Problem Discovery & Product Objections

Problem Discovery & Product Objections

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All products have deficiencies. Don't get too worked up over it. Successful technology companies master the art of overcoming objections by making them seem trivial in the grand scheme. How do they do it? By asking the right questions early in the sales cycle.

The single biggest factor to overcoming objections is to understand very early in the sales cycle the connection between your value proposition and the pain points at the executive levels of the prospect's organization. The sooner you can make this connection, the more leverage you'll have not only during the product demo but at the negotiating table as well.

Problem Discovery

During the sales discovery process we tend to ask the obvious questions about the need for our products. The responses are typical such as cost-cutting, higher productivity, improved efficiency, etc. Unfortunately, the discovery process stops there all too often.

The question we don't ask nearly enough is, "why?" Why are cost-cutting or higher productivity so important, and what are the implications at the top levels of the organization.

The answers to these questions give us the ever-so-important "why" that drives the buying decision and are usually tied to grand scale issues such as growth, survival, a recent embarrassment, competition, etc.

Overcoming Objections

In reality, many objections raised during the sales cycle are not that important relative to the big picture. The challenge is helping your prospects see it the same way. But it's nearly impossible to do if we don't understand the real issues driving the decision. It's a big reason we often get fooled into thinking product features are driving the decision. It's rarely the case.

So you don't have every productivity or efficiency feature? No big deal! Redirect the focus of your value proposition to the capabilities that address larger scale issues such as growth or competitive pressures.

When you get pushed for higher discounts during contract negotiations, reiterate your value relative to issues in the executive suite and your strengths versus the alternatives. It's simply a matter of having the confidence to do it. And the only way to get that confidence is to find the relationship between your product and the most critical issues at the top of the buyer's organization.

The next time you talk to a prospect, ask them what their CEO is losing sleep over and how it's impacting major areas of the business. The answer represents "why" your product is being considered, as well as your ticket to overcoming most objections with brimming confidence.

If your team needs to improve their problem discovery and objection handling techniques, send them to Product Management University to learn simple techniques they'll benefit from immediately. We make house calls too.