If you ask any salesperson, "No" is one of the shortest and scariest words in the English language. This one word has the power to crush a lot of company goals, but it can also open up new prospects.
Reframing rejection and considering how you might profit from this apparent worst-case scenario are the right things to do. It's critical to realize that neither the globe nor your interaction with the prospect will end. In sales, you must find a way to make every no into a yes.
To put it another way, salespeople should view every "no" as a challenge and look for a method to capitalize on it to convert it into a "yes."
Many salespeople follow a predetermined plan of action to respond to customers in various circumstances. To keep salespeople motivated, these experts also develop techniques to assist them in dealing with rejection. You can enhance your tactics and perform better if you know how to handle rejection in sales. In this post, we go over the value of handling rejection, describe how to deal with it in sales, and discuss several suggestions to help you increase your success rate.
Why is handling rejection in sales important?
Rejection is crucial in business since it can show you where your selling tactics need refinement. You can discover more about your target market or clients by handling rejection. To find out what the consumer needs or why they aren't currently interested in the products, many associates use inquiries in their selling technique. Thanks to this feedback, your firm may have improvement opportunities due to the trends you can spot in its products or services. Other justifications for the significance of mastering these kinds of conversations include:
- Increasingly successful sales
- Identifying opportunities for improvement
- retaining prospective clients
- acquiring new client accounts
- How to respond to the refusal in sales
When dealing with clients, salespeople usually employ several techniques to handle rejection. To better understand how to handle these kinds of debates, take a look at the following steps:
1. Avoid personalizing the rejection
You can approach the topic from a professional rather than a personal standpoint by learning how to stop being negatively affected by rejection. You may control this talk by thinking back on your prior, prosperous transactions. Before agreeing to a deal, certain consumer leads could also need extra time to consider their options or budget.
2. Examine your sales plan
You may make better use of your strengths by evaluating your strategy. You can boost your sales performance by altering your strategy or developing specific elements of your process. You can also discover areas for improvement in your selling strategy and script by seeking input from clients, team members, and your manager. Several typical tactics include:
- The creation of a social media account
- demonstrations of goods or services
- delivering customized outcomes
- Customizing goods or services
- expanding relationships with current customers
- establishing a sense of urgency
3. Change your frame of thought
You may see every sales call, email, or discussion as a chance for improvement by adopting a growth attitude. You'll be able to examine your performance objectively and spot trends as a result. You may immediately relax and shift your mindset by breathing deeply, meditating, or listening to soothing music. After that, you can begin probing yourself for information to aid in honing your abilities. You might think about posing the following inquiries:
- How did I apply my expertise throughout the sales call?
- Which form of dialogue with consumers do I feel most at ease using?
- What kind of communication does the client prefer?
- How can I sharpen my planning abilities so that I can customize my sales approach for each client?
4. Pay attention to the upcoming change
You can overcome rejection by realizing that there are several possibilities to market the goods or services of your business to consumers. Your motivation will rise, and your stress levels will decrease if you concentrate on the next phone call, email, or sale. To rapidly spot the next sales opportunity, which can help you shift your perspective and capture the interest of the following potential customer, you might want to make a list of your daily responsibilities.
5. Test your knowledge and reaction time
Increasing your listening ability will help you learn more about your future clients. You may successfully communicate information and enhance client interest by practicing your responses. You can improve your listening and speaking abilities in a variety of ways, for example:
- Participating in workplace training sessions
- Looking for a sales mentor
- Taking public speaking classes
- Looking back at your prior sales calls
6. Examine other salespeople.
You can develop your abilities by examining the methods and tactics used by other salespeople. This can assist you in coming up with fresh approaches for customer phone calls or inventive email subject lines. You can also find effective selling strategies by investigating the techniques used by other successful experts outside your firm.
7. Honor your accomplishments.
You may maintain a happy attitude by finding ways to recognize and appreciate your accomplishments as well as those of your team members. This may also enable you to see how your abilities have improved as a salesperson. Ringing a bell or noting successful transactions in your employee newsletter are two ways your company may mark the occasion. Reassurance in the positive can help you feel more motivated, so you can keep giving your customers the best service possible.
11 Tips on dealing with anticipated NO
As a sales professional, consider the following advice to assist you in handling a range of customer encounters effectively:
1. Predict NO
Recognizing that rejection frequently occurs in sales will help you accept it and use it as a learning opportunity. This can also assist you in developing persuasive responses to keep the interest of potential clients.
2. Keep it professional
You can maintain a positive attitude toward clients in the face of rejection by being composed and grateful. This can improve the standing of your business and raise the possibility that the customer will do business with you again.
3. Work together as a team
Discussing your rejections as a team can find potential for sales strategy development. You can enhance your performance and technique by doing this.
4. Be tenacious
By getting in touch with them, you can find out if a consumer who previously declined a deal has changed their mind. Additionally, by doing this, you can demonstrate your sincere interest in their enterprise, which might encourage them to conduct more business with your organization in the future.
