Dealing Successfully With Price Objections – Part 2

Most buyers will make at least one effort to test the price. (Don’t you?)

In part 1, we explored how handling price objections in sales can be welcomed as a buying signal. We also discussed the importance of being invited as a trusted partner in the decision-making process. This is especially crucial when we hear the words, “We need to think it over.”

In this feature, I want to turn to time objections: “Having thought it over, the general feeling is that now is not the right time. Perhaps you can give us a call in six months?” Ever heard that one before?

Loosely paraphrased, this means ‘Having worried about it since we last spoke, the prospect of making a decision looks scary. So we would prefer to put off any decision because that way we can’t make any mistakes. But we don’t want to close the door with you either, because who knows, you might come in useful someday.’

Let’s start with some understanding of this point of view. After all, the costs and the risks are usually theirs. These costs are also immediate and certain, while the benefits are future and (at best) probable. So their apprehension might be somewhat understandable.

Address objections early—turn client apprehension into confidence before indecision closes the door.

The key is to anticipate this objection before it arises. As it will surface in most client’s minds sooner or later, why not prompt it early on before indecision snaps the door shut… when you are not around to intervene?

“There is one question I always ask when we have agreed on the value of the work to be done, and this is it: Is now the right time?
 
In other words, is there anything happening over the next three months that might jeopardise the €Euro benefits we have been describing?”

By prompting the question yourself, you win trust. You can frame the question in the context of potential benefit lost, rather than cost incurred. Your willingness to deal openly which might (justifiably) postpone investment in your services, may be the very factor that wins respect… and the business.