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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.
- How to Discuss Price
- When to Discuss Price
- 30 Responses to Price Objections
This process will help you overcome price objections: Step One: After the prospect has finished speaking, pause for three to five seconds. (Hit the “Mute” button if you need to.) Step Two: Explore the pricing objection. According to sales trainer and consultant Colleen Francis, you can ask up to three questions before responding to the objection. S...
According to Gong's analysis of 25,537 sales calls, there are clear-cut "best times" to discuss your product's price— between 13 and 20 minutes, and 40 and 49 minutes. These findings make sense: High-performing reps bring up pricing at the beginning of the call to set their prospect's expectations, and again near the end so they can transition smoo...
The following responses to pricing objections allow you to acknowledge your prospect’s concern without immediately slashing your price or causing them to walk away.
- 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.
In simple terms, price objection is a customer's objection to the price of a product or service. It is a barrier that prevents prospective customers from making a purchase. These objections can occur at any stage of the sales process, from initial contact to negotiation and closing. When customers raise price objections, they are essentially ...
Customers object to price for 3 main reasons: 1. Comparing your product and price to others. 2. Their expectations about the price. 3. Beliefs about the cost and value. When you understand the reasons prospects raise objections such as: It's too expensive... handling price objections becomes a lot easier.
Jul 22, 2015 · In fact, the price objection is often the biggest smokescreen objection of all – meaning that prospects throw it out to hide what the real objection is. And the reason they use it is because it works: again, everyone understands budget concerns because we all have them…. Top producers know how to go beyond this smokescreen objection and ...
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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 ...
