Having a wide log of prospective leads does not guarantee a sale.
You need to reach out to a large number of leads to get hold of a prospective client. Converting a lead requires engaging conversations and the ability to pitch a sales proposal.
Extensive leads generation allows the sales and business development departments to reach out to more prospects who may or may not be interested in the service or product. But what do we do to reduce the percentage of unproductive sales calls?
Classify the Leads to know them better-
The sales development team should know to identify the category of a prospect before pitching a sales proposal. Now, a prospective client can be classified under these three categories:
- The one with zero objections –
These clients are mythical creatures in a sales circuit. It is very rare for a sales team to come across a client who has no objection regarding the proposal.
- The one with many reservations –
Now just because a client has queries and doubts does not mean they are impossible to pitch. These clients will consider and reconsider about your products or services. Being positive during the conversation would give the prospect a gentle nudge that helps in gaining trust.
- The one that avoids sales conversation –
Interacting with this group of leads is tricky. It is because they are hard to get them on board for a sales pitch. If one can break the shell and pitch a good proposal, the prospect can get on board for the long term.
A sales representative needs to identify the leads into its respective category and pitch the target accordingly. Doing so saves time as you do not waste time chasing ineffective leads.
Good leads result in the increment of sales, but no matter what as a sales representative, you will still encounter objections — listing down five common sales objections and how to overcome it.
1. A lead using a competitor’s product or service
Your business is not the only one in the market, providing a particular product or service. Most of the new leads that the sales team approach are already in terms with a competitor. An official contract may bind them, or the prospect is in talks with the competitor. In either case, it becomes a hurdle to convince them.
Now, in either of the conditions, start by asking how satisfied the lead is. Follow up with a couple of queries that are general and engage them in an open discussion. Understand their pain-points and pitch a proposal that will win your company’s favor.
2. A lead who claims that they are not ready
If your lead says, they are not ready. What it means is that they are not sure about investing or are not sure about your product or service. In both cases, making effective communication is key. Yes, pitching to such leads is tough but not impossible.
The sales team needs to handle it very carefully by giving gentle reminders. Respecting, the client’s timeline is essential. Send in some samples or a case study which makes them take an interest in the services or the product your company provides.
3. A lead who disagrees on the budget
Budget issues are hard to avoid. The go-to solution that most budget-related pitches are to give a discount on the existing value. However, a discount may not always be possible. Just for the sake of making a sale if you offer a discount, it will alarm the lead, creating a void of trust.
Instead, explain the unique quality of the product or the service. Be clear about why it is offered at that price. The pricing structure is an integral part of the conversation, as almost every lead is going to negotiate. And you should be well prepared to convince them about the kind of value your product or service will add in their lives.
4. A lead who wants to think it over
Nothing can be worse than a pitch where the lead listens to every single detail. You answer every query only to get a “let us discuss and get back to it” in the end. If the lead is unsure about making a move, the sales team must point out why and how their service is unique.
You can give them a 90-day free trial of your product or a one-hour free consultancy session. Or you can offer them your service free for a week. The objective is to convey to them the kind of value they could get. Pitching how and what kinds of benefit a product can bring to the brand is a sure-shot way of getting the leads interested.
5. A lead who is not a decision-maker
If the prospect is not the decision-maker, what is the point of contacting them?
Well, that is a great question!
At times, there can be instances where you do not have the details of a precise authority figure. In those cases, deal with the concerned person, tactfully and derive the information as to who takes the decision.
Facing objections while pitching a sales proposal is a widespread occurrence. The objective is to face them tactfully and giving your best to turn them into a customer. Rather than arguing, engage them and focus on building a better relationship with them.