Price objections can be divided into three classes:
1. Those which the customer does not object from the point of view of value but instead that the prices are higher than they can afford to pay. These customers desire a cheaper grade of products.
2. Those which are made solely for the sake of argument. Many customers think it is their duty to make many objections in the course of buying, and their most frequent objections are to price.
3. Those objections which are made with all sincerity. The customers object because they sincerely believe that the price is too high for the product. They are sincere in their objection, and believe in what they are saying.
When an objection is made to price, you must be able to tell to which class it belongs.
If your product is too expensive, you have to be able to read this, and to judge what the customer is able and/or willing to pay.
The next time you hear price objections from your prospects, try to understand to which class the objection belongs and then handle it correspondingly.
Interested in receiving more sales training tips? Check our the web seminar recap from this week’s free web seminar Strategies for Sales Professionals. This one-hour web seminar covered the 5 attributes of highly successful sales professionals, managing price expectations/price objections, and understanding your potential buyers (and their roles).