April 04, 2017

194: How to Successfully Manage Customer Objections

In today’s episode, Steli and Hiten discuss why they consider objections to be a gift. Listen as they explain the benefits of addressing objections, how to deal with the emotions you feel when dealing with criticism, and why it is essential to help and listen to your customers. They are also offering a sales bundle on Close.io that will help you manage your customer’s objections and many other aspects of your business as well.

Time Stamped Show Notes:

00:03 – Today’s episode is about how to manage customer and user objections

00:28 – This is not just about sales, this is about how to deal with customer’s objections with using your product and/or buying it

00:55 – Steli discusses the different kinds of user resistance

01:04 – Steli says you may be experiencing resistance because you may be building something unuseful

02:18 – Companies do not know how to categorize objections; nor do they know what to do with them

02:43 – Steli enumerates common objections such as “this is too expensive” or “I don’t have time”

03:10 – HOW you manage objections makes all the difference

03:21 – Steli discusses the “too expensive” objection

04:01 – Hiten says objections are a gift, objections help you figure out what’s actually wrong with your product and how you can improve

04:18 – Often it takes a lot of effort just to hear an objection, but it’s still good to hear them

05:10 – When it comes to a sale, there is a tangible endpoint—other types of objections can be grounds for improvement

05:49 – There is an emotional reaction when it comes to hearing objections

06:11 – There are objections that you hear again and again that can cause annoyance or discouragement

07:34 – There are two sides to objections being a gift; the business side and the personal gift side

08:12 – If you don’t listen to any objections, there is no reason for your existence

08:40 – You are there to HELP customers overcome the block that can decisively help them purchase the product or use it well

09:13 – It is your chance to give value to the world through your product by listening to objections

09:38 – You have to learn to get past your emotions and to respond to the objection immediately

10:24 – You solve objections not just for the one person who presented the problem to you, but also for your future customers or investors

11:17 – You want to understand what your customer is really saying

11:37 – In sales, there is a difference between excuses and actual, real objections

12:33 – Sometimes you solve it on a business level, sometimes it’s on a personal level

13:11 – Write down the top 10 objections and give possible answers

14:30 – Manage objections better by going to Close.io and getting their sales bundle

15:03 – End of today’s episode

3 Key Points:

Consider objections as a gift—improving upon feedback will benefit you as it addresses the needs of your customers and future investors.

You do not have to respond to an objection immediately; listen first and figure it out later.

Learn to get past your initial emotions so that you can get used to addressing those objections.

Steli: Hey everybody, this is .

Hiten Shah: And this is Hiten Shah, and today on "The Startup" chat, we're going to talk about how to manage customer - and I'll add user - objections. So Steli, this is not just about sales. This is just about, in general, how to deal with customers when they have objections about using your product, buying it, et cetera, correct?

Steli: Correct, absolutely. There's a fine line ... Let's start with saying that if you get out there in the market, you try to convince other humans to use your product or buy your product. There is going to be resistance, right? And there's differences of resistance.

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By Steli Efti & Hiten Shah: Serial Entrepreneurs, Sales & Marketing Experts, Startup Investors & Advisors, CEOs running multi million dollar SaaS Startups

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