B2B sales reps have a single universal goal: to sell a product or service. Depending on your method of contact and what you are selling, you can expect anywhere from 1% to 30% conversion rate. There are ways to overcome sales objections and achieve a higher conversion rate.
One of the most common reasons for B2B sales objections is cost. If a prospect views your company's product or service as being too expensive he or she probably won't buy it. To overcome budget-based sales objections, explain the value and financial benefits of your product or service by tying it to the financial benefits the customer will receive as a result. For instance, if the product costs the prospect $5,000 explain how it increases revenue and/or saves money. Be sure you’re talking to the decision maker as they hold the budget. If you’re not sure who they are, use our Target Account Intelligence service to help.
Another tactic to overcome sales objections is to one-up your competitors. If a prospect rejects your offer, perhaps he or she is already using a similar product or service by another company. Therefore, you should try to differentiate your product or service by making it better than your competitors'. At SalesLeads, we have to do the same thing. We differentiate ourselves by supplying identifiable projects with key contacts, direct dials and emails.
You want companies to immediately associate your company's brand as an industry leader. Present your company as an authority through content marketing. This involves publishing and sharing content that's designed specifically for your target audience. The more educational the content is, the more valuable it becomes. Prospects will view your company as an authority, which can help you overcome sales objections.
Easier said than done when it comes to the industrial and office industry. There are areas where your potential client can get the end result experience. A few clients shared how they offer a ‘free trial’ that helps turn prospects into a sale: test patch, simple prototype and demo days. What can you try? One of these or make one up of your own.