Overcoming Objections (Part II)

Let’s look at some at more ways of handling core objections. One of the most common objections is price. In other words, the prospect is not convinced that your product offers good enough value to justify the cost. Here are some strategies for addressing cost objections:

  • Re-focus the customer on value rather than price alone
  • Get the customer involved in determining the benefits they most desire.
  • Establish the value of those benefits
  • Explain that the purchase price is only one element of the total cost
  • Make the sale at a lower price.

When the customer says… “I can buy it for less at…”

  • Qualify the customer.
  • Be prepared to justify your price.
  • Establish the value of doing business with you.
  • Compare value and benefits.
  • Present another product that better suits the customer’s needs.

When the customer says... “Is this your best price?”

  • Say “Yes, we offer our best price to our best customers.”
  • If you start to drop price, you lose credibility.
  • Offer a price protection guarantee.