Overcoming Price Objections

The question today is; when should you start overcoming price objections with your new, prospective customer?  The answer is, right from the start of any sales call.

Now you might ask how you can start overcoming price objections before someone even knows the price, but the simple truth is that if you set up your customer for the coming sale with information and answers, and if you’ve listened well to what they want, you should have very few if any price objections once you get to the point where you present your price.

Many people, including seasoned salespeople, believe that their competitor’s lower price (or better product) is the thing that people will cling to when the question of price finally arises. The fact is however that no matter what your competitor’s price is or how much better (or worse) their product is, if you present yours in a way that speaks to your customer’s needs and gives them the perceived value that they want they will buy from YOU every time.

The easiest way to do this is to get your customer’s input before you get anywhere near the point of talking about price.  Ask questions, give questionnaires, get their opinions and find out what they really want. Do anything you can to find this out ahead of time and present them what they want before you present them the price. If they’re happy with what you’re selling them the price, unless it’s way out of line, should not be a problem.

It is vitally important that you engage your customers early in the sales pitch, drilling down as deep as you can to find out what’s important to them.  Is it price, or is it something else?  If, for example, you sell shoes and find out that your customer wasn’t satisfied with their last pair because they never fit right you now know what you need to accomplish in order to get the sale, which is a pair of shoes that is super comfortable and fit correctly.

When it boils right down to it your customer needs to see value in what you’re selling and the way to get them to see the value in what you have is to give them what they’re looking for. Do that and price should never be a problem. Do that an, when I’s time to talk price, they will already be sold and head to the cashier with a smile on their face.

 

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