can turn opposition into a sales proposition.
1. The Budget: Hands down, budget is the most common objection, and for good reason. It’s really hard to rebuttal “We just don’t have the money to invest.” While it’s important to consider that budget could be a genuine hurdle, it’s often a scapegoat for another underlining issue.
By anticipating this kind of response, you can build up curiosity for your offer and better persuade prospects to say “yes” to your sales pitch.
Instead of politely bowing out after your prospect cites budget restrictions, say something like this:
“I get it. The cost of {product/service} is a pretty big initial investment. Many of my current clients were also concerned about price in the beginning. But within six months the majority of the companies we work with have exceeded their return on investment by 50% and no longer have to deal with {pain point}.”
This formulated response alleviates your prospect’s fear of loss by acknowledging valid concerns, verifying that others have shared similar concerns and that those concerns were quickly resolved with desirable results.
2. Using a Competitor: Ouch! This one stings the most. For sales representatives, hearing the prospect is already using a competitor can be frustrating when you know you have a superior offer. But don’t dismay. Use this opportunity as a moment to shine. Ask why they went with that particular brand and then go so far as to compliment their decision. (No one wants to feel like they made a bad choice.)
Then, you might say something like:
“While {competitor} excels at {feature/benefit that the prospect mentioned}, we find many of our clients struggle with {the main problem your competitive advantage solves}. Have you had a similar experience?”
By using a rebuttal like this, you show integrity while still offering value that your prospect is not receiving with their current solution. As a result, you’ll have a better chance of landing an appointment even if the prospective client is happy with your competitor.
You should never disregard or belittle the competition. But if you can prove that you provide a higher level of value, then you owe it to your prospects to show them what they are missing.
3. The Whole Team Isn’t On Board Yet: You’ll generally have six to eight decision-makers to convince in any given B2B account. Not having everyone “on board” is a popular objection for prospects who are weighing their options.
Standing out is imperative at this point. What can you offer to shift the odds in your favor? Do you have clients who are willing to be used references? Can you provide an in-depth ROI analysis? What about a competitive comparison?
Make the decision process easy for everyone on the committee. Anticipate each person’s perspective, and deliver the data that solidifies your solution as the one that makes the most sense.
Takeaways
Whether your handling the sales cycle in-house or have the help of a B2B lead generation agency, it’s important to be prepared to handle objections so you can build concrete rebuttals into your marketing assets, website, and even your company culture.
If every employee from the CMO to customer service can explain why your tech company is the leader in your industry, then creating a steady and reliable client base will soon follow.
