Thoughtful Thursdays – Don’t make “Yes” your reflex response to price objections
Today’s thought is a plea to sales people everywhere. Promise yourself that when your prospective customer raises a price objection, you will stop an consider your options before responding.
Unlike your knee jerking when the doctor taps the correct spot, you are in control when a price objection is raised and a positive response to that objection is not desirable. Positive meaning you agree and fold the tent by immediately lowering your price. Experience indicates that the majority of these objections are insincere and a test of how hungry you are for the sale and post transaction analysis shows that you have left some of your money on the table.
I tend to go on when the subject is about needlessly lowering price so I will keep this short and to the point.
One way to become adept at stopping and considering your options, is to be familiar with what they are. To know what the options are, know what you might be dealing with before jumping into the ring and anticipate how the conversation will unfold. Maintain your focus and keep your eye on the objective. Listen absorb, gain insights and find out why your prospect does not agree with you on the value of your products and/or services.
Indeed you may have missed something, but if you have prepared thoroughly it is less likely there will be miss-aligned expectations. When the prospect agrees with you on the value, there is no grounds for a price objection.
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