BY Jessica Helinski
Are you tired of hearing the same sales objection: “We’re happy with our current vendor?” 37% of B2B sellers say this is one of the top objections they face, according to SalesFuel research.
This is a tricky situation, and it may feel like you are facing an uphill battle. But hearing those words can actually create an opportunity to show your value.
What’s behind this sales objection?
When a lead says they are satisfied with their vendor, it doesn’t always mean you have no chance of replacing them. According to the professionals at Hyperbound, it’s time to shift to a “diagnosis mindset.”
They believe that phrase can mean any of four things, and it’s up to you to uncover which is actually the case.
The prospect is truly happy
In some cases, the prospect is genuinely happy with who they are currently working with and don’t want to change. Instead of focusing on replacing the vendor, shift to the potential of a future sale down the road.
It’s partly true
They may be satisfied with their current vendor, but they’ve likely experienced issues or dissatisfaction along the way. That’s where the opportunity lies: uncovering those underlying pain points and turning them into opportunities to win their business.
They’re rushed
Sometimes, a prospect is just brushing you off; they’re busy and you caught them at a bad time. This means you just need to pique their curiosity enough to break through the busyness.
It’s a knee-jerk response
In this scenario, the prospect is likely used to unsolicited calls and has a canned response ready. Your job is to “disrupt” that pattern with a response that is unique and attention-getting.
What are the best responses for this objection?
Hyperbound shares a variety of follow-ups that sellers can use when hearing the vendor sales objection. After you’ve identified the “why” behind their response, you can choose the most appropriate approach.
The "Compliment and Probe" Approach
This response works if you know the name of the vendor (which you can get by simply asking if they don’t mention it first). Start by complimenting the vendor – this will likely throw them off their guard.
Next, ask a question that can poke holes in their current satisfaction. Make sure the question is directly related to their business and pain points, which you should have uncovered during prior research.
For example, you could ask, “What is something they could do better to help you achieve X?”
Their response will then open the door for you to share how your offering can fill that gap. And it does so in a manner that is thoughtful and humble.
It works, as Hyperbound explains, “because it acknowledges their choice while creating space for them to share frustrations they might not have volunteered otherwise.”
The Value-Based "Common Pains" Approach
Use this approach in the scenarios when the prospect doesn’t want to share the vendor’s name. Instead of focusing on a specific vendor, you can respond by highlighting common challenges that others in their industry face.
An example is saying something like, “We’re not looking to replace what’s already working. But even satisfied customers often experience pain points with their current provider, such as [pain point #1] or [pain point #2]. Have you run into anything like that?”
The "Future-Pacing" Approach
When a prospect is truly happy with a vendor, there’s still a reason to stay on the line. Redirect your focus to future potential. This offers a low-pressure way to stay on their radar and position yourself for consideration.
Mention that similar businesses review their vendors annually, and they will either confirm or correct you, giving insight into their process. Request to be considered and offer to send information when the time comes.
Likely, you’ll hear this common sales objection often. Embrace these best practices: Learn the why behind their response and use the appropriate approach. And remember, role-playing and practice will make all of this come easier. By being prepared, you can respond in a way that keeps the conversation going.
Photo by Vitaly Gariev on Unsplash
