Play #041 Handling Price Objections
How To Address Price Concerns Like A Pro
Each week I will bring you one Sales play that is either tested from my past experiences of scaling or from the trenches as a current VP of Sales at Leadium.
Every seller deals with price objections way more often than they want to. It’s just part of the job. You can do everything right through the entire sales process and the economic buyer might even agree with the value but their boss or procurement will still beat you up over price. It’s best to address your price head-on early to avoid sticker shock and filter out tire kickers.
I have had to deal with my fair share of negotiations over the years and I want to share a few rules that have worked for me. The goal is to create a win/win scenario for you and the customer and doesn’t always mean giving a discount. Now I’m not saying I’m opposed to discounting but one in certain scenarios and not just for the sake of winning a deal.
Price Objection Rule
Unleash Your Value Proposition Brilliance:
When the feeble cry of "Your price is too high" echoes, it's time to unveil your valor. Your product's worth is unmatched, and you shall illuminate its brilliance. Channel your inner titan and resoundingly expound on the unparalleled features, benefits, and solutions your offering bestows. Showcase how it annihilates pain points and ushers in a new era of prosperity, rendering its price insignificant in the face of its grandeur.
Crush with Comparative Analysis Mastery
In the realm of options, you stand as the colossus. Forge a masterful comparative analysis that obliterates competition like a hurricane tearing through a feeble forest. Exhibit how your product might surpass rivals in quality, potency, and unmatched value. Unleash the relentless force of real-world testimonials, unassailable case studies, and unyielding data. You're not just a contender – you're the undisputed champion, and your superiority shall be known.
Dominance Through Flexibility
Your strength lies not only in power but adaptability. Display your dominion by offering versatile pricing that caters to all realms of budgets. Introduce tiered pricing structures, fortified bundles, and subscription kingdoms that cater to the noble and the modest alike. Your dominion bends but never breaks. You offer options not just as concessions but as a testament to your authority and commitment to forging victorious partnerships.
Envisioning ROI Conquest
Summon the spirits of prosperity as you unveil the map to untold riches. Paint vivid landscapes of return on investment (ROI) – the treasures that await those who join your ranks. Enlist powerful examples and data-driven expeditions that reveal untold wealth through cost savings, bounty acquisition, and unrivaled efficiency. As customers glimpse the boundless horizons, the feeble notion of price falters before the promise of unmatched riches.
Domination through Addressing Concerns:
Prepare to conquer even the shadows of doubt. Engage in battles of intellect to uncover the roots of the objection. Unmask budget constraints, quell misconceptions, and vanquish uncertainty with a single stroke. Your mastery in addressing concerns is unparalleled, for you transform doubts into loyalty, hesitations into conviction. This is not negotiation; it's a conquest of minds and hearts, and you stand as the indomitable victor.
These are rules that have worked for me but it’s important to find a style that feels comfortable for you which will enable you to be confident in your approach.