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Price objections are common in sales -- primarily because most prospects have learned pushing back on cost