Do you find yourself fidgeting each time a customer says things like “I know someone who sells this same product at a cheaper price?”
And maybe you’ve lost a couple of sales because you weren’t sure of the right thing to say.
Well, price objection is something every business owner faces on a daily basis and if you read till the end, you will never lose a sale again with the tips you’d get from this post .
When you hear your customer say things like “your price is too high” “the other options we’re exploring are 10-15% cheaper…
At this point you should know that you are competing with other products
What to do is simple…
ENLARGE YOUR PROMISES
DON’T SOUND DESPERATE…show your customers that you are sure of your price.
Simply explain to them that your product is ten times stronger than the ones they may have seen somewhere else…
Or how your own last longer. Give proof of what you are talking about.
That’s all… Reinforce and expand on the benefits of your products…talk about a CRAZY OFFER YOUR COMPETITORS MAY NOT BE OFFERING.
This is what you can say:
Prospect: Your product is more expensive than other ones I have seen
Sales rep: OK. Can I know what you are comparing the product to?
Prospect: [Competitor A]
Sales rep: Yes, they do offer the same solution at a lower price but the product lacks [X, Y, Z features] that you currently require for solving[issue].
Ours is ten times stronger and lasts longer.
Besides you can read their customer reviews on [reviewing site]. They had problems in
The same sites have reviews about our product too, so you can go through them. Take your time and read various reviews before coming to any conclusion. Let me know when I can call you back to discuss the same.
So you see, Price objection is not a hopeless situation. You can handle the situation well and close the sales easily just following everything you read here.
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