September 17, 2009

How to Handle the Price Objection

Filed under: Sales Training — Tags: , , — Freedom Personal Development @ 6:00 am

David DenisMany salespeople struggle with objections, because they are trying to answer the wrong objection. People buy because they see the value in what you are selling. People will NOT buy when they see little or no value for themselves.

Nevertheless, there are also times when people see the value, but still are reluctant to buy. In this case, it may be a matter of budget. They simply do not have the money to obtain the value they desire.

People are often reluctant to come right out and tell you the true source of their objection. If you run into objections, review your demonstration to make sure you are hitting the right value buttons. If that’s all in order, then bring out that last big benefit that you were holding back just in case.

If that still doesn’t move them, then it could actually be a price issue. This does NOT mean that you must lower the price. It does mean that you have to figure out what their real objection is.

But if they agree that all the benefits you raised are important to them, then try asking this question.

Does the price of this particular item seem too high, or is it just more than you wanted to spend today?

If they say that this price of this particular item is too high, it indicates that they do not feel that the value exceeds the price. But don’t cut your price. Increase the value. Give them some additional benefits and close again.

If they say that it’s more than they wanted to spend today, this indicates that it is a budget issue. So move them to a different product that is within their price range. Don’t be surprised if they end up preferring the benefits available with the more expensive option, and end up finding the money. It happens all the time. But if they choose the lower priced option, you have made the sale, met their need and done it without cutting your price.

I learned this technique from Harry Friedman, founder and President of the Friedman Group. It’s a great way to insure that you are handling the right objection.

Be Free!

This article was written by David Denis owner of http://www.rocksolidwriting.com

David is a freelance writer for hire offering article writing, sales letters, training manuals, speech writing, seo content, sales writing, blog articles, copy-writing service, sales scripts and business name ideas.

To learn more, or request a quote visit http://www.rocksolidwriting.com/freelance-writer-quote

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