Sales Objection Tips for the Bad Economy

When we started the downhill trip to the bottom of the economic charts, I was already preparing for what business owners and clients were going to say to me. I can’t stand people who let the news tell them how their business is going to do this month. I’m sorry, but I’m in control of my business! If I want to make more sales, I work harder and find more clients. I will get more “No, thanks” but there are always people who need your product or service.

Now, overcoming the usual objection that they’ll wait until the economy gets back to normal is not easy. As any other objection, the “bad economy” objection has it’s weaknesses. After reading this article, you’ll be able to eliminate this objection forever. That’ll make you a sales veteran!

First the ground rules, as with any other objection, you need to get it out of the way in the OPENING call. What does this mean? You need to make sure you’ve answered their concern before you get to the closing of the sale. Don’t wait to tackle all their objections until the close, or the sale might be lost. It is your responsibility to qualify your prospects and take them through the process of objections.

- Remember – Just because they don’t want to buy now, doesn’t mean they won’t want to buy tomorrow or a month from now.

Weeding through the prospects that will use the ” we are going to wait until the economy gets better” objection is key. Here are some qualifying questions to help you find those.

During the initial qualifying call, you can say ” Alot of companies are taking advantage of this “product or service” now that the economy is slow. Do you think the time is right for you, too?”

“Given what’s happening in the economy right now, do you still see yourself (or your company) moving forward with this now?”

If they say they don’t know, then layer it with:

“When do you think would be a more appropriate time for you?”

Also, ask:

“How are you doing in this economy?”

Layer:

“Are you still going to be able to participate in this if we can get you the (price, rate, deal) we’re talking about here?”

Ask:

“__________, many of our clients find that this (your product or service) is still important regardless of what is happening in the economy – is it
something that you still have in your budget?”

The idea here is to make sure you mention the fact that the economy is in the toilet before they bring it up. It’ll create rapport because it’s on their minds constantly. Especially if you target business owners! They are having a tough time with purchasing decision since their future is so uncertain. Don’t let all this negative talk bring you down though, you’re in control.