Having trouble dealing with sales price objections and answers?

What do you do when your job is to get sales over the phone and the consumer has a price issue? Learning different strategies for responding to sales price objections and answers will help you save money on calls in the long run. Here are ideas for sales agents on how to respond to price objections on the phone.

When the price becomes relevant to the discussion

Successful sales agents often mention pricing at the beginning and end of sales calls. By stating the price at the beginning, it makes a forecast for the prospects. Paraphrasing the price near the end of the conversation confirms the price.

Know that sales price objections are common during sales calls and that “no” does not necessarily mean “never.” But at the same time, you will need to handle sales price objections and their answers in a diplomatic rather than aggressive manner. It’s a chance to find out what a potential customer considers a deal breaker, information that may come in handy later when improving the product.

Consider asking up to three questions about pricing to find out how expensive the main issue is. Be prepared to respond to any answer in a positive way. If pricing turns out to be the primary objection, say something that lets them know you care about their feelings, such as, “I understand, other people have told me similar things.”

There are ways to overcome price objections while maintaining a calm demeanor. But you don’t want to spend a lot of time with the same potential customer if they keep giving you negative signals.

It is best to record sales price objections and answers to determine the potential customer’s level of interest. You may learn from the conversation that the potential customer has objections that have nothing to do with price. The more you know about a potential customer, the more accurately you can categorize them as “hot,” “warm,” or cold lead.

The importance of handling objections appropriately

One of the reasons why many people don’t answer their phones right away anymore is because they are tired of telemarketing calls. Most consumers know what it’s like to receive call after call from strangers trying to sell products and services. Perhaps the most annoying part is when the caller fails to hear the reasons why the product may be rejected by the producer.

Many consumers want to hear their opinions because they understand that constructive feedback helps companies craft better products. It is important as a salesperson to customize solutions to each individual’s sales price objections. The concept of “one size fits all” marketing simply does not work in an age where consumers can easily research their own products online.

Dealing with sales price objections in a professional manner is critical in business-to-business relationships. In any kind of strategy to get potential customers to respond to your messages, you have to put yourself in the shoes of the recipient. People like to be treated as people rather than stats, which is why lead research is moving toward more personalized messages.

Ideally, the objection-handling technique leads the consumer to a different conclusion and a new understanding of the product. An effective bonding process for dealing with objections is Listening, Recognizing, Exploring and Responding (LAER). Some sales require an individual to qualify, which includes responding to the information they provide.

Why are prospects objecting to prices?

Realize that people have different reasons for saying “not interested” in a product offered over the phone. Here are some of the most common hidden reasons people object to unwanted sales calls:

1. They do not have the funds to make a purchase
2. They may want the product but they want a discount
3. They simply don’t like the product
4. They had a bad experience with the company or brand
5. They don’t like your voice or your presentation

Develop objections

The key to getting past sales price objections is to provide tailored responses to specific reasons prospects object to price. You can write a script for yourself or other sales agents based on rebuttals designed to downplay the objections. Using appropriate delegations can lead the prospect to at least think about the product.

Letting a potential customer know that there are good reasons behind specific pricing is key in overcoming price objections. Be prepared to share a case study that explains how the product helped people who initially thought they didn’t need it.

Make sure that your rebuttals completely avoid the condescending remarks that the possibility is out of reach of trends. This may have been a tactic that worked in the hard selling era of the last century, but it’s considered outdated now.

Steps to Overcoming Price Objections

Instead of responding emotionally to an objection, take a measured approach that maintains a calm and friendly discussion. Don’t take rejection personal. Follow these steps without resorting to extreme sales pressure:

1. Allow the possibility to complete their thought
2. pause for a few seconds
3. Ask a potential customer a simple question
4. When the prospect has finished speaking, ask a follow-up question
5. Let the potential customer know you understand by summarizing their situation
6. Ask for clarification if necessary
7. Provide information about product value and ROI that publicizes their concerns

By letting the prospect know that you are listening to their concerns, you have a better chance of having an intense conversation. Instead of trying to lock down the initiative, focus more on developing a relationship that can lead to future conversations. When you get to the heart of sales price objections, you may know that the person is simply not ready to buy “now,” but may be open to making a purchase in the future.

Helpful responses to price objections

You may not come up with solutions to sales price objections in one conversation, especially if it is a B2B relationship. Know when to get in and out of the sale so that it doesn’t seem like all you care about is selling. Consider the following responses for handling sales objections:

1. What does the price compare to?
2. Explain why you think the product is expensive
3. Is it just a product that doesn’t fit your budget?
4. Let’s look at ways you can make the product fit your budget
5. Is price the only issue you have with this product?
6. Let’s look at the value you can get from the product on a daily basis
7. Have you purchased this type of product before?
8. When was the last time you bought something based entirely on price?
9. I don’t want you to miss out on this deal

Salespeople are often more successful at dealing with sales objections when they focus on listening rather than speaking. Whether you’re calling or prospecting, you should think of each potential client as long-term. If you can’t close it today, you may have better luck later once the customer becomes more familiar with the product.

Sometimes silence is the best response to a price objection. Let the potential customer think about what they said and give them a chance to explain why they object.

conclusion

Finding the right solutions to objections to sales prices is part of the learning process for every potential customer. Remember that many consumers already have planned shopping lists based on their research on product reviews online. That’s why it’s so important to listen to feedback from previous customers using reputation monitoring software.

Maintaining a positive online reputation is one of the keys to overcoming sales objections. Ideally, each call adds to the post that informs the consumer and plants of the ideas in their minds for consideration in the future.