Tired of trying to fight price objections? All our sales training clients in Vancouver, Edmonton, Calgary and Toronto feel that price is one of the biggest objections they face. There always seems to be someone who is willing to sell their product for less. Stop hiding from these objections. Your ability to tackle them head-on is often the difference between making a sale or walking away frustrated by a low-ball competitor.
All Professional Salespeople know that the science of fighting price objections rests with selling value. Price is what you pay for something. Value is what you get for it. Too many Salespeople go into a big explanation on value, beating their chest about the great quality they have. They bring out research and presentation materials and then the buyer glazes over.
I’m not suggesting that this is a bad idea. I did the same as a Salesperson. After years of doing it, I simply wanted to cut to the chase and shorten my rebuttal so I didn’t sound like every other Salesperson.
An assertive attitude
I learned to lose fast and win slow. Lose fast with the wrong clients and win slow with the right ones. It’s about dealing with customers who met the ideal customer profile – the ones who wanted a fair price based on value and the quality of what I was selling. I started to fight price objections before the buyer raised them by saying things that caused them to think twice before voicing the objections. I challenged them in a tactful and diplomatic way with a smile on my face. I knew I had the right client when they smiled back at me as if to say “I wish our own Salespeople would say stuff like this.”
Before I give you the 15 Ways to Fight Price Objections, understand that you must pick the ones that seem authentic and sincere for you. Your personality, communication style and level of command must be high enough for you to have the confidence to deliver them. No one likes canned rebuttals that sound scripted and rehearsed.
Ways To Fight Price Objections
- If you’re looking for the lowest price, we probably aren’t the right choice.
- I’d rather explain our prices than make excuses for the lack of quality.
- No buyer really wants the lowest price if it comes with the lowest quality.
- We’d like to sell you our products and also be around to service them.
- As a Salesperson, I refuse to represent the low cost/low-quality provider. I just don’t want to be that guy. I don’t want to make excuses to my clients to explain why they’re not happy with our products.
- I don’t know why our competition sells for less. Don’t you think if they thought their product was better, they’d charge more for it, maybe even more than us? Wouldn’t they at least try?
- The lowest cost provider probably still gets price objections if the product they offer isn’t worth what they charge.
- No one ever comments about our prices after they experience what our product has to offer.
- No one really wants the lowest price. When is the last time you heard someone brag about a great deal they got on a piece of junk?
- We don’t have the highest or lowest prices in the market. We have great prices based on customer satisfaction. We don’t give that away.
- We’ve been in business for (number) years and intend to be around for that many more. How could we do that if we were always the lowest price?
- In every industry, price is always based on supply and demand. If you have low demand, there’s a reason for it. Perhaps your product isn’t good enough to charge a higher price.
- The price of our product is based on its quality, reputation in the marketplace and frankly my expertise in knowing what you need. We’re not willing to give that away.
- I apologize that you’re questioning our prices. Obviously, I haven’t done a very good job of convincing you of our value.
- Would you rather pay the lowest price on a product that didn’t meet your expectations or pay a fair price on one that exceeds them?
Have fun with these. Practice them before you attempt them. Rehearse in a mirror or role-play with your Sales Manager or colleague. Why not record a selfie video delivering them? See what the buyer would see when you say them. Please let me know if they work for you. If you have any to add, I’d love to see them in the comments section below.
Are you looking for sales tools to sharpen your skills and always be at the top of your game? Check out our book SHUT UP! Stop Talking and Start Making Money available on Amazon. If you prefer online sales training, check out the free trial of our course The Sales Skills Incubator.
Dave Warawa – PROSALESGUY