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The Price Question
Posted by Clayton Shold in Podcasts
The “price question” a.k.a. “price objection” can come up anytime and has always been an issue, but perhaps more so during the current challenging economy. Are you aware salespeople can actually create this objection unwittingly? Art Sobczak shares practical advice on how to avoid the price question, avoid negotiating on price and what you can do to effectively move away from the price questions should it come up.
Art Sobczak is the President of Business By Phone Inc. He specializes in one area only: working with business-to-business salespeople who make their living in sales … on the phone. Art provides real world, how-to ideas and techniques that help salespeople use the phone more effectively to prospect, sell, and service, without morale-killing “rejection.” He has written three books, developed world class training programs, and for the past 23 years has written and published a how-to tips newsletter.
Clayton Shold
Salesopedia
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Art’s response to handling the price objection is right on target. I think it’s important to “pre-qualify” the types of calls you may be getting in this scenario. For example, if it’s an inbound sales call and the first thing they ask for is “what’s the price” and the prospect doesn’t allow you to defer the price until after you have had the opportunity to ask them a few questions in order to make the best recommendation, then they are probably not a real buyer and have an alternative motive… many times it could be a competitor just shopping for price.
What I would like to point out is, if you get a “price” call and no matter what you do, they demand the price and then hang up on you after they have it, don’t beat yourself up over it. Just move on. Too often I’ve seen salespeople “crash” themselves into a slump because they were stuck on “loosing” that one call. Get mental tough, realize it is what it is and it’s part of the game and move on.
Must be my first time of writing a comment here. This podcast was really to the point just like Michael wrote up there. For blatant price shoppers I have set a special contents product – special in a way that it has just the bare bones if even that.
Usually this scenario plays out so that price shopper comes back with intelligent questions. Somebody else had seen time to educate them. At that time this lead is more willing to sit down and hear about the offer.
Would this work in every product, no. I sell log houses and the fact is that if the person is asking about the price it will still take about a year before the deal is closed.
Giving a general price up-front is always a gamble. I would say that Art is correct in his approach to avoid the price until more information about decision key points is out in the open.