How to Overcome Customer Objections to Price...

The goal isn't to negotiate on your price. Here are some other effective ways to overcome objections to your prices without slashing profits.

Potential customer's will often ask you to lower your price. While it isn't a cardinal sin to do so, no business owner wants to do it. After all, who wants to intentionally cut into their own profit margins?

Most of the time when "price" keep customers from buying, its the salesperson's fault (i.e.- yours and mine)!

The reason we can place the blame (most of the time, not all of the time) on the business owner or salesperson is because when customers refuse to buy due to price it is often a direct reflection of our failure to communicate the maximum amount of value the customer will receive from our product or service- which should exceed the cost of the product or service.

Watch this short video to discover how you can "Make The Money Argument" in your business and close more sales!

What do YOU think is the best way to overcome "price objection?"
COMMENT BELOW!

Comments
No. 1-2
BrianF
BrianF

@JoshuaRichards Absolutely! Every person a business owner is trying to sell to has a desired end result in mind. When you can show them how you can easily get that for them, while reducing the risk as much as possible, they're a LOT more likely to buy from you. One of the bigger challenges is actually know WHAT they actually want (sometimes even the customer doesn't know how to say it). For example, a college guy might say he "wants a red sports car." But what he "usually" really wants is validation from his peers, a feeling of prominence, and for girls to notice him (but he won't tell you that because sometimes he doesn't even realize that's his true desire!). The car was the desire, it was the means by which he could attain the actual desire.

JoshuaRichards
JoshuaRichards

Great point about the money argument. I think that you have to guide your customer or prospect to think in investment terms. If they have good reason to expect a return much bigger than they are paying out then the price shouldn't really be a problem. Show them that break-even point, like you said. How many new customers would they need to pay back the initial investment? Also, by helping them clarify their ideal customer you are saving them so much money because they will get a much lower return on marketing to the wrong people or just broadcasting it out there to everyone.