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How to Overcome Price Objections

Most people who are selling in their business want to know how to overcome price objections, or how to overcome objections in sales over the phone, or sales objections and rebuttals, or what are the “best” objection handling techniques and methods, and on and on…

…at the same time, I almost ASK for those things!

If you look online for the “secrets” or the “secret sauce” or “sales techniques” to find out how to overcome price objections, et al., are wasting your time.

Right now, you must be thinking, “Ummm… this is a complete 180 here where most ‘sales courses’ explain WHY you need all of the rebuttals, techniques, tricks-of-the-trade, and a lotta sneaky stuff to overcome price objections.”

Yep. It’s like that.

Right now, I have a STACK of cards in my desk with the rebuttals to the objections. A stack of them!

Are they helpful? Probably. But, most to the people who sell these things.

(This is why I don’t teach selling techniques in my course; I only teach closing the sale.) In closing the sale, it’s important to overcome the objections, but these techniques are a bit “old school”.

In my opinion.

Here are a few of the cards:

“I need to think about it.” — Ooh, a goodie.

When you hear “I need to think about it”, it really means, “I’m really afraid to do anything, and I’m going to stall you until I can get out of here, okay?!”

Here’s what the “courses” will tell you to do: You haven’t really “explained” it enough, and they don’t quite understand why they need to buy so you need to ‘splain it even more.

Right. You may as well try to change their politics, too, why don’t you?

When I had a smoker in front of me who needed my $1,000 Quit Smoking program (when I was in that business), many times, I would hear “think about it”.

I would sit back and smile and agree. I would never know what I would say and…

…let me interject into my own speaking here about this…

…if you have a SCRIPT for these things, the way those “courses” teach… they say THIS and then you say THAT and then they say THIS… and on and on and on… it’s just a lousy ping-pong game.

Scripts are great, but not here.

Okay, back to my original thought…

When I had a smoker in front of me who needed my $1,000 Quit Smoking program, many times, I would hear “I need to think about it”.

Where I would sit back and smile and agree. As I said, I would never know what I would say because everyone is different.

So, I’d agree, and say something like, “Right! Think about it,” and I’d look at their intake form and say, “Hmmm. Thirty years of smoking… and you still need to think about it,” and smile.

And — no kidding — they would ALWAYS laugh because they know what I’m saying.

I’d even joke about it, “Yes! I can only imagine that your wife will say, ‘Right, Joe, keep on smoking! $1,000 is way too much to spend on you, Sweetheart. Let’s go to the movies…”

Stupid, right?

But, that’s the point. I wanted to change to the “I need to think about it…” to “Man, yeah… this is just stupid. Okay, when can we start?”

No tricks. Just some talking. Like real people.

Here’s another card:

“It’s too expensive.”

I didn’t get this a lot. Why?

Because earlier, when I was explaining the program, I would foreshadow that it was expensive!

Many times, I would look at the intake sheet and it might say that she is smoking two packs a day. I’d calculate the cost, “Hmmm… $9 a pack, so that’s $18 a day…. that’s over $6,500 a year!”, I’d exclaimed.

“Do you also get snacks, a coffee or anything else?”, I would ask, where they might (usually!) say, “Yes. Many times,” where I’d do more calculating and — many times — we’d be near the $8,000 mark!

At that point, I’d foreshadow the cost of the program, “Wow! That’s a lotta money for cigarettes! My program isn’t cheap, but nothing even CLOSE to your spending on cigarettes every year. Remember that when we talk about the fee!” and I’d smile again.

Even if they ask for the fee at that point, I would tell them to be patient and just have fun because this will blow their mind.

(And then, I’d prove that nicotine isn’t addictive… but that’s a different post.)

When we’d get to the price and they MAY say, “It’s too expensive!”, I’d just look at them stunned and look at the $6,500 or $8,000 figures and say something like, “So, spending over $6,000 a year — even with day-by-day-spending — is okay? Just get this over with… which credit card are you using?”

That’s not a trick. It’s not a tactic or sneaky techniques. It’s just talking to the other person.

My sincerity came through and they usually bought. Not always, but usually.

One more…

“Can you lower the price?”, and that’s when THEY smile!

I was 100 percent ready for that one because the price for my programs was about three times more than most hypnotherapists were charging for their services.

The Quit Smoking program was actually $1,197. If the customer buys the program — without having to think about it, asking someone else’s permission, or anything other “objection” — they get a $200 “discount”, for a fee of $997.

This isn’t a sales trick; it was a way to get someone to take ACTION.

In closing the sale, the salesperson needs to get the buyer to take action immediately. Otherwise, it will just stall or die right there.

So, when I would talk about the fee of $1,197, I would mention the $200 discount. If they tried to ask, “Can you lower the price?” it was moot.

But, it was easy to get most customers to buy because I was just talking to them. I wasn’t trying to SELL to them.

See the difference?

 

Now, while I will do another video post about getting the buyers to take action, I want to end this video talking about that briefly.

Timing is everything.

In business and selling, if the timing is somewhat “off”, it may mess up what you’re trying to accomplish.

In this instance, you want someone to buy your item or service — because they will benefit from it.

Many times, with the question, “How is it possible to overcome price objections?” the timing is off.

Your motivation at this point should be that your customer will take action.

  • By asking them for their credit card.
  • By asking them when they are ready to start.
  • By giving them a time limit.
  • By giving them a “time” incentive like a special discount if they buy now.

No one really does anything without action.

Without action, nothing will happen.

Not in making plans. Not with your kids. Not in sales. No action will result in lots of frustration and failure for you.

So, at the end of this video, realize that if you get your customers to take action to buy from you, you really won’t need to know how to overcome price objections.

How about that?

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