If you’re ever challenged with the objection, “Your price is pretty high for that…” and you are tempted to see if you can lower your price to compete, what is the most important bit of information you need?
Think about this…
I was listening to a training call the last week, and the prospect told the rep that his price was quite high for a certain item. The rep then asked for the part number and told this prospect that he would “see what I can do.”
Now that may seem fine, but what is the crucial bit of information he needs to compete here?
He needs to know what other “lower” prices the prospect is seeing—or if the lower price he can offer is low enough to beat the price the prospect has and so win the deal.
If you’re ever faced with this situation, here is what to say:
Prospect: “Your price on these is too high.”
You: “I understand. What price have you been seeing on this?”
“I’m happy to see what I can do, and let me ask you: How many of these do you need? When do you need them by? Finally, if I can match that price, is this something you want to go ahead and order from us?”
By getting this kind of information, you’ll be positioning yourself to not only get a commitment on the order, but you’ll know how many and when.
Try this the next time you’re in this situation and watch your sales—and your commission—grow.
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