Overcome Price Objections – “Your Price Is Too High.”
Good morning. Mike Allison here.
Just want to do a quick video about how to overcome price objections.
Now, for those of, like me, who follow Keenan, you know that he did a really good video last week on showing why price is really not a legitimate issue.
And he used two bottles of water, a great big gallon, which cost, I believe it was...you know, two dollars and something, and then there was a one litre bottle of Fiji water, and it was like ten times the price.
And he made the point that, the reason people will grab the Fiji water, 1) is the name - branding - they think it's better, but all it is is filtered water, and secondly, the convenience.
So people will pay a lot more just for convenience.
Now, here's another suggestion for you to overcome price objection.
If someone really likes your product, you've made your presentation, perhaps you've had two or three meetings, they tell you how much they love your product and then they object to the price in the end, what do you do?
You just say, "Mr. Customer, I know that price is definitely an important part or the purchasing decision, but tell me, what is it that you love about our service or our product?"
And then get them to list off all the things they really like about your service, your solution and your product. Because what you're doing is, as they're listing those things off to you, they're reinforcing in their own minds WHY they LOVE your product so much.
They're actually selling themselves, and that's going to help you to completely eliminate the price objection. So, once they've listed off all the things they love about your product, service or solution, then I would just ask them...
..."well, that being the case, you said you like this, it's faster, easier to use, your people here in the office who've tried it absolutely love, why would price be an issue at all?"
And let them answer.
So that's just one way that you can overcome price objections, get your customer, once they've brought up that objection, acknowledge it, but then get them to list off all the things they love about your product, service or solution.
They're just reinforcing in their own mind why they love it so much, and price will not be an issue, or shouldn't be.
And of course, if that isn't enough, you can continue to dig a little deeper, because underneath that price objection is the REAL objection and you've got to find that.
Have a great day!
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