You’ve
had a great meeting, you’re really proud of the presentation you have given and
you are certain that your prospect/s are ready to buy, until you hear the
dreaded words “It’s too expensive!” or “Can you do something about the price?” Here
are four tips that, when applied, will help you overcome this hurdle in the
future:
1. Most
price objections are not price objections.
They are, in fact, value for money objections; your prospect just
doesn’t see the value. It is the responsibility of every professional sales
person to establish value for money in the minds of their prospects. When your prospects
are clear on the benefits they will receive when they choose your product or
service they will very rarely need to ask for a better price. Just for
clarification, if your prospect is not seeing the benefit, it may well be because
you have been selling the features of your product or service. A feature is
something your product does, a benefit is something your product does for your
customer.
2. Objections
are normally an indication that you have not created enough desire for change. In other words, you haven’t built up enough
pain in your prospects mind. People are unlikely to change if they are
currently comfortable with what they are doing or happy with their current
situation. In a sales situation we need to create a desire for change. The way
to do this is by asking great questions that will disturb their thinking about
their current situation. When your
prospects discomfort level is high enough, they will be motivated to find a
solution to remove their discomfort.
Once you are able to achieve this most objections will be removed. Inflicting pain may sound quite a drastic
measure to resort to, so let’s be clear; I am not suggesting that you torture
your prospects into submission and force them to buy your product. What I mean by this is that you make sure
that they are fully aware of the negatives, the disappointments, the torment
that they currently or could potentially suffer without your product. A good example of this might be a financial
planner. A very emotive picture might be
created that demonstrated to a client the pain that they and their family might
suffer if they were suddenly to lose their income. The notion of being without the money for
paying the bills, shopping for food, sacrificing family trips and holidays can be
discomforting to a prospect. This may
well motivate them towards purchasing the services of the financial planner or
the product that they are offering.
3. The
flip side of painting up a painful picture in your prospects mind is to paint
up the brighter future they will enjoy once they adopt your solution. People,
make decisions for emotional reasons then justify with logic, if there are any
married people reading this ask yourself the question did you make the decision
to get married emotionally or logically? To help your prospect make a decision
you need to have them step into the future with your solution and get them to
FEEL how much better their lives will be.
To return to the financial
planner, they can offer a future free from financial burdens and hardships,
where the client can be worry free and spend more time and money on the things
they enjoy in life, once they have adopted the offered solution.
4. You
must show them that the benefits they will enjoy far outweigh the £’s they will
pay. The solution to this lies in raising their awareness to the benefits and
not in reducing the price. In our own minds, when we are determining whether
something is of value to us, we tend to run through the following formula Value
= Benefits/Cost. In your prospects mind, cost will always be a 10 and if they
only see the benefits as a 6 they will be seeing poor value for money. What a
great deal of sales people do in this situation is renegotiate the price, not
realising there is a better way and that is to raise the value, because your
prospect will only consider making a purchase if the value for money is good.
So what you need to do is raise the perception of the benefits in your prospects
mind to at least a 10, above would be
even better and leave the price alone. Once you are able to do this you tip the
scales of perception to very good value for money.
So there
you have it four things you need to know to overcome any price objection please
feel free to take the ideas and use them.
Today, somebody will say “no” to
you. So, what are you going to do, to turn it into a “yes”? To discover ways you can to do this click here
Dedicated to your success
No comments:
Post a Comment