Price objections. They are the one thing every sales person receives, and it is an area that most sales people need help. A sales person’s typical response is to go to the manager to find out if the product or service price can be lowered, and while in some cases this may be necessary, it is not always the right solution. There are ways to combat price objections:
1.Fully understand the customer’s needs and explain how the product best fulfills their needs. Make sure the competition may offer a lower price, but do they offer the same benefits and features that the customer needs. Tell the customer why your product is the best and why a cheaper product may not be the best option.
2. Question. Question. Question.
There are certain questions that a sales person can ask to figure out points of interest that may stop price objections. Ask, “Outside of price, what are two or three factors that go into your decision making?” Then make sure to point out that your product has those attributes.
3. If you must lower the price then get something in return.
When you see that the customer will not budge on a price lowering then ask them for a little something in return. Ask if they have anyone that may be in need of your product or service. Then ask that they refer their friends or business partner to your company. That way, if you are lowering your cost, you are still able to make up the difference.
To learn more about handling price objections, attend our Webinar on April 26th- Closing the Sale in 5 Easy Steps. This Webinar will cover. . .
- Learn how questioning is the key to closing
- Learn why you should never have to ask for the order
- 3 CREATIVE relationship building strategies guaranteed to give you the winner's edge in any deal!
- Learn how to handle and successfully address objections early in the process
- Learn a great closing strategy and technique without coming off aggressive
- Learn the #1 thing customers want to do today more than ever when it comes to doing business with an organization
- And Much More
