Nothing sucks the air out of a sales conversation quite like a price objection. When it comes time to talk about price, the situation suddenly gets real for both the buyer and seller because everything is on the line including value, expectations, commitment and certainly emotions. Price is the one objection that can stop the sales process faster than a cheetah chasing a chimpanzee and it is equally deadly. And no wonder; it is a common sales tactic used by customers to attack your profit. It gives control to the customer and puts you in defence mode while destroying your confidence. Worst of all, a price objection in the sales process is one that most salespeople will commonly fail until they learn to handle it properly.
Here’s the truth about price objections: purchasing decisions are almost never about price alone. In fact, people will evaluate your products and service on price when they perceive no other value. Worst of all, immediate price reductions are an admission of guilt that will damage the trust you were trying to build with your customers because, at least in their mind, you are admitting that you were going to try to overcharge them. Now I’m not saying that price isn’t important, but it is the oldest trick in the book that customers will use to keep you in line. However, you already did your best to give a fair price and you can’t just give in. What you need is the Price Pushback Process. This is the best way to get the conversation away from price and back to value so the sale can get back on track.
We will learn about:
- Understanding price objections
- Price objections VS price rejections
- The price pushback process
- The 4 questions to call the bluff
