In the world of sales, we have to learn how to handle a wide array of objections. The most popular of these is the "price objection", where the customer basically makes a comment along the lines of "I can't afford it" or "Now isn't a good time". Here's how to handle this issue.
Begin the process by making sure you emphasize the value of your product or service. Recap your conversation with "We both think that this is a great solution for your problem. Would you agree?" This gets the prospect to acknowledge your understanding of their problem and your solution.
At this point, you still haven't shown them the price. "If this were free, would you hesitate to take it?" Of course your prospect will say no. "So it is about price. I'm glad to know that because I wouldn't want to sell you something that would make you uncomfortable. What do you think would be a fair price and in your budget?"
Now that all sounds a bit hokey and you can feel free to adapt it to your own personal style, but knowing the elements of the process is all that matters. Recapping your conversation, not talking price, and asking what is in their budget puts most of the balls on their court.
By not showing price but addressing it shows us another trick that you can always use - beating the client to the objection*. If you bring up price first, the client won't be able to use that one. By learning the most common objections, you can prepare for all kinds of scenarios.
*I'll discuss getting the objection out before your customer more in a later blog.
Chris Castanes is a speaker who helps sales people succeed through workshops and humorous presentations. For booking information, click here. He's also the president of Surf Financial Brokers selling life and disability insurance in several states.
Begin the process by making sure you emphasize the value of your product or service. Recap your conversation with "We both think that this is a great solution for your problem. Would you agree?" This gets the prospect to acknowledge your understanding of their problem and your solution.
At this point, you still haven't shown them the price. "If this were free, would you hesitate to take it?" Of course your prospect will say no. "So it is about price. I'm glad to know that because I wouldn't want to sell you something that would make you uncomfortable. What do you think would be a fair price and in your budget?"
Now that all sounds a bit hokey and you can feel free to adapt it to your own personal style, but knowing the elements of the process is all that matters. Recapping your conversation, not talking price, and asking what is in their budget puts most of the balls on their court.
By not showing price but addressing it shows us another trick that you can always use - beating the client to the objection*. If you bring up price first, the client won't be able to use that one. By learning the most common objections, you can prepare for all kinds of scenarios.
*I'll discuss getting the objection out before your customer more in a later blog.
Chris Castanes is a speaker who helps sales people succeed through workshops and humorous presentations. For booking information, click here. He's also the president of Surf Financial Brokers selling life and disability insurance in several states.
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