Objections are a natural part of the sales process. Yet, after 15 years of working with sales people, I have found that many have a difficult time dealing with price objections. Here are a few strategies that will help you overcome price objections more effectively.
Price objections are still one of the most commonly requested programs. In today's commodity-driven world it is easy to fall prey to discounting your product or service in an effort to capture the sale. However, there is a better way to deal with the dreaded price objection.
Are you getting no action from the client? Have you effectively addressed the issue of risk aversion? Here are some tools to help address the issues that everyone faces when making choices and decisions.
If you're like most sales reps, you hate to get objections. Your stomach aches, your palms start to sweat, and you can literally see your commissions fly out the window.
Value selling is an important sales technique that relies on building on the inherent value of a product or service. Because customers often use price as the dominant factor in a sales negotiation, sales professionals need to demonstrate that sometimes the higher price is actually a better solution - a higher value.
If you are getting hit with the price competition response, the strategies in this article will give you the edge!
Whether you like it or not, price is top of mind with the majority, if not all, of your prospects. You probably find the question of price comes up in conversation with your prospects long before you've had the opportunity to build value. Here's an easy and effective technique for handling premature pricing questions.
Price can be your most common, and most frustrating, objection in these difficult economic times. Here's a proven two-step formula for handling it.
Downswings in the economy, interest rate hikes, petrol price increases and inflationary increases are a fact of life, and unless you live in Zimbabwe, you don't really have a case to blame business failures on these external factors.
Think before you speak - always sound advice, but it holds especially true in sales where a premature response can cost you. While it is tempting to offer a discount or better price, resist the desire to do so.
Many companies do not know how to deal with clients who constantly want to bargain. This is because consultants don't understand that once you make a single concession on price, you've enabled a behaviour which will inevitably cost you money and probably drive you crazy.
There is a little test that professional buyers give to every salesperson. It is a test to see if they are confident in the price they presented. They call it the flinch test. How many commission dollars have you lost because you flinched?
When we give prospects a 'good deal', instead of 'best price', we will close more business, with happier customers, at higher profits.
There's you in pursuit of winning new business, all excited by the prospect of landing a star client. You've spent months, even years, perfecting your policies and procedures and as quick as a flash you shoot yourself in the foot by giving stuff away.
Cutting prices may seem like a good way to win sales but it can be fatal to your business.
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