Pricing complaints are one of the most common objections sellers receive.
Have you ever heard of the famous Robin Leach quote, “Champagne wishes, caviar dreams”?
Everyone wants the newest, biggest, top-of-the-line product – they just don't want to pay the price!
Below are 3 tips on how you can maneuver your way through pricing complaints.
How to Deal with Pricing Complaints: 3 Methods
Let's jump in:
1. Demonstrate Value
If your product can help solve your prospect's problem in a timely fashion with exceptional service from start to finish, there's no reason for you to lower your price.
You will receive plenty of pushback, but it's best to stand your ground and prove your worth.
Many companies offer a 7-10 day free trial to potential prospects. Once they're hooked on the bait, they won't want to live without it.
The stronger the ROI, the less pushback you will receive.
2. Ask For Their Budget
Ask for your prospect's budget at the beginning of the sales cycle. Don't delay that discussion.
Keep in mind that although you might have already demonstrated your value and received the proper buy-in, 9 out of 10 times your prospect will still ask for a discount to close the deal.
It is very important to stay calm and composed, never dodge the subject and offer solutions to work around valid budget constraints.
If price is the only thing that is stopping them and they want to look elsewhere, let them. Stand firmly behind your products offerings.
3. Inform Returning Customers
It will take some extra convincing to explain to your returning customers why your product went up X amount in a few short years.
Don't panic. Explain the upgrades, new technology, and other features that have overall contributed to a better product.
Dealing with pricing complaints can seem daunting at first. But, if you know your product's value, and employ the methods above, I guarantee you'll be able to overcome those obstacles!
eBook – Handling Objections: The Art of Powerful Responses
Having the ability to overcome objections with strategic responses is a powerful skill that sets top performers apart from the pack.
A solid response to a challenging objection can establish credibility and authority on behalf of your company, increasing your chance of a successful close.
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