Tuesday, March 3, 2009

Handling Price Objections

Our advertising solutions produce results in terms of phone rings, website visits, and in store traffic but how you handle the new customers determines if you get the new business.

Many times a customer will balk at your price ... saying, "Your price is too high."

You can attempt to justify your asking price of your product but many times that ends up in a lost customer.


For example, you sell a product whose asking price is $5,000. The customers cries, "Your price is too high."

You reply, "When you say our price is too high, that means ...?"

This will illicit information which is essential for you advancing your sale.

You may find out that your customer has priced a similiar product from one of your competitors and has a quote for $4,500.

Now instead of justifying a $5,000 sale, you are convincing your customer why your product is worth an additional $500.

The late sales trainer David Sandler popularized this strategy.

Try it the next time someone says, "Your price is too high."

Helping you tell your story and close more business.

Do you have any price objection strategies that have worked for your business? Leave a comment and share.

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