GoVisits Web Directory » News Articles » Sales Information » How to Eliminate Objections to Price
 

How to Eliminate Objections to Price

Have you ever stepped your way through the sales process only to be disappointed by your prospect's objection to your price?

This situation unfolds all too regularly for many small business owners.

The other day I was talking to Joan who was lamenting how she'd spent a ton of time developing a relationship with a new prospect, but in the end wasn't able to make the sale. Over the course of six sales meetings her prospect seemed like a slam dunk. He was very enthusiastic about her product (inventory control software for the food service industry), he hadn't seen a similar product on the market (Joan's software has a unique and easy to use interface) and he and Joan seemed to have a great rapport (they both are avid snow boarders and each loves jazz) . But when it came time for Joan to ask for the business the answer was 'no'. Her hot prospect was cool on her price.

Where did Joan go wrong? She was quite befuddled with her collapsed deal and wanted to know what she could do to prevent such future failings. Not only did she not get the business, she ended up wasting her valuable time which could have been better spent developing a lead that turned into a sale.

Does this sound familiar? Have you ever spent time developing a great lead only to have the deal fall apart because your prospect objects to your price?

If so, you may have made the same common sales mistake Joan made: she tried to make the sale without having enough information to make her prospect the right offer, despite her six positive sales meetings.

What Joan neglected to do was to ask her prospect about his accounting needs with respect to inventory control. Unfortunately for Joan, she learned this important fact only after our conversation when she called her prospect back to find out where she went wrong. Her prospect had already decided to use the software of one of her competitors. Even though Joan's software features a nice accounting package, her offer included nothing with respect to accounting. Her prospect assumed that her software didn't feature the accounting functionality he required because Joan didn't mention it. She talked a lot about the software's innovative, easy to use interface and its great database functionality but she never mentioned the accounting features because her prospect didn't ask. Her price would have been fine if her prospect had known about the accounting capability of her software!

During your sales process be sure to ask all the questions you need answered to understand your prospect's needs. You can then use the information you've acquired to shape your pitch around exactly what is going to solve your prospect's problems.

Before you tell your prospect your price make sure the time is right by asking questions like:

· Does this sound helpful?

· Is there anything I haven't mentioned that would be helpful?

· What do you like best about our competition's product or service?

By obtaining answers to these questions you will be able to gauge whether or not you have enough information to make an offer that your prospect would be ill-advised to decline.

If you don't have enough information go back for more; schedule another meeting and then go through another probing round of questions.

If you do have enough information, make your prospect the best offer they've ever heard. If you've done enough homework you'll make the sale.

 

Sales articles

  1. How Can a White Paper Support Sales and Marketing?

    A white paper supports PR, marketing and sales because it works for all levels of decision makers. Engineers and executives may not be too impressed by brochures, but they are impressed by well-written white papers. (The same thing goes for trade jou... more to this article

    Article category: Sales Information

  2. Dress as Though You Mean Business

    Could casual Friday be undermining your leadership ability?One of the cool things about working in a home office is that you can do business in torn jeans and a T-shirt because no one sees you but the dog. And Sparky believes in you no matter ... more to this article

    Article category: Sales Information

  3. How To Set Goals and Achieve Them

    We use only 5% of God's given potential, 95% of them is not used. Why not tap the 95% of our Creative Intelligence and achieve our desired goals. Our goals are limitless because of our creative imagination. You have to commit to your goals. If you do... more to this article

    Article category: Sales Information

  4. Listen! How to Sell More by Listening More!

    In my opinion, one of the biggest skills of being able to sell well is developing your listening skills. Most sales companies and sales people talk about being consultative but they don't really know what consulting is! No-one can consult if they can... more to this article

    Article category: Sales Information

  5. How To Get Face To Face Over The Phone

    One disadvantage of selling by telephone is the lack of face to face contact.When you are sitting with a prospect it is much easier to read there body language. You can see the look on their face when they are confused about something you said... more to this article

    Article category: Sales Information

How to Eliminate Objections to Price information

Article categories

Leave a Better Voice Mail Message

Yesterday I received a call from a financial planner named R...

Sales Information

2 ½ Steps to Sales Success

You have just walked out of the office of a potential new ma...

Sales Information

Use Pain To Get Commitments

Whenever I speak with new salesreps and entrepreneurs, I hea...

Sales Information

What Do Mobile Auto Detailers Clean When it Rains?

A mobile auto detailer and their profits are tied to the wea...

Sales Information

Consumer Effort And The Purchase Decision

It is a basic tenet of behavioral psychology that people eng...

Sales Information

Future Business Key Element In Sales

A challenge facing many businesses is how to maintain a cons...

Sales Information

Restaurant Pressure Washing

Many pressure washing companies try to stay away from the re...

Sales Information

Selling Strategy - 5 Ways To Success

Web sites exist for essentially two purposes. The first is t...

Sales Information

The Hands On Approach

While living in the technology age where everything is compu...

Sales Information

Sex Sells!

An attractive woman has a decided advantage as sales represe...

Sales Information

7 Pitfalls of Using Email to Sell

* Are you sending e-mails to prospects instead of calling th...

Sales Information

Whats So Special About You? Defining Your USP

Your prospect is in the market for a widget, just like the o...

Sales Information

Clear Up Blurry Communication

One of the top brewing companies in America is a consulting ...

Sales Information

Breaking the Ice and Winning Over the Client

Wherever you turn these days you'll find articles covering e...

Sales Information

Make Your Trade Show Booth Popular

So, you are taking your products and heading to a trade show...

Sales Information

The Power of Thank-You

When was the last time you thanked your customers?Thi...

Sales Information