Is the Price Too High?
by Tony Durso
I think this has serious bearing on our economy. Is it all up to price? Or does quality count?
You be the judge. Here is an article from bestselling author, Tony Durso: The Black Book of Sales Secrets - Generate High Interest to Sell Anything.
The article is an interesting point of view and is reprinted here in full with approval of the author.
How do you handle the prospect's objection that the price is too high? Let's take this apart a little.
You have to identify the person's interest level first of all: Are you selling the type of product or service that the person is looking for, or are you trying to make the person buy something that is not wanted? I talk about this in the first chapter of my book, The Black Book of Sales Secrets (free download - first two chapters - see my blog page).
First scenario: The person is looking for something and is shopping to compare prices. OK. In this situation you need to involve the prospect in your product. Talk about your product and its many features. Enlighten the prospect on what your product does and can do for him or her. If there is another product that is being compared, then openly discuss what sets your product apart. The prospect will appreciate your helpfulness.
I discuss this thoroughly in my book, and provide drills on how to find and increase a prospect's interest level. Reading about it is one thing; doing the drills takes you to a whole new level. In a nutshell, when you run into the price objection, you need to focus on what your product does. Frankly, you should not even have to bring up the price of your product as you are not selling a price; you are selling a product or service.
The price does not really matter in my mind. What matters is that your product or service can help your prospect and solve some need or issue that was presented. That is what the focus should be upon. - Repeat: You are not selling a price. You are selling a product or service. There is no need to bring up price early on in the sales meeting.
The Black Book of Sales Secrets by Tony Durso
The second scenario is the introduction of something that the person does not know about. Example, a sales trainer may not know that my book contains all the basic ingredients for successful sales and marketing, and should be included in any salesman training. My book starts at the ground floor for anyone brand new to sales, and is ideal for people who want to improve their sales and marketing ability. The only way to let people know what's in the book, is to talk about what's in the book!
Here again, enlightenment and education on your product can help the person make an intelligent choice. Here again, price has nothing to do with it.
In summary: If you get into price objections too easily with your prospects, then change your pitch. You may not be educating the person sufficiently on your product from the get-go. Improve your product orientation to discuss more about your product - price should really not come up until the person says, "I'll take it - how much?"
Learn how to generate high interest to sell anything. Get The Black Book of Sales Secrets. Available everywhere, such as Amazon, or direct from my site with additional bonus material