Price objections can be one of the biggest challenges for salespeople. And for this reason, you’ll probably find it helpful to spend some time trying to improve the way you respond to price objections and how you can reduce the number of price objections you get by the way you direct your sales conversations.
The first step in reducing the number of price objections you get is to track the number of price objections you get in a day/week.
Then think back to specific price objections you got. Reflect on which products the price objections were for and see if there is a pattern. Think about the conversations when you got the price objections and discover if there is something you said about a product that may have triggered the client’s price objection.
Once you’ve discovered the patterns for the price objections you are experiencing, take some time to write out alternative ways to respond or be proactive to those patterns.
Once you identify the patterns that contribute to clients’ price objections, you can better plan to respond more effectively to those objections.
In the last couple of weeks, how often has a price objection prevented you from closing a sale?
What patterns do you notice about the price objections that you have gotten?