This author is working on a book to be published in early 2025 that addresses issues about the decision to procure and implement today’s exploding technologies such as Artificial Intelligence (AI). So, for this edition, we wanted to try something new. We are going to ask Chat GPT how to sell Artificial Intelligence and glean knowledge from this non-human response.
We will ask the following and present the AI response. Do to space limitations we will limit the length of the AI answer. Finally, how does the AI response compare to experience?
Question: What are the Top Ten B2B Sales Objections?
We are licensed and used ‘Chatbot Pro powered by OpenAI.’ to obtain the following response:
In B2B sales, encountering objections is common. Here are ten of the most frequent objections sales professionals may face:
1. Price Concerns: “It’s too expensive.” Buyers often worry about how a purchase impacts their budget.
2. Need for Approval: “I need to get this approved by my manager.” This highlights the longer decision-making process in B2B environments.
3. Existing Vendor Loyalty: “We’re already working with another provider.” Customers may be reluctant to change suppliers due to established relationships.
4. Timing Issues: “We’re not ready to make a decision right now.” This can signal that the buyer needs more time or is in a different stage of their purchasing journey.
5. Lack of Trust: “I don’t know enough about your company.” Prospects may require more assurance regarding the credibility and track record of the vendor.
6. Concerns Over ROI: “How can you guarantee a return on investment?” Buyers want assurance that the product or service will add value to their business.
7. Complexity of Implementation: “The implementation process seems complicated.” Prospects may fear that adopting a new solution could disrupt their operations.
8. Product Fit: “I’m not sure this meets our specific needs.” For B2B buyers, product alignment with their unique requirements is vital.
9. Potential Risks: “What if it doesn’t work for us?” Buyers may worry about the risks associated with adopting new solutions or the potential for failure.
10. Economic Conditions: “Given the current economic climate, we need to be cautious.” External factors, such as economic downturns, can lead to increased scrutiny on new expenditures.
Addressing these objections effectively is crucial for closing deals in the B2B space.
This is pretty impressive. It is a simple example of the power this set of technologies can deliver if used properly. Readers may remember an example of how not to use AI. Some examples can be found in our Blog edition, How Stupid is AI? Humans still develop Artificial Intelligence solutions. Therefore, the relative value of this suite of technologies isa function of the expertise of those seeking to solve various difficult challenges.
What Unreleased Value will you Address with AI and Why?
We are pleased to announce our forthcoming book to be published by CRC Press in 2025, Navigating the Data Minefields: Management’s Guide to Better Decision-Making. This is a book for the non-IT executive who is faced with making major technology decisions as firms acquire advanced technologies such as Artificial Intelligence (AI).
For More Information
Please note, RRI does not endorse or advocate the links to any third-party materials herein. They are provided for education and entertainment only.
See our Economic Value Proposition Matrix® (EVPM) for additional information and a free version to build your own EVPM.
The author’s credentials in this field are available on his LinkedIn page. Moreover, Dr. Shemwell is a coauthor of the just published book, “Smart Manufacturing: Integrating Transformational Technologies for Competitiveness and Sustainability.” His focus is on Operational Technologies.
“People fail to get along because they fear each other; they fear each other because they don’t know each other; they don’t know each other because they have not communicated with each other.” (Martin Luther King speech at Cornell College, 1962). For more information on Cross Cultural Engagement, check out our Cross Cultural Serious Game. You can contact this author as well.
For more details regarding climate change models, check out Bjorn Lomborg ands his latest book, False Alarm: How Climate Change Panic Costs Us Trillions, Hurts the Poor, and Fails to Fix the Planet.
Regarding the economics of Climate Change, check out our blog, Crippling Green.
For those start-up firms addressing energy (including renewables) challenges, the author can put you in touch with Global Energy Mentors which provide no-cost mentoring services from energy experts. If interested, check it out and give me a shout.