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The Sales Buzz Issue 297 - Objections to the Price
December 03, 2015

Objections to the Price

How to Overcome Them

Objections to the price are common and they can stop you closing sales.

They’re difficult to overcome.

You won't get past them with smart rebuttals and rehearsed replies.

That's because using those techniques you don’t get to the real cause of the objections, the buyer’s beliefs.

It’s their beliefs that support this sales objection.

Their beliefs about what the item should cost, how it compares to similar products, and maybe even their beliefs about you, the salesperson.

Take a look at this example

Below is an example of a sales objection based on price that you may come across.

This example demonstrates how to handle the objections to price.

Like all the sales training I present my objective is for you to understand a process.

Once you understand the process to overcome the objections adding the words is easy. You’ll also use the best words for each situation, not a one size fits all stock answer.

Example: Other suppliers are cheaper

The customer is comparing your product and its price to other products on the market.

The buyer believes that your product is similar to another one on the market that is cheaper and so they raise objections to the price.

At this point many sales people respond immediately with their best standard response to price objections. My advice to the sales people I train is: Don’t respond with an answer to the objection.

Here’s why...

Reasons Why Prospects Raise Objections to the Price

There are 3 reasons why you get objections to the price of your products and services. These 3 reasons are used alone or in combination by the prospect to form beliefs about the pricing of your products.

By understanding the beliefs that have been formed, and which of the reasons have been used to form them, you can change the prospect’s beliefs and overcome the objections.

Think of it this way

If 10 prospects gave you the same objection, using exactly the same words, there could still be 10 different beliefs behind the 10 objections to the price.

Using a pre-prepared stock answer to all 10 of the objections will give you a very low success rate on closing sales.

The action you should take is to ask questions, good questions that will show you which of the 3 reasons the prospect is using to form their beliefs and what exactly those beliefs are.

To see the 3 reasons buyers raise objections to the price, how to define their beliefs about the price, and how to overcome the objections and close more sales, go to Objections to the price...

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