Lee Salz, who runs a sales consulting firm called Sales Dodo, has a great piece of advice for sales professionals who need to slay the #1 dragon in the world of selling: The Price Objection.
The secret to getting over it? Simple, says Salz:
Some other price concerns center on whether or not prospects can financially afford the product. A good salesperson helps prospects recognize the options available to them for financing the purchase.
In other scenarios, the prospect has seen the same product, or a similar one, at a lower price. The human mind tries to make everything into an easy to understand commodity. When I worked in employment background screening, prospects would compare a $9.95 database search with a comprehensive courthouse search. The comparison of the two was apples and oranges. The strong salespeople were able to explain the difference in a way that led prospects to see that they needed the comprehensive search. The $9.95 search can be perceived as very expensive since you rarely catch any bad guys with it.
The worst case is when the salesperson does not believe that hisproduct is worth its price tag. If this hits home for you, I highly encourage you to look to be somewhere else. If you don't believe in your price, I guarantee you that no one else will either. If you believe that all sales ultimately come down to price, help me to understand this:
-- Why doesn't everyone buy generic drugs?
-- Why do people buy bottled water when they can get it for free from the tap?
-- Why doesn't everyone drive a Yugo?
-- Why are people buying satellite radio when there are plenty of good stations available for free?
-- How come most people have cable or satellite television when they can get a dozen stations for free?
-- Why isn't everyone shaving with a single-blade disposable razor?
-- Why isn't everyone drinking generic coffee?
-- Why isn't everyone fighting to sit in the last row at the ballgame?
-- Why do people even go to a ballgame when they can watch it comfortably for free in their living room?
-- How did your company get any clients at all?
I think you get my point. Thus, you really do believe that people will pay more if they feel the purchase is worth the price. Maybe you can't afford the product you are selling. That is a completely different issue. There is a great expression that goes along with that. "Don't spend the prospect's money." You don't belong in their shoes, so don't put yourself there. You never truly know a person's financial situation.
Look, no one wants to get ripped off. And everyone wants to brag that they got a good deal. So, if you can master the facilitation of the discussion around the pricing concern, you will inherently have more sales.
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