How to Deal with (Sales) RejectionJan 29, 2024
In the world of small business, hearing the phrase "I'm not interested" is not uncommon. In this bitesize lesson we discuss how to deal handle rejection with ease.
Keep reading for effective strategies you can use to turn a 'NO' into an opportunity for future business.
Understand the Objection
When a potential client says they’re not interested, the first rule is: Don’t take it personally.
There are numerous reasons why they may not be ready to buy at the moment, such as timing, budget constraints, or existing vendor relationships.
Remember that most sales require at least five follow-ups before closing the deal, so focus on building a relationship for future opportunities.
Approach with Finesse
It’s important to handle the objection with finesse, instead of a more combative or pressured approach.
The following strategies can help you maintain a positive rapport and set the stage for potential future business.
Offer to be the first in line
Respond to the objection by saying, "I understand. Let me ask you a question. The next time you're looking for [product or service], could I be the first person you speak to for a second opinion?"
By requesting permission to stay in touch and be considered in the future, you demonstrate respect for their decision while leaving the door open for further discussions.
Understand their criteria
Before ending the conversation, ask, "What might have to happen before you begin looking for a different [company/solution/product]?"
This question allows the prospect to express their criteria or preferences. Their response gives you valuable information for future follow-ups and enables you to tailor your offerings to their specific needs.
Take note of their response to your questions and any criteria they share. Use this information to inform your future interactions and personalise your offerings accordingly.
Follow up with relevant information
Based on the client’s criteria or preferences, follow up with additional information or resources that align with their needs. This demonstrates your attentiveness and positions you as a valuable resource.
Maintain regular contact
Stay in touch periodically to nurture the relationship. This could involve sharing relevant articles, industry insights, or updates about your offerings.
Consistent and thoughtful contact keeps you on their radar and shows your commitment to their success.
By understanding their criteria and maintaining regular contact, you increase the likelihood of converting disinterested prospects into valuable customers over time.
Remember, the initial "no" is not a final rejection but an opportunity for future business.
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