"Before we can discuss prices we both need to be absolutely sure that we are right for you. Here are some related to handling price objections:. Below are three understandings of objections and accompanying structures to handling them. Price Objection Handling Strategies Strategy How to Use it Postpone Postpone talking about prices until after you have demonstrated the value. The price that you sell your home for, is not based on the value of your home but on the interest rates. Customer: “It’s too expensive” The price objections are the best type of objection questions you can get. (Then proceed to explain the most relevant feature of your product)” 5. Price is the most convenient objection a prospect can use to throw a spanner in the works of your sale. Check them out here. L.A.I.R. I'd add a few more to his: Nothing is ever purchased based on price alone. And if you think even harder, you can … Price is usually 5th or 6th on the list of buying criteria. Unbelievably, 70% of the time it is salespeople who mention price first. Never be the first one who brings up price. Some acronyms to guide you in handling price objections. Script Resources and Coaches. Anyone in sales knows salespeople love giving acronyms to processes, tips, principles and other sales matters. At this point, you have already conducted a needs analysis, and it helped you tap into the emotions of your seller.The reason we conduct a needs analysis and dig deep into emotions is because when objections start to come up, you can refer back to what you learned in your needs analysis. You’ll find that they weave into one another, allowing you to tango with prospects, while unpacking objections proactively as opposed to reactively. Price often is not the heart of the issue but an indicator that something else is going on. The Price Squeeze. In his article, Tom provides 4 excellent thoughts to help you get control of the price discussion. The price is too high is an objection that is as old has humanity itself. Price objection handling: why a needs analysis is important. Response script #3: “What I hear you wondering is, ‘what benefits are there for me in this product?' I couldn't agree more. Listen: Open your ears and extract what the objection really is. Bad move! So, if it's all right with you, we'll come back and discuss the price in detail when we both know what you need." Clients will use the price objection because it's a convenient excuse. If you think hard enough, I’m sure you can see the ancient Egyptians walking around an outdoor marketplace haggling with sellers using this very objection.
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