Your Price is Too High - How Do You Respond?

When the prospect comments your price is too high, how do you turn this into an advantage instead of allowing it to become an obstacle to the sale?

When the prospect poses this question, it can mean a number of different things:

• Possibly you haven't sold the benefits effectively to make the prospect want your product or service?
• Possibly the prospect is using this as a reason to stall for some reason?
• The prospect is saying, "Show me that it is worth all that money."

How do you work with this objection? Handle it the same way you would address any objection. Use it as a road sign....not a road block.

1. REPHRASE the statement as a question.
2. REPEAT the benefits. Stress the cost effective ones.
3. REDUCE the cost to its lowest factor

When you have the knowledge of your products/services, knowledge of your prospect's business and knowledge of your competitor's products/services, you can more easily handle the comment ... "Your price is too high." You will be better prepared to satisfy the prospects objection that the value they receive from your offerings is well worth any additional cost.

When you reduce the cost to its lowest denominator, the price will seem to shrink.

Be sure you are comparing apples and apples. Determine the complete specs on which the competitor's price is based.

Your product/service is worth your price. Just show your prospect the value from "his perspective" and you will close more sales!

 
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