Most often when we lose a sale it is simply because we give up too early.  When you hear an objection to your pitch it is important that you don't take offense or get angry.  Just try to figure out what exactly your customer is objecting to.
The best way to do this is ask an open ended question.  Here are Blair Singer's rules for handling objections from his Sales Dogs Training School Kit:
RULE #1:  NEVER, ever, ever, ever, ever negate the experience or view of the prospect!!!!
RULE #2:  Answer each objection with an immediate "thank you" or an acknowledgement of the objector's position or point of view.  If it is a true objection or disagreement, or if it is a true inquiry, first acknowledge the source and then respond briefly with a concise, courteous answer.  Then ask the question, "May I ask why?"  DO NOT answer anything until you ask a question first.
RULE #3:  DO NOT ask "trapping" questions to corner or close the prospect.  Instead, ask "Why, How and What specifically" questions.  Make sure you are really concerned and interested in the response.
RULE #4:  Always have a succinct, one line response to potential questions prepared.  These responses should be unique to each customer.
If you follow these rules you will vastly increase your sales percentages.
The following is a common objection and some recommended responses to keep your prospect involved in the sale:
I have a relative in the business who can get the product for me cheaper.  My cousin knows someone who can get it or who gave some good advice about this stuff.  (Uncle Louie Objection)
That's great!  Is it possible to get together with him/her and make sure that we're all on the same page.
Excellent!  Perhaps we can give him a call right now and make sure that we're talking about the same thing.
For more responses to the Uncle Louie Objection please refer to ourSales Dogs Training School Kit.  The kit includes training on objection handling as well as responses to the top 30 objections that stump unprepared salespeople all over the world.