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Jul 21, 2021 · Price objections are common in sales — primarily because most prospects have learned pushing back on cost will get them a discount. That makes it difficult to respond to a pricing objection if you don’t want to immediately lower your price.
- Aja Frost
Here's a little trick that used to work like a charm for this common objection. Client: "Your price is too high!" Me: "Compared to....?" Client: "Well, we're happy with [current vendor]" Me: "Scale of 1 to 10, how perfect is [current vendor]?" Client: "7."
Facing a price objection? Remember—it’s not always about the price. Learn 18 strategies used by sales professionals to overcome price objections & win deals.
Apr 25, 2024 · A sales objection is a prospect's expression of resistance or hesitation during the sales process. It indicates concerns or barriers the prospect perceives with the product or service being offered. Common sales objections might relate to the price, relevance, urgency, or credibility of the offer.
- Don’t bring up the price too early in the conversation. For many potential customers, the price of your product is an important factor when deciding whether or not they will be willing to make a purchase.
- Ask questions to understand your lead’s real concerns. "A lot of the time, price is not the only issue, and it's merely being used as a smoke screen." 🗣️ Tom Searcy.
- Empathise with the lead, but hit on the pressure points. While it’s understandable that you want to close the deal and secure payment, it’s important to put yourself in the consultative position.
- Tap into your leads FOMO. We’ve already talked about the effectiveness of painting the gruesome scenario a business can find itself in, if it doesn’t invest in your product or service today due to price concerns.
1. “It’s too expensive.” Note that this objection is not the same as “We don’t have the budget.” Your response to this objection puts you in 1 of 2 positions: Beware of defending the price of your offering! If you use your price as a selling point, you reduce your role in the buying process.
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Jul 3, 2023 · What is a sales objection? A sales objection is a customer's stated resistance to making a purchase or moving forward with a transaction. Sales reps often encounter objections like price concerns, competitor comparisons, doubts about product suitability, and bad timing.
