For any sales representative, the biggest challenge is to overcome the fear of rejection. Whether you are cold calling a prospective customer or pitching your idea, you might think they are on the verge of getting convinced, and then they say, “I’m not interested, thank you.” What should you do in such a situation? It’s natural to be disheartened, but if you are in Sales, it’s just part of the game.
The reason for several reasons for a rejection. But then why does someone else close the deal? It could be your colleague or competitor. What works for them? Sure you have to learn your business and be completely aware of what you are selling, but that’s not it. You have to learn how to keep the conversation going and keep your prospective customer engaged. No matter what they say, you must keep the person hooked. Here we have few quick tips that come handy in such a situation.
Scenario 1
The customer says they have used up their budget for products similar to yours.
Response
You can ask them what kind products they have invested in and be prepared with an answer to explain how your product performs better even in the same category. You can also ask them what kind of problems (there have to be some) they are facing, and you can get a chance to explain how that would never occur with your product.
In such a situation it’s better not to criticize your competitor and focus on your product’s virtues instead.
Scenario 2
The customer says your product is not fit for their purpose.
Response
Ask what made them think so. Maybe they didn’t understand your pitch or were preoccupied and decided to blow you off. In both cases, once you ask them such a question it will make process your pitch in their mind, so you already get a chance to make further conversation. If they didn’t understand your pitch, then you can re-explain your product and if they understood your product but still seemed disinterested, then ask for an opportunity to clarify your pitch and intrigue them.
Scenario 3
The customer says they will rethink about your offering and get back to you later.
Response
This is something no salesman wants to hear after a long, detailed pitch. Ask the customer if the problem they were facing still needs to be addressed. This will compel the person to reevaluate their situation and you would get a leverage to explain your product’s problem solving features in further detail.
Scenario 4
Your offered price is out of the customers’ budget.
Response
No matter how tricky this situation is, ask your customer how much the current problem is costing them. Once you get the response, all you need to do is show the customer how your product’s problem solving skills will save the extra cost they are currently bearing, or your product’s income generation capabilities justify its costs.
If the customer points out a comparative pricing your competitors are offering, show them how your product works better and gives greater value for money.