Objections - Part 4
Last time we discussed a few of the techniques that are necessary when helping a customer overcome their objections to a potential sale. Today we will conclude with the last three steps, including how to deal with the objection to price.
The fifth step is to review the following, Needs Assessment equals answers, so demonstrate those answers. By reviewing this, you will be able to convey to the customer that you completely understand exactly what the customer needed and wanted, and that you demonstrated to those needs and wants. The next step is to increase the value. This is the time to pull out your ace. It may be that your customer just needs a little added value before they say yes. Remember to always save what you believe to be the best feature of your product because this is where you would want to pull it out and close the deal.
The final, and always the final, step is to address the price. You can start by asking the prospect, “How do you feel about the price?” If the price is ok, then you need to increase the value. If the price is too high, then you need to determine if it is too high because of value or budget. A simple question that you can use to determine this:
“Is the price of this particular item too high, or is it more than you wanted to spend today?”
“Is the price of this particular item is too high,” will tell you if it is a question of value.
“Is it more than you wanted to spend today,” will tell you if it is a question of budget.
Again, if it is a question of value then it is time to add some value. You should always have some things in reserve that you can use to increase the value. If it is a question of budget, then they will most likely tell you that. You could lower the price, set up a payment plan of just simply added value until they cannot say no. Most people will go to great lengths, if they find enough value in a given product, to make the purchase.
Finally, just remember that objections are going to occur everyday with every customer. Your ability to deal with those objections and satisfy your customers will be a determining factor in how successful you will be.
FINAO - Brad Huisken - President, IAS Training
