I wish I had a dollar for every salesperson who told me the biggest objection he or she gets is “price.” Price is a complex objection that deals with subheadings like real need, affordability, hidden agendas, value, prospect perception, and communication by the salesperson.
Sticker shock. There’s a reason people came up with this phrase. When they seen an initial price for a product or service that’s higher than they expect, they experience brain freeze.
The dominant search engine, Google, is constantly being updated. If you stay current with the updates, you can make sure clients’ websites score a higher position on the all-important search engine results page.
The buyer is asking for price information before the needs assessment, before the solution has been crafted, and before value has been established.
Thanks to the prevalence of discounting, most reps will encounter price objections from prospects. But, just because your competitors are slashing prices, it doesn’t mean that you should. While discounting certainly has its place in the industry, it shouldn’t be your knee-jerk reaction.
Reps who are thoroughly educated in their pricing structure will have a better understanding of why something is priced a certain way. This understanding will give them the confidence to stand by the cost.
In your sales calls, where does talk of price generally pop up? If you discuss it intermittently, you should consider adjusting your strategy.
It doesn’t matter what you sell, where you sell, or to whom you sell, buyers all just have one question that needs to be answered, according to Lee Salz, contributing writer for BizJournals.
What should you do when your prospect starts objecting to your price? Writing for SellingPower, Steve Atlas has a few suggestions.
If you’re new to sales, you might be focusing on the price of your product or service. The problem is, talking too much about price in your early conversations might stall your sales progress. Check out Will Brooks' recommendations on how to avoid this problem.
Does any single P out of the 4Ps of marketing carry more weight than the others? Considering product, price, place and promotion, retailers these days are likely tempted to point to price as the differentiating factor in making a sale. New research from GroupM Next shows exactly how important price has become.
Price trumps sales and special deals, customer service, and convenience as a factor in deciding where to shop for the majority of U.S. consumers, according to new research from The NPD Group. 85% of U.S. consumers say that price will be an extremely important/important factor in deciding where to shop in the near future, ten percent more than those who feel sales and special deals are extremely important/important.