🔊 How much do you cost? – Sales objections part II 🔊
Following on from the last sales objection video. One of my networks asked me what is the best way to tackle the ‘How much do you cost’ question?
So the scenario usually centres around a stakeholder interrupting you while you are learning about the prospect’s pain points.
What you do next will determine how the potential order will go and how it’s operated! Them asking that question can turn into a potentially great conversation. Or into one where they will focus on your cost and look to beat you down on it. And that’s not just before the project, quite often during too if you take it on.
This is another subtle sales objection that can ruin a great conversation
⛔️And it rarely ends well
Again, this is a sales objection I get a lot, and still get.
Always remember that the goal is always to focus on getting the Win-Win. That is always about balancing the power of the conversation.
✅It took some practice and confidence for me to get over this one
You often hear me talk about feedback, well this is a great opportunity to get really good feedback.
💥Very quickly you learn what they are interested in and you can turn this into a qualifying process
See my service is always about offering value, and that is above and beyond It’s never about price. If a prospect is interested in only price, I’m not interested! So this is an opportunity for me to be able to qualify the prospect at an early stage without going too far wasting time and money.
When I challenge the question, it’s a challenge to qualify to see is it actually a price-based project or is it just to take some power. More often than not, it’s possible to lead the conversation to a value-based proposition! If it is a price point issue, then it’s time to walk away and I make that clear.
As I stated earlier, this sales objection was a tough one for me to work on, it takes practise and confidence.
✅And once you master it you will see great improvements
Sales are always about learning, looking at what is preventing you from getting to the next step in the funnel/process. And what you need to do to overcome these hurdles.
Never see anything as a roadblock..i.e. Something that stops you from moving forward
✅It’s a hurdle to work on and jump over.
Sometimes there is a bit of creative effort required this again is why I believe sales to be a difficult process. It’s not as linear as many other processes and the funnel needs constant attention. To ensure you can handle and are prepared for all the sales objections you come across.
This process has also helped me not take on projects which I did in the past. Projects that became difficult to manage with difficult customers. This was certainly not the Win-Win and this mechanism of handling sales objections saved me from these situations!