5. Track your development
You may better comprehend how you've built your talents and plan by better understanding your development as a sales professional. You may also evaluate your performance and professional development by keeping track of your transactions and keeping an eye on your future client contacts.
6. Don't lose your cool
I've discovered over the years that a buyer's lack of understanding of the product, service, or benefits is frequently to blame when a customer declines or a possible contract fails.
Whatever the cause, you should always act professionally and avoid showing signs of offense.
Recognize and appreciate your prospect's time invested in your offer, demo, and presentation.
Remember that this might be a temporary choice, so avoid tearing people's relationships apart.
7. Don't let self-doubt consume you
Even the finest of us experience rejection, so spare yourself the guilt and don't beat yourself up.
Salespeople frequently encounter "no," so it's important to learn how to handle it without letting a poor response drain your energy.
Try to get used to hearing "no" because if you don't, you'll lose all of your self-confidence, which is one of the most crucial qualities of a seller.
One of the greatest ways to do this is to avoid taking negative feedback personally. Just because your prospect rejected your offer doesn't automatically spell the end of your future sales pitches.
In addition, there may be other factors in their decision to reject your idea, so be ready to address and overcome any challenges that may arise.
8. Know the “why”
We frequently allow our egos to get in the way and miss a crucial lesson.
So rather than pouting, you ought to try to identify the issue.
When compared to "I'm not sure" or "I can't give you an answer right now," it can be simpler to say "no" in some situations.
Budget, a lack of decision-making authority, or other factors you can't imagine could influence your prospect's choice.
It is crucial to be direct and inquire about why they rejected your offer.
You can gain important knowledge from them that you can use while creating your sales pitches if you pay close attention to what they have to say.
Depending on how your prospect responds, you can even ask if you can get in touch with them later, for instance, if your product or service lacks a feature they require or if they don't have the money to buy it.
Offer them the option to drop a line after you update your product to match their needs or follow up the next quarter once their financial condition has improved.
9. Reconsider Your Strategy
If you frequently receive notes, you might be doing something incorrectly.
Even if that's the case, you shouldn't freak out because you can adjust your strategy.
Check your sales presentation and pitch to see if there is anything that may be adjusted or enhanced.
You might get a frequent rejection for the following reasons:
- Your pitch is either too brief or tediously long. Keep in mind that you're working with busy professionals who don't have time to listen to a presentation about the history of your business or its purpose, vision, and fundamental values. Don't insist on detailing every feature; doing so will only serve to divert potential customers. Instead, concentrate on showing them how they can profit from your goods or service. On the other side, if you rush through your presentation and don't give enough details, your prospects may overlook a crucial element that could completely alter the course of the conversation.
- Your product is subpar or overpriced. Don't dismiss this danger because it has the potential to destroy not just a few deals but your entire company. Pricing can be difficult, so you should weigh your options to find the ideal rate to charge your clients. Find out how Autoclose and Proposify tackled this problem by reading our blog post on some typical challenges faced when operating a SaaS. Additionally, your product or service may leave a lot to be desired, so be sure to determine how you may enhance it and increase its value to your target market.
10. Understand Your Strengths and Weaknesses
There is no such thing as perfection, and we should accept it.
To get that "yes" and seal the deal, though, you don't need to be flawless; all you need to do is recognize your advantages and play to them.
You can improve your abilities even if you're not naturally good at giving speeches.
You may invite a coworker to pose as your audience or practice your pitch in front of a mirror, for instance. It will help you control all these elements better if you observe how your body language and facial expressions vary throughout your presentation.
Practice on low-value trades is another smart move because it will help you ease the pressure and find your footing. A SWOT analysis is a useful tool for discovering your strengths and weaknesses.
You'll realize that you are more self-assured and prepared to take on high-stakes prospects after a period of "fake it 'til you make it."
11. Never go against your prospect.
I'm not suggesting that you debate your prospects and attempt to persuade them that you're incorrect.
Even though you're courteous and considerate, your word choice needs to be deliberate and precise.
It's all about the finer points; use "and" to support your prospect's viewpoint rather than "but."
In psychology, "but" causes some conflict, and "and" allows for collaboration and achievements. Let's not forget that the devil is in the details, despite the possibility that you may perceive me as being nitpicky.
When making a pitch to potential customers, your words and message must convey the correct emotion so that you come across as approachable and helpful. But can have an undertone that makes you seem overbearing and interested in your agenda. And it is not encouraging.
It's not a smart idea to remark, "But this product has the potential to help you generate more money and lower your other costs," if you're trying to market a pricey new product to a prospect with a budget issue.
When your prospect says they are short on money, don't argue with them. Saying something like "I understand that and that's why I'm offering this product since it can help you minimize costs and bring back your investment (and even more) in the first 3 months" is much preferable.
Conclusion
Dealing with “No” is always difficult but not something very impossible. Following the above-described tips, you can better prepare the anticipated NO and even turn it into “yes”.