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Jul 21, 2021 · 4. "I hear you. The best products are often more expensive." According to sales expert Geoffrey James, "a price objection isn't 'real' until the customer has brought it up twice." Using this response the first time you hear "it's too expensive" can help you separate the prospects who truly don't have the budget from those who are merely kicking ...
- Aja Frost
- 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.
- “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
- “We don’t have the budget.” Remember that you’re in this conversation for a reason: Your prospect has a pressing issue that your offering can solve. Their problem needs an eventual solution, and waiting to find that solution will only prolong their pain — and could even make it more severe.
- “I can get a cheaper version somewhere else.” This objection requires a bit of detective work. There are a few explanations and it’s important to find out what you’re dealing with.
- “We’re being downsized/bought out.” Unfortunately, this objection usually means the end of the road. If your prospect no longer has a business, then you no longer have a deal.
Apr 4, 2023 · 18. Offer a Money-Back Guarantee. —Riva Jeane May Caburog, PR/Media Coordinator of Nadrich & Cohen Accident Injury Lawyers. “Part of your sales strategy should be offering a money-back guarantee to avoid price objections and for the customer's peace of mind.
Use smart questioning to uncover reasons behind price concerns. Leverage testimonials and case studies to validate product value. In the high-stakes game of sales, encountering a price objection is as inevitable as the rising sun. “Your price is too high!”. – This phrase can either be a salesperson’s nightmare or an opportunity to shine.
Sales objections can be grouped into several common type: Price objections happen when prospects feel your product is too expensive. They might say, “This costs too much,” or “I can’t afford it.”. Need objections occur when prospects don’t see the need for your product. They might respond with, “I don’t think I need this,” or ...
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3. Restate the Objection Before Answering the Objection. It’s a good idea to check for understanding and demonstrate that you are listening by restating your prospect’s objection. 4. Take a Pause Before Responding. Many times salespeople “oversell” when they are answering an objection.
