It’s tough getting over sales objections. Especially when you’re competing with the biggest names in your industry. But when buyers are constantly picking your competitor over your product, you’ve got a big ol’ problem on your hands.
Our customer’s reps were in this exact situation not long ago. In one corner, their team of just under 40 reps was working hard to sell a financial services platform. Reps had two goals:
1. Convince callers to fill out an application
2. Show them what their rates could be if they switched over.
But in the other corner were their competitors – the big players in their industry. Most potential customers already knew these competitors or – even more challenging – were currently using them.
Inevitably, reps would get a competitor objection from the buyer. And they just couldn’t get past them.
One Particular Competitor Kept Killing Deals
In just one month, reps would run up against their top competitor 60 to 100 times. Based on Balto’s data, they didn’t win a single deal against them.
With the support of Balto’s Customer Success team, team leaders took a closer look at how reps were overcoming the objection. Balto’s dynamic prompts would trigger when callers mentioned this competitor. The prompt automatically showed three rebuttals to the rep:
- “What do you like about working with them?”
- “How long have you been with them?”
- “How do you use them?”
It turned out that these rebuttals got the customer talking about the competitor in a positive way. It gave them an opening to justify sticking with the competitor. The sale was lost.
A New Set Of Rebuttals Reframes The Competitor
Team leaders immediately acted on this new insight and updated Balto’s dynamic prompts with new rebuttals. The new rebuttals would draw out negative feedback about the competitor instead:
- “What do you not like about them?”
- “What is one thing you would change about them?”
- “Are you happy with their rates?”
The update was done in ten minutes and instantly went live to the entire sales team.
Suddenly, buyers started complaining about high prices and missing features. The perfect layup for reps.
One Small Change = 25% More Wins
In one week of using the new rebuttals, reps had won 10 applications. After the rebuttals were used 100 times, Balto’s dashboard showed reps had scored 25 applications after competitor objections.
A 25% growth in win rate — all from rephrasing rebuttals. No need for a long QA process to figure out what was wrong, or any new training. Just better selling at the push of a button.