Dealing Successfully With Price Objections

Few people really enjoy negotiation.

Most prefer discussing issues before the negotiation or implementing solutions after a successful outcome. Ending the pricing conversation often feels like a relief.

The discomfort increases when clients dispute the price. We all encounter five common objections, so it’s wise to prepare for them. Successfully addressing these objections can be the final step before securing the business. Most clients test the price at least once:

1. “We need to think it over”
2.  “Now is not the ideal time; we need to do [xyz] first”
3. “It’s too expensive; we don’t have a budget for that”
4.  “It needs to be approved by someone else”
5. “We have other suppliers to see”

Start by listening to their objections. Ask questions like, “Apart from the timing, is there anything else that concerns you?” Take your time instead of rushing to answer their points, as rushing can appear desperate. Focus on what they liked. If their objections are overwhelming, consider walking away.

Next, address their concerns with empathy. You don’t have to agree, but you can acknowledge their perspective. For example:
“Many businesses share concerns about the size of the investment. However, they often discover that the benefits outweigh the cost in practice.”

From here, tackle specific objections. Let’s consider the common “We need to think it over.” This can be frustrating, but it often stems from fear of making the wrong decision.

Many managers fear poor decisions more than letting bad situations continue. For analytical clients, your goal is to get invited into their decision-making process. Build trust and avoid being too pushy, so they involve you and others to minimise their perceived risks.

Here are some ways to respond:

• “Sure, you need to think it over. Nobody invests this sum on the spur of the moment. When you take a preliminary look at the pluses and minuses, what do you see?”
• “Who else will you involve in the thinking? Should we have a meeting so that everyone can share the responsibility for the decision?”
• “Will you still be using the criteria we established at the outset? (Recap them here). Is there any new criteria to be taken into account?”
• “In the light of the €xxx per week benefits (agreed earlier), what is a reasonable timeframe in which to make the decision?”  (More on this next time, when we discuss timing objections.)

Remember, never start a relationship by quoting a fee before understanding the value you’re delivering. Clients may push for a price, but resist answering until you’ve explored their needs. For example, respond with:
“I don’t know yet—it could range from €500 to €50,000, depending on what’s required. Can we discuss that first?”

Finally, view objections as opportunities. Often, they signal genuine interest in buying. At the very least, they give you a chance to refine your consulting skills and address clients’ concerns effectively.