One of the most important, and often most fun, parts of the sales process is discovery meetings. These are often referred to as “needs analysis meetings,” and their main goal is to uncover the desired business results of the prospect or client.
The success of these meetings lies in both the setup and the execution.
It’s important to:
- Prepare yourself and the prospect or client by sharing an agenda and expectations for the meeting.
- Create psychological safety to help prospects and clients let their guard down and open up for a more honest discussion, whether in person or with a shared screen remotely.
- Master the art of asking questions to uncover key information.
- Use a Needs Analysis process to uncover desired business results, prioritize the most important needs first, and confirm next steps.
Common Objections and How to Overcome Them
But even with the best preparation and planning, it is common to encounter objections during discovery meetings. Here are several common objections you may encounter and strategies for overcoming them.
Timing Issues: “We’re not ready to make a decision right now.”
Acknowledge their timeline and explore their specific concerns or reasons for delay. Emphasize the benefits of taking action sooner rather than later and offer to provide additional information or success stories from other clients with similar timing issues.
Budget Constraints: “Your product or solution is too expensive”
Understand their budget limitations and highlight the value and return on investment (ROI) your product or service can provide. Offer flexible pricing options or discounts if applicable.
Competition: “We are looking at other companies also.”
Highlight your company’s unique selling points and how your solution compares favorably to competitors. Offer a competitive analysis if necessary and focus on what sets you apart.
Stakeholders: “We need to consult with more decision makers.”
Understand their decision-making process and learn more about the key decision-makers. Offer to provide additional information or arrange a follow-up meeting with all relevant stakeholders present.
Previous Bad Experiences: “We’ve not had success with this product or service in the past.”
Show empathy and acknowledge their past concerns. Explain how your solution addresses those concerns and offer references or case studies of clients who have had positive experiences.
Resistance to Change: Things are just fine right now, and we’re comfortable with the way we are doing things.”
Highlight the benefits of change and how your solution can lead to improved efficiency, cost savings, or competitive advantages. Share success stories of clients who made a similar transition.
Benefits are Unclear: “We don’t see how your solution will help us.”
Provide specific examples with success metrics of how your solution has helped similar clients achieve their goals. Tailor your presentation to focus on their unique needs and pain points.
Trust and Credibility: “We haven’t worked with you or your company before.”
Share information about your company's track record, certifications, awards, or industry affiliations to build credibility. Offer to provide references or case studies to build further credibility.
Conclusion
Remember that the discovery process is a mindset, not just a meeting. Addressing objections effectively builds trust and increases the likelihood of moving the prospect closer to a positive decision.
The more you can learn about and understand about their business, the more you can help them achieve their desired results.
