It’s one of the questions I receive the most often…how can a salesperson overcome those dreaded pricing objections?
It’s interesting that this comes up so often, because it seems to me that more often than not, most salespeople are looking at pricing objections from the wrong perspective. In fact, these common objections often have nothing at all to do with price!
Let me explain.
What the prospect is often doing is comparing apples to oranges, in other words, they have a feature or benefit objection. Meaning, they haven’t seen the value in what you’re providing.
When this is the case, it’s essential that you take a step back and ensure that what you’re selling is in alignment with what your prospect wants and needs. If it isn’t, then no price is going to be a good price for the potential customer.
Be very careful when you face a pricing objection. Don’t be so quick to discount your price.
When you do, you lower your own value.
Ask the customer exactly what it is that they value or what part of your product they’re uncomfortable with.
And, after you’re equipped with a better understanding of what the prospect is seeking, you’ll be able to scale up, scale down or adjust your offering as needed.
That’s the right approach. It’s strategic, it provides you with more information and data about your customer, and allows you to adjust your offering in a way that’s mutually beneficial.
Find top sales insights to grow your business in my book, Nonstop Sales Boom.