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David Sidwell

How to prevent the price objection - Part 1

All buyers do it. In front of the mirror every morning, they practice saying “So...how much?” and then knotting their brows and sucking their teeth, saying “How much?!!!”. And you know when that happens to you, it’s all about price from then on, whatever you’re selling, they’ve got you on the run.

There are hundreds of sales techniques for handling objections, but they all make you sound evasive when it comes to price.

It’s far better to prevent the price objection, and drop in one or both of my all-purpose Price Objection Preventers. Let’s say you’re selling services...

Preventer #1: Set the bar really high.
In the middle of describing what your company does, and what the benefits are, just drop in how much more the big boys woud charge “...now to achieve that, you might well have to pay several grand a day with IBM or Accenture...” and don’t stop, just carry on with the benefits. They’ll invariably say “...so what do you charge then?” and you can honestly say, “...ooooh, a lot less than that, and the benefits are proven in organisations just like yours. Let me give you an example...”

You've primed them with a high figure, and they can hardly look shocked at your price.

Preventer #2: Ensure they’re comparing your cost with the real cost of doing it themselves.
Again, while you’re describing what you do and the benefits, just drop in “...now to achieve that using just your people alone would cost....er...how much?...". Yes, they’ll say “no it won’t my people are free, they’re already employed...” and then you can have an intelligent discussion about the real costs (and the opportunity costs) of them doing it themselves.

Both these preventers show you’re not afraid to talk money...but they give you the chance to talk about it in the way you want to, comparing it with other approaches to the problem, not just an absolute amount.

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