Make Every Sale: How To Overcome Price Objections In Sales

Provide the price proudly and provide proof.

While it’s true that dogs can sense fear they don’t hold a candle to humans.

In fact, humans can sense uncertainty and doubt in a sales person faster than my seven kids can blow throw a gallon of milk.

When I want to stump a belligerent trainee I just ask him how much his gizmo product is. A salesman’s hesitancy to name the price of their offering when face-to-face with a prospect is the most damaging mistake that can be made.

Meet The Price Objection Head On

When it comes to how to overcome price objections in sales, the best thing to do is to meet it head on.

When the prospect asks,

“How much is it?“ 

…the next sound to slide smoothly from your lips needs to be a dollar figure.

“But, Wes, but, Wes. You just don’t get it. My business is DIFFERENT! I can’t do it that way. I need all sorts of information before I can give them a price.”

Shazbot! (That’s an Orkan word for “not.”)

“Oh really, Mr. Whisperino? What do you say to the prospect that asks, ‘How much is a laptop computer?”

Here’s how I’d reply

“$8,967.00 is the most I’ve ever heard of anyone paying for a Mac Book Pro with a 2.7GHz 12-core processor with 30MB of L3 cache, 64GB of memory, a 1TB PCIe-based flash storage, and dual AMD FirePro D700 GPUs with 6GB of GDDR5 VRAM each, but I can also get you an Acer Chromebook for $249.99 but I doubt you’re looking for either of those.

“A fantastic machine for the family—the kind that can handle a little wear and tear—runs between $700 and $1,200 depending on the unique combination of processor speed, hard drive size, memory, screen size and pre-loaded software.

“Some clients focus on the processor, others on storage, others on memory and some try to average them all out.

“Are you dead set on the processor, storage and memory, or are you open to some recommendations?”

Easy, peasy ain’t it?

Your goal in selling is to:

1. Put your client at ease.

2. Instill confidence.

3. Get them to focus on your message.

4. Make them think they are in control.

Delivering Your Response To The Price Objection

You do that by listening for your prospect to “pop the price question,” and then you stand tall, lean in towards the prospect a bit, smile just a tad, maybe tilt your head slightly to the right with your eyebrows raised, take a deep breath and let the whole price roll off your tongue.

Try reading aloud, in one continuous utterance, the paragraph above about the MacBook Pro and you’ll see why you need to take a breath.

You are going to deliver, without pause, your price and all of the whiz-bang features and goodies that are included at your great price.

Once a price is out in the open, your prospect’s anxiety will vanish. Furthermore, the longer your list of included features for the price you gave, the more your price is reduced in the mind of your prospect.

“‘Anxiety will vanish?’ Can you elaborate on that a bit, Mr. Whisperer?”

When a prospect has to ask how much your prices are it’s kinda like a business owner asking the IRS why they haven’t been audited in a while.

It just doesn’t feel right and it creates anxiety because a) it’s your job as the sales professional to provide the price and b) they feel it’s like waving a red cape in front of a bull, thereby inviting you to dig your heels in, lower your head, snort out some smoke and charge full speed ahead.

“Not me. I don’t push them around like that but it is important to list ALL of our features and benefits before before I give them a price.”

Ok. Let me ask you something.

When you’re toe-to-toe with a prospect that walks into your store and asks,

do you respond with,

“You’re a man after my own heart. Man do I love that truck. That dream machine was treated with tender-loving care.

“It’s a one-owner truck that was garage-kept, never towed anything and was only used by a little-old lady to transport her hand-made quilts to her church just 1.3 miles away once a week. “It has the proven and tested 7.3 liter diesel that isn’t made anymore, you know? It comes with a 30 day, 1,000 mile warranty…”

Sound familiar?

“Ah. Well. I guess.”

When you ignore, avoid, skip, or otherwise dance around a question—any direct question—but especially the price question like a politician—you might as well put cotton balls, ear muffs and duct tape over your prospect’s ears until you finally screw up the courage to give a price.

Eternity—e·ter·ni·ty—[ih-tur-ni-tee]:

The time between when your prospect asks your price and the time you provide it.

The more you delay and stall, the greater the likelihood your prospect will think,

I know what you’re thinking:

“Oh, yeah, Wes? That’s all fine and dandy and sounds good here in training but the internet is killing me.

“What about when a prospect knows everything? They come in armed with print outs and spreadsheets and they think they know exactly what make, model and features they want and need but they NEVER do but they think they do and they just bludgeon me with wanting to know my lowest price?

“I’ve been in this industry long enough to have lived through every nightmare scenario on the planet when it comes to delivering what my clients truly need, which is why we offer so many options and accessories standard with every purchase, which MORE THAN justifies our slightly higher prices.

“If I don’t get a chance to mention and describe all of those included bonuses I’ll just run my prospects away right into the waiting arms of that back-stabbing, conniving, manipulative punk of a ‘competitor’ across town, and I’d rather give my stuff away than give that jerk any more business!”

Understood.

Marie Curie said,

What is your most dreaded sales scenario?

What keeps you awake at night when it comes to selling and interacting with clients and prospects?

What question makes you throw Dry Erase pens, kick dogs and slam your computer mouse on the table?

You know how to respond now, right? It would sound something like this…

“Thirty-three thousand nine hundred and eighty eight dollars which includes at No extra charge:

• a full tank of gas,

• four Lloyd Premium Plush floor mats,

• a full size spare,

• four new Michelin tires,

• a one year, 14,000 mile bumper-to-bumper warranty,

• a free loaner car during any service work we ever perform on your truck,

• and 10 free oil changes all at no extra charge.

“By the way, I nearly forgot:

“…On the 6, 12, 18 and 24 month anniversary of your purchase we’ll perform our Presidential Deluxe detailing of your truck, which includes

• a hand wash,

• removal of all bugs and road tar from your vehicle,

• clean the wheels & wheel wells,

• dress tires & wheel wells,

• clay buff exterior,

• buff exterior paint to remove light surface scratches,

• and hand wax.

• On the interior we’ll vacuum completely,

• clean all cracks and crevices,

• detail dash, console & door panels,

• clean and condition the leather,

• clean the windows and steam the carpets and upholstery.

“There is a lot of interest in this truck. Would you like to put a deposit down to hold it for 24 hours until you can come in for a test drive or would you like to look at another vechicle?”

Now do you see what I mean when I say,

“The longer your list of included features for the price you gave, the more your price is reduced in the mind of your prospect”?

Simply inhale and name your number.

Make sure your differentiators are large enough to justify the breath and the price you just provided.

If you need more help growing your sales, check out the following resources scattered around this site and a few others I operate, such as:

• Make Every Sale

• Hire TheBest Keynote Speaker

• Infusionsoft Review

• HubSpot vs Infusionsoft

• Ontraport vs Infusionsoft