Price is Everything?
If this were true, we would all be driving Hyundais, eating at Taco Bell, and Shopping at Wal-Mart (that's our second Wal-Mart reference in this issue), but the truth is that businesses and consumers alike are really seeking "value" not price. But if you are a professional salesperson, you might come to believe otherwise.
Pop Quiz: What's the most common objection? You guessed it-The Price Objection. The unfortunate part is you've heard it hundreds of times and you'll hear it thousands more.
The price objection is so common, so expected, it should never take you by surprise! You can't help but be prepared for it and know in advance how to overcome it. Next time you hear the all too familiar, "You're too expensive," try the following responses:
When you consider what you're paying for (increased approvals, decreased processing time, 24-hour friendly customer service) it isn't much at all.
How much did you think the service would be? Wasn't that before you knew all the benefits we offer? Don't you think those added benefits are worth the minor difference?
When you compare the minimal cost to the huge savings and decreased risk you'll realize, our figure isn't too high.
Who are you comparing us to? How are they able to offer that price? Are they skimping on customer service? We have 24-hour customer service. Are they skimping on equipment? We have the highest quality equipment.
Do you have a dollar figure of what it costs to not have our service? Not just the losses from the bad checks, but also the wasted time, countless phone calls, extra travel expenses, increased bank fees, limitless paper work, and inconvenient court dates?
You are obviously interested in superior service, which we provide. Isn't that worth a couple extra dollars a month?
Don't ever let the price objection sneak up on you. Always anticipate it and be ready to diffuse it. Preparation makes price a non-issue so you can focus on more important things-such as the close. Remember, if price is in the way, you didn't bring the prospect to an understanding of "Value."
