The best way to handle any objection is to anticipate it and, if possible, make sure that it never intrudes into the sales discussion. Once a thought has been expressed by a prospect it becomes harder to eradicate. This is because the prospect has placed himself on record and is unlikely to recede easily from his position.
Objections that are raised to price are probably the most frequent of all honest reasons for prospects refusing to buy. It’s important to understand where the price objection is coming from, before you can handle it effectively.
Sometimes a prospect will object to price because it is simply more than he can afford to pay. The products or services are too expensive and the buyer can only afford something of a cheaper grade. As the salesperson, it is your duty to enrich the prospect with the knowledge of how the purchase of a quality item will be more economical in the long-term as opposed to buying the cheaper article of a lesser grade.
Scripts:
* “Compared to what?”
* “You know that our quality is the highest you can find, which means that you pay much less over the life of the product. The higher quality saves you money in the long run. Why not order today?”
* “If our products were cheaper, would you want it? If yes, let’s find the way you can afford it!”
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