Your price is too high
to say when a prospect tells you this
No matter how
we try to play down 'price' when we are selling, it's often the factor that
is uppermost in your prospect's mind. How do you overcome the price objection?
Because, when we come to ask for the order, we frequently get the objection:
"Your price is too high".Before this stage is reached, we
can often try to reduce the emphasis on 'price' in the buyer's mind. Here's
three ways to do this:
only costs..." - using the word 'only' suggests that
the price of what you are selling is low compared with your competitors,
or all the benefits that you are offering.
on price differences rather than the actual price. Often the
apparent price differences between what you are selling and what your
competitors are charging are, in the buyer's mind, not all that great.
This is particularly true if you are selling a service. So keep stressing
the difference in price and all the benefits that the buyer will get:
"Yes, it's true that you will be paying 1,500 for my service, and you've
been offered nearly the same for 1,300. But let's think for a moment
what you will get for that extra 200.. "
smaller figures. If, for example, you are offering a training
course for five people for which you are quoting 2,000, it would be
equally true to present it in terms of "400 per person", which sounds
a lot more reasonable. Don't however, go to ridiculous extremes by breaking
it down into too many units (such as "that's 200 in the morning and
200 in the afternoon")!
OK, so you've
done that - but you still get the objection "Your price is too high".
Before you can answer that, you must ask more questions to find out exactly
what the prospect means. It could be one or more of the following:
Until you know
what lies behind the statement "Your price is too high", you can't start
to overcome this objection. Once you know the real reason, you'll either
find that making the sale (to this particular person) is impossible - or,
you'll be able to come up with winning answers.
- More expensive
than I thought
- I'm not
convinced of the value
- I haven't
got any money
- It's more
than I can authorise
- My job
is to beat salesmen down on price
- I really
don't want it
- I want
- It's outside
- I'm not
the person who decides
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