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It is quite common to hear that companies provide their own products or services in-house or at least have someone in-house that manages certain services due to lack of proper staffing.
In order to overcome this common objection, companies need to be convinced it will be more cost effective and efficient for them to outsource.
Some companies are aware of the fact that they want or need the service, but budgeting is playing a major role in their decision not to seek professional help. Companies in this position rarely want to take the time to meet with anyone assuming the service is not affordable. To get your foot in the door and secure the meeting, you will likely need to provide a price range for service. Once they believe the service is within their budget they will actually be more than willing to speak further.
Objection: We use another provider. It is highly unlikely that during cold calling one will not encounter this objection. On one hand, you know the person you called is interested in the service because they sought out a provider. On the other hand, you are not the one providing the service. This is not an uncommon situation.
Many companies rest in the fact that they have someone fulfilling their needs, but never periodically determine if they are getting the best service at the best price. It becomes your job to show them how your company products or services will help them out shine their competitors, save them time & resources, increase their revenue and fit into their budgetary constraints, etc.
You need to convince them that your product or service will greatly enhance their business in some way. With that in mind, you need to also realize that you don’t have much time to do it. Once the potential client says “We are not interested, we already have an outside provider taking care of that”, you have a split second to jump in there and begin to convince them otherwise because the next logical step would be for them to hang up.
If possible, research the company ahead of time to know their needs. This way you can immediately let them know how your company is prepared to meet a need that you already know they have. If researching the potential client is not possible, be prepared to put your best foot forward. Let them know your strengths and how your products & services are more beneficial to them than the competitors.
Walk away knowing this. One key to gaining a new client is all in knowing your own company’s strengths and being ready to present them in a way that would make any potential client see the benefit. As I stated in last weeks article, “Helping potential clients see the added value of outsourcing services (to you) is all up to you.”
Objection: We need a product/service that can be customized to suit our specific needs?.
No matter what kind of product or service you are providing, most every company would want something that is specifically designed for their company. Since that is not ideal, they will want to see exactly how you can customize your product or service to meet their needs and objectives. When cold calling you can begin by informing them of general ways that your product/service has been customized to suit the needs of your current clients. Then you need to find out the needs of this potential client to pass on to the sales person. This will give the sales person an edge.
When the follow-up call is made the opportunity is there to tell them exactly how you can customize your product/service to help meet their specific goals and objectives. Now you become more of an extension to the company team rather than just another provider with a product or service for sale.
Helping your potential client see how working together to meet company goals and objectives is beneficial is a surefire way of closing the deal. Ask the right questions during the cold call, so you can do your homework and be prepared for the sales call. It’s all up to you. Be ready!
Objection: I’m too busy to meet or talk with anyone right now.
There never seems to be enough hours in a day for most people. Especially when you are trying to grab a few minutes with people at the upper levels of an organization. They have a lot of people that need their time for many things, so you need to convince them that spending time listening to you is worthwhile. You might find however, that they are too busy at the time you called to give you the time to convince them. This is when company promotional materials come in handy.
Be prepared with information that you can fax or email to a potential client to read at their convenience. Do not press them to listen at that particular moment. Let them know that you respect how busy they are and simply tell them you will send information for them to review at their convenience and let them know you will follow-up in a few days to speak further. Always give them the time frame for the follow-up.
This way when they receive the information they know you will be calling in a few days, so they will be more likely to review it. If you allow them to dictate the time frame of your callback, they are likely to blow you off.
Keep in mind that you need to send promotional materials that peak their interest and leave them wanting to know more. If the information is worth reading, it will be worth discussing.
Objection: It would be too costly to change the way we are doing things (or we don’t have the budget).
Cost is always a factor in life. Even companies that can afford certain products or services want to know they are getting a good deal. If possible, be ready to give some kind of price range for your services even if it is extremely broad.
The person doing the cold calling should ask questions and gather information from the potential client. Let them know information will be passed on to the Account Manager (or who ever is doing the follow-up call) and they will be able to give an exact price quote during the follow-up call.
Most everyone will understand that there are factors that go into determining the prices of products/services. Always know the minimum price you can give a client so when you quote it, you know you can do it. If after quoting this price range, they tell you it is not within their budget, this is probably not a client that would have been worthwhile to do business with and you can move on to the next potential customer.
Know what your products or services are worth and remember.... if you are reaching the right target, they will recognize the value of your product or service.
If need assistance in developing responses to common objections, we will certainly consult with you prior to starting your campaign - so that your campaign can exceed your expecations. |
