Overcome Price Objections

From Recruitment Specialist & Sales Development Expert, Alex Cole-Murphy

Don’t miss the 12th tip in our Top 20 Sales Tips for 2020 video series in which we discuss the importance of helping your prospects understand the value of your products and services by asking the right question, at the right time, and in the right way. Don’t cave on price!

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Video Transcript: 

When we get, what looks like a qualified buyer in the room, our job as salespeople is to negotiate. But negotiation often makes us think specifically of price. However, most of us are not in the game of selling the lowest-priced solution, with mediocre service. We are selling a quality product and our job as a negotiator is to help our prospects understand and believe in its ability.

If you are running into price objections, that suggests that you haven’t done enough to uncover the prospect’s real compelling reason to make a change or establish the value of working with you and your company. This is done through a process of asking the right question, at the right time and in the right way. And if we miss something or don’t have certain information we need to identify if they are really in a position to buy, we have to go back and drill down more. Otherwise, we can get into the game of quoting business which doesn’t help our potential buyer see the real benefit of choosing you.

It can be hard but don’t sell off of price or discount. Sometimes, and only sometimes, the decision really is based on a low price and it’s very difficult to win in those situations- especially depending on the business and market you are in. If you are selling a quality product, believe in the quality and don’t waver. Not every prospect is going to be a fit for your business and that’s okay. Go find more that do and don’t settle.