Another Way of Handling Price Objections


When presented with a response such as, "I can't afford this" or "I don't have any money" there are a number of rebuttals that you can utilize to overcome this objection. The most common rebuttal for an objection of this nature is to reply:

"That's fine. We don't need a payment today. I can take your credit card number and we can begin making monthly deductions during our next billing cycle."

This objection is an accurate representation of the facts, even if the billing cycle begins immediately and the person's credit card is charged that day. Credit cards are billed monthly so the person being billed wouldn't have to pay upfront. Rather, they would pay when they received their bill.

A more daring, but entirely applicable response may be, "How can you afford NOT to"? The technique behind this rebuttal is to provide a rationale for making the purchase that outweighs the cost of the product or service you're selling. Whether the potential client is aware of it or not, in the moment you make your pitch or offer your proposal, they are making a cost/benefit analysis. Often this evaluation is made in a fraction of a second. Your job is to persuade the buyer that the benefit outweighs the cost. Know your product. Believe in it. And then present the facts about what you're selling in such a way as to make the thing you're selling a necessity.

If the customer can be made to understand that what you're selling is indispensable AND is of a higher value than what it is being sold for, you will find yourself closing more sales. It's also important to recognize that "value" does not necessarily mean "money". The product or service costs money, true, but what you're really selling is something else -- security, beauty, an investment in the future. Sell your potential client on the psychological or emotion value of the item they are purchasing.

Finally, a more detailed, but highly effective technique is to relate the cost of the sale to a superfluous, but common expense that a potential client may incur on a regular basis. For example, if the cost of your sale is $30.00 a month, you might reply, "Sir/Madam, by making a minor adjustment in your living expenses you can easily afford our (service, product, etc.) without spending a single dime outside of your monthly budget. The cost is only $30.00 a month. That's no more than a cup of coffee. I'm sure you would be willing to sacrifice your morning cup of coffee at Starbucks for the sake of security in your life (here sell the person on the underlying value of the product or service)."

The challenge here is to relate the cost of the sale to something your potential client considers unnecessary. This will vary from person to person and requires a bit of creativity on your part. If the potential client is in their twenties, you might use coffee, CD's or eating out to justify the cost of the service. Older clients may respond better to the cost of newspapers or social events, such as golfing.

In closing, you want to leave your target with the impression that the product or service is affordable; that the cost will be transparent with an adjustment to their spending habits and that the service is something that they can't afford not to use. Everyone wants something for nothing. Your task is to convince the client that they will be disadvantaged without your sale and that your sale is something that is well within their financial grasp.
Alen Mayer
ABOUT THE AUTHOR
Alen Mayer> website | all articles
Alen Mayer helps sales leaders enlarge their sales circles and tap into their team members' individual strengths to increase sales results. He works closely with companies to create a tailor-made, irresistible language for introverted clients.

Whether you need to sharpen cold-calling techniques or sales strategies, Alen will improve your business. Please visit his website at www.AlenMayer.com or call 647-427-1588 for more information about his powerful sales training seminars, in-house workshops, and speaking engagements.

Salespeople aren't born. They're made. I make them.

I live, eat and breath sales and combine over 20 years of experience in international sales and business development with the persuasion, psychology and magic of NLP; by attending my training you're sure to enjoy your time receiving the most advanced sales knowledge available!

I am a newly appointed President of the Sales Association Ontario Chapter and President of the International Association of NLP Sales Professionals; one of the Top 25 Sales Influencers for 2012, published author of 4 sales titles, Certified NLP Trainer, Licensed Business Success Coach, and Certified Sales Professional.

I WILL SHOW YOU HOW TO:

Connect with your clients instantly and build deep rapport
Speak the language of your client's mind
Detect the patterns your customers use to make decisions
Discover your prospect's buying strategy in minutes
Persuade on both conscious and unconscious levels
Identify the difference between an excuse and real objection
Turn objections into approval
Get your prospects to close themselves.
INVITE ME TO TEACH:

How to sell to introverts/How to sell as an introvert
The secrets of connecting with your clients instantly and establishing rapport
How to use EEE™ Representational System to speak the language of your client's mind
How to detect the six patterns your customers use to make decisions
How to uncover more needs, wants and desires by properly using Pull, Don't Push™ principle
How to use embedded commands in your presentation to influence your clients
I have inspired audiences across North America and Europe. Whether a business conference, association meeting, or other event, every aspect is planned and coordinated to maximize attendee value. As keynote speaker, I achieve your objectives.

Need a speaker for your group on advanced selling skills? Call me at (647) 427-1588.
  • /_ckcommon/images/blanks/userPicture.jpgDan Morse12/1/2013 5:24:04 PM
    Sales is uncovering the propositon value for the understanding and benefit of the prospect.. If the prospect sees the value, they will not need to be overcome. If I have to overcome, I might as well just call it robbery. Yours is the traditional view of competing with the prospect. Mine is the new age view that if it's good they will buy it. If I make it as a human I don't care if I make it as a salesperson.

  • /_ckcommon/images/blanks/userPictureMale.jpgDarrell Baldwin12/27/2014 3:34:06 PM
    I appreciate your insight! I hope this article can help me become a better salesperson. Not just for myself though, but for the customers, the organization and for the community as a whole.

  • /data/userPictures/959514EE-95E6-4BAE-BA91-9FBDE2162E53.jpgEdward McAlexander, CPSP12/12/2016 9:34:10 PM
    Great article