Overcome The Price Objection
One of the most frequent questions I receive from entrepreneurs is; “How do I overcome the price objection from my prospects?” The age old battle between most entrepreneurs and potential customers typically begins and ends with that one awesome word. “Price”. All my years in sales, one of the largest mindset hurdles I have had to overcome is the belief that “price” makes the difference in the sale or lack there of. People will ask me; “Ryan, what's your best price objection?”. I usually respond with; “The best price of objection is to have good posture/energy and to paint a CLEAR picture that YOU can solve their problem.
The First Bomb Is VALUE
One thing I had to understand, was that the biggest factor in making sales is VALUE. At the end of the day, I knew the one thing my customer was not getting if they shopped somewhere else was ME. Know that if the price gets too cheap, people won't see any value in the product. Additionally, if price alone were the reason people buy, then the company wouldn't really need salespeople and that would be a problem for twenty-five percent of the population. I want you to start seeing the VALUE, not only in your product(s). But most importantly I want you to start seeing the VALUE in yourself. The VALUE in your skill set, your knowledge, your expertise, etc.
When the VALUE has been established in your mind, then it will allow us to plant the VALUE seed in the minds of others. Too often salespeople are looking to sell a product or service that they themselves do NOT believe in yet. Waking up every morning, the first person you should sell is YOU. Most people just have NO clue what they want to accomplish. If you struggle with consistency and your daily routine. CLICK HERE for step by step guide to consistency and money making activities
“If the seller is head over heals in love with the product and can't live without it, more than likely he can create the BELIEF for the buyer to be head over heels in love as well. Most will buy regardless of price, assuming he can find the money to pay for it. If the seller/buyer has full confidence that the product will solve his problems and get him a real solution, sales will be made at almost any price. Some trainings focus on the price objections rebuttals. Rebuttal suggest that we do not agree with our prospects. We want to practice the Law of Agreement with our customers. In today's vlog video you'll learn the price objection handling strategies that will help get you results.
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5 Suggestions on How To Handle Price Objection:
- Understand if the price objection from your prospect is legit or an an excuse while also having a clear understanding of what your prospects are thinking
- Create a list of your prospect's problems (At least 3)
- Get the prospects Shopping with you, not negotiating with you
- Mange your energy and control your posture
- Go UP on the price, rather than go down on your price. Exhaust your inventory, rather than exhaust price
Ryan Mcmorris’ Personal Branding Blog
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