Learn The Strategy to Handle Status Quo Objection

learn strategies to handle the status quo objection

There is a well-known joke that a good salesperson is the one that is able to sell the ice cubes to the Eskimos. This means that a salesperson can sell anything to anybody. 

Status quo is termed for a situation where the prospect is happy with what they have, happy with their current supplier, and the company is happy with what they have. So, customers don’t find any reason to switch whereas companies don’t think to bring in some innovation to their product. In this kind of situation, one doesn’t compete with others but the status quo. When the future customers feel that they don’t need anything new, how will you convince them to buy!

  • Asking the right question

Asking right question is very important. So, when your prospect bought their existing solution, which reasons led them to make a choice? What benefits were important at that time, and do they still stand true? Who was the one who made the buying decision, and were there any issues or flaws? And above all, when was the solution bought and why? You need to speak to the people using the solution to figure out more about the status quo.

  • Defining the value proposition

Well, it is essential to define the value proposition. It is not about your perceived USP of the product/solution. It is about what your product offers compared to the existing solution. What are the benefits of higher productivity/ efficiency, ROI, or status? For example, if car A takes you from one place to another, what is the use of buying car B. What is the added value if someone buys it? 

  • Create awareness and need

It can be challenging to create a buzz in times where everyone is looking for attention. If your marketing campaigns are failing to do so, you need to take ownership and reach out to people personally. You need to make people understand the benefits of your solution as compared to the existing solution. You need to answer the arguments raised by the prospects. 

  • Pitching the beneficiary

Every company strives for its share in the market; hence you need to explain the benefits at the right level to the right people, i.e., to the decision maker. 

  • Upgrade the pace of pitching

When you sell directly, you can sell to as many people as present in the meeting. How will you increase the efficiency of your pitch? You need to develop the right strategy for making the pitch by asking the right questions and positioning the benefits according to their needs. 

It is to be kept in mind that building long-term relationship is essential, so avoid pushing too hard. While pitching, try to build connections. Also, try to collect references and build your network as well as your brand. 

Few ways of handling the status quo objection:

  • You must mention that with changing time, they may consider the newer option in the future. You can give them a demo of your product or service and explain how it can be beneficial to them. 
  • You can ask them about the last time they made a comparison about services and pricing and explore what’s available to them.
  • You can simply educate the prospect about what’s available in the market so in case they need something in the future, they will know whom to call.

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