3 Steps to Overcome Objection from Clients

Sep 11, 2015

In consulting business, objection is commonplace. The unfortunate thing is that some consultants still find themselves sitting tight and hoping they never encounter objection. That is the wrong thing to do. As a consultant, you need to accept objections and find ways to turn things around. Great consultants thrive on turning “no” equivalents in a resounding “yes.” So, how do you do this?

Below we have discussed four steps to overcoming objections;

1.      “We don’t have budget allocations for this.”

Everyone has a budget. And when developing a budget, we prioritize our needs and allocate funds accordingly. So, when someone says they didn’t budget for consultancy, it might be true.

However, maybe they don’t budget for consultancy only because they don’t know the value of such services yet. If you can convince them that it can be a masterstroke to their businesses, they may swiftly make room for your services.

2.      “We’re in cutback mode; we can’t spend on your services without special approval.”

This is one of the most common forms of objection. In a world where companies try to minimize expenditure while maximizing revenue, you shouldn’t be surprised to hear it.

When a consulting client or buyer says this, don’t just say: “Well, too bad then. See you.”  No, don’t accept it. What the buyer means is that they have money but they are trying to minimize costs. So, you need to make them believe that one of the best ways to spend their money is to pay for your consultancy services. Find out how they are spending their budget and identify costs that could be struck out in favor of your services. As long as you can demonstrate value, they are likely to agree with you.

3.      “That sounds great, but we currently don’t have the finances”

Quite familiar, right? This statement shows that the buyer actually values your services and would be prepared to pay for them. You just need to convince them. A great selling point would be to discuss value before finances. Convince them that the money they pay for your services could pay for itself within a short period.

In short, it’s all about sticking to your guns while being professional. These clients have money to spend. So, do not backtrack. If they say “Now is not the best time,” respond by asking “So, when would be the best time?” It also helps to get a business consulting merchant account so you can accept credit cards and other electronic payments online.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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