What do you say?
Most salespeople try to overcome this objection by saying things like this:
“I understand. In fact, I had two other customers just like you who were uneasy about the price at first. But what they found was … ”
“The best products are often more expensive.”
“It might seem expensive for one day, but let’s break it down by month/quarter.”
Responses like these destroy your credibility because prospects can smell your commission breath. They know you have a vested interest in talking them into buying.
The problem is the word “into”.
Talking people into things doesn’t work.
Try talking someone into changing their political view and they dig their heels in even deeper. It’s called the backfire effect.
What’s the way out?
Make a small 2mm mindset shift.
Downshift from 5th into neutral.
Let go of moving the sale forward.
When you slow down you can view objections as somethiing to understanding rather than something to overcome.
Remember your mantra:
“I’m not for everyone.”
Here’s what that might sound like.
“Your price is too high.”
Mirror (Chris Voss)
Salesperson: “I’m sorry too high?”
Prospect: “Yes, it’s out of our budget.”
SP: “Price aside, do you have other concerns?”
Prospect: “No, just the price.”
Label with a menu
SP: “It sounds like we’re more than you expected, more than other options you’re reviewing, or perhaps more than you’re currently paying.”
Prospect: “Yes, your competitors are 15% less.”
Calibrated question (Voss)
Salesperson: “Just out of curiosity, what’s prompting you to look at us?”
Prospect: “Well they don’t integrate with our e-commerce site so we’d need to import data manually.”
Surface the cost of doing nothing.
SP: “How much does not having integration cost?”
Prospect: “About 10 hours of engineering per month.”
SP: “How would it work during those times when engineering can’t get to it because of competing priorities?”
Prospect: “We’d need to bring on a freelancer.”
SP: “What do they run? $75/hr? $100/hr?
Prospect: “About $75”
SP: “Sounds like $750/month.”
Prospect: “Yeah, but engineering is usually available.”
SP: “Sounds like it makes sense for you to manually import the data.”
Prospect: “What we’d really like is a 15% discount.”
SP: “Thanks for considering us. How am I supposed to do that without reducing functionality?”
Prospect: “Just give us the premium version for 15% off.”
SP: “I’m sorry, that’s something I simply can’t do.”
Prospect: “Let me get back to you.”
Moving with objections not against them.
People can’t play tug-of-war if you’re not tugging.
The joy of selling happens when you realize you’re not for everyone.
Learn how to elegantly defuse objections in the comments.