As with all sales inevitably you will get objections to the sale, these objections when handled correctly however can give the customer increased confidence and lead to you winning the deal.
There is a well-established way of handing objections, which consists of three key elements:
- Go with the flow – when someone raises an objection don’t be upset, roll with the punches. A initial response like “sure no problem” will often help take the sting out of the initial exchange.
- Normalise the objection – when someone raises an objection they feel uncomfortable and thus if not handled well it can lead to the customer becoming unhappy. Try to make them feel like the objection is one that is often raised and therefore not at all unusual for them to flag it. For example, if a client says “I am not comfortable with a 3 year contract as its too long”, the response would be “sure no problem, long term contracts are often a consideration for my customers”
- It’s about attitude – don’t tell what you cant do, tell them what you would like to before presenting the problems / barriers. For example, “I would love to be able a fixed price in the market for the next three years without the need for a contract, however the energy company will effectively commit to buy the energy for the next three years, that’s how we can prevent the prices from moving.”
There are of course some common objections that raise their heads, so here they are along with some example responses:
Objection – “I am in contract for another 8 months and can’t move to another supplier”
Response – “Sure no problem, most of the people I talk to are in contract, it’s a good thing as it means you wont be paying high out of contract rates. While I would love to be able to move your supply tomorrow, that of course isn’t possible however what we can do is agree a price today for a contract the starts the day after your current contract expires, we can also manage the whole switch process for you and move you to the new supplier. You won’t need to look at this again and you will have the budget certainty that prices wont rise further on the new contract.
Objection – “I am happy with my current broker”
Response – “Sure no problem, 80% of UK businesses buy through a broker, however not all customers who use a broker are getting a good deal. Let me ask you, do you know what a good rate on electricity is today? How do you know that the rate you are being shown is the best one out there? If you send me across the bills, I can have a look for you and if you are getting a great deal from your broker I will let you know.
Objection – “What if prices go down when I have a fixed contract?”
Response – “Sure no problem, that is a question I am asked frequently by my customers. I would of course love to be able to give you lower prices if the market drops, however the way the market works is that we agree the price today for the next 3 years. This is of course protects you should the market rise. If the market does fall we could look to extend you contract and agree a new price from the supplier that starts when your current contract expires. That effectively gives you the best of both worlds.
It’s a good idea to hold a team meeting to ask the team for the common objections and practise how you respond to them. If you need further help feel free to email me.