It Costs Too Much
Let's take a moment today and explore our favorite push-back regarding any product or service that we might sell, "It costs too much!"
Every time I perform live technician sales and customer service training, I always ask the group what the number one objection they receive might be. Yes, it's always the same. The quickly fire back to me, price, price, price! Since I've been training a long time now and basically know this is the answer I'll receive, I'm well positioned to explore what they think a price objection might be.
Is it true that every time we get an objection that it's a price objection? Is it true that every time a potential customer says "the price is too high" that they actually mean it? As the coaches of selling technicians we must be able to smoke out the true objection so we know exactly what we're dealing with.
Objection vs. Condition
There's a lot of sales training around price conditioning and other strategies designed to define where your customer might be regarding your price point. I think price conditioning needs to be handled incredibly carefully and more often than not I see it backfire in the face of the up and coming strong selling technician.
What we must find out regarding objections and conditions is how our customer fits into our service company as a thrilled customer. When they tell us that a price is too high, we must find out if that statement is an objection or a condition.
An objection can be handled, educated, have value built to eventually overcome it in order to still make a sale and have a happy customer. This is a necessary part of the education process with clients and it's why I've been writing and speaking so much lately about the New Connection Economy. The better you create connection, build trust, and ask great questions, the better positioned you are to get any potential objections on the table ASAP.
I never want to wait until I'm at the presentation table before I know what objections a customer might have. What happens if the objection actually is a condition? This is where I see technicians go constantly and immediately even when it's not an actual condition. I can't stress enough that VERY SELDOM is a price push-back a condition, but if and when it is actually a condition, there's nothing we can do about it.
Let's say I'm selling Ferraris and a potential customer only has $20,000 to invest in a new car. This is a condition that I cannot overcome as an assistant buyer no matter what I do or how good I am. Nothing wrong with me, and nothing wrong with the client, but they must choose another product.
I can't take it personal, change my presentation, begin thinking nobody
can afford Ferraris, etc. I must do the best I can every single time.
Educate, build value, create trust, and ultimately offer many options
while asking for the sale. At the end of the day, all you can do is all
you can do, but make sure you're playing full out every opportunity you get
Check out this week's video version below, just click the picture! (and make fun of the look on my face)
Dedicated to your success,