The scariest part of a sales cycle for any Sales Representative is inevitably "cold calling.” The idea of contacting a random person and attempting to sell a product to them without a prior relationship is not only difficult to do, but it is outright challenging. Some believe that in order to master necessary techniques for effective cold calling, one must first become adept at understanding the science behind the success. However, many Sales Professionals are unaware that this should be labeled as an art form, rather than a science.
Some may be wondering why the classification of art versus science. Simply, there is no formula that will enable the cold caller to overcome potential objections from the prospective client. Professional Cold Callers must understand and master the art behind cold calling. They must be able to navigate their way through a minefield of potential objections and rejections.
Perhaps the most important aspect of this art, is learning to handle rejection and turn every “no” into a “yes.” Customers will inevitably object, with some of the following statements: "I’m not interested,” "Now is not a good time,” "We are satisfied with our current vendor,” and "I’m not a decision maker.” Learn how to turn common objections into a positive scenario with the following steps:
Understand why your prospective customer is uninterested in your company’s product.
Simple statements like "now is not a good time,” may be daunting to hear. However, an effective Salesperson will never lose hope; those “no’s” may soon turn into a “yes.” Instead of accepting those words as failure, Salespeople should accept them as an opportunity to schedule time for another phone call in the future. This strategy enables Salespeople to overcome their objections & rejections to move forward in a positive way. Persistence with prospective customers is key.
Understand why the prospective customer is satisfied with their current products and/or solutions, and explain why your solution is even better. Demonstrate the value that your company offers and explain why they will not find that value elsewhere. Current satisfaction is not equatable to permanent satisfaction. So, regardless of a prospect’s current happiness, they may be open to switching solutions either now or in the future.
If a prospective customer is not regarded as a decision maker within their company, do not give up. The cold call can still be a productive use of time and effort. No matter what the title is of the person that is being contacted, there will always be a chance that the person could provide valuable information about their company that could help a Sales Professional either find out who the decision maker is at the prospective company or provide valuable information on what solutions the company currently uses. The information that could be ascertained from a successful, information-gathering phone call could be essential in developing a new opportunity with any potential prospective customer.
Following these steps will enable a cold caller to handle any objection that might get thrown their way while cold calling. It is important to be prepared for any potential negative outcome when mastering cold calling.
Sales Professionals should never accept “no” as defeat. Instead, they should turn the potentially negative situation into an opportunity to gather information & eventually sell their solution. Treating a prospective customer like a human being by listening to their professional needs, will ultimately yield more success. When the cold caller allows the prospective customer to speak, they will inevitably talk about their company and may even allude to present challenges that the cold caller could solve. This process will not only prove their value to the perspective customer, but will also successfully turn any "no" into a productive conversation.
However, it is important to remember that when a prospective customer repeatedly objects, the Sales Professional may have to move on. This does not mean to give up on selling to this company, though. Instead it means that this company or person needs space to think over the solutions that the Sales Professional has presented. The success with a particular company or person may not be yielded immediately, but eventually that may change. A Sales Professional will never know if a challenge that this company is not facing today, may be a challenge of tomorrow. Therefore, never give up selling to anyone, but do understand that sometimes timing is the missing ingredient to a recipe for success.
In time not only will Sales Professionals be able to turn any "no" into a “yes," but they will also be able to develop long-term relationships with prospective customers simply by listening throughout the course of a conversation. Willingness to learn the reasoning behind a “no,” and understanding that both listening and learning from every phone call will enable future opportunities for success.