Price objections are the most common objection that salespeople will face when they are trying to sell their products. However, price objections are not always about money.
A lot of people think that the only way to overcome a price objection is by cutting prices or using persuasive tactics. However, there is a better way to overcome this type of objection – understanding what the customer's real objection is and addressing it accordingly.
Why Do Price Objections Occur?
When we buy anything, we do not pay with money alone. We pay with our time and energy as well. As a result of this, price objections are the most common issue that occurs in any sales conversation.
This section is about explaining why the price objection issue is such a prevalent issue in any sales conversation. To understand this, we need to understand how human beings react to prices and their implications on our time and energy.
We have more trust in people who are similar to us or those who share a common interest with us over those who are different from us or those with whom we do not share an interest. This psychological phenomenon can be used by salespeople as leverage for winning over customers who have objections against prices on their list of worries when considering a purchase decision
In this video, I share with you step by step how to overcome money objections.
Looking for more on sales strategies? Check out the Entrepreneurial Freedom Livestream where I will be walking you through a full sales process.