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My sales team keeps lowering our prices ... What Can I Do?

Thu,Mar 26,2015 @ 08:04 PM

One of the most common things I hear in selling is the battle of selling value and handling the buyers price objection. So often sales leaders and managers provide rhetorical feedback such as you have to negotiate and sell value when in fact most salespeople may not know how to do that or understand that type of feedback.Here's a simple formula to understand your sales team's ability down to each and every rep in regard to their ability to handle a price objection:

  1. Ask a knowledge-based coaching question such as "teach me the steps so I don't make an assumption of what you would do step-by-step to handle this price objection"? Tell me exactly what you would say.
  2. Practice what they have presented in terms of their knowledge and observe their ability to do it thoughtfully, professionally, and flawlessly.
  3. Observe the behavioral aspect of whether they can handle the price objection with confidence and conviction void of fear, anxiety, and perceived nervousness. These are called the three tiers of learning.

The key is to first ask questions that help ascertain whether they have the knowledge of how to handle the objection, have practiced to improve the ability to perform, and ultimately evaluate if they can perform the knowledge and skill together with confidence. This progression will help pinpoint each salespersons strengths and area of opportunity to handle a price objection.

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Topics: coaching

Tim Hagen

Written by Tim Hagen

Tim Hagen founded Sales Progress, a Training Reinforcement Partner Company, in 1997. His entrepreneurial career began in college leading to positions in sales, sales management, and sales training for small and large corporations, and eventually ownership of several training companies. He possesses a unique combination of hands-on experience, academics, and innovative insight to solve the industry’s most common challenges. Tim holds a bachelor’s degree in Adult Education and Training from the University of Wisconsin, Milwaukee.

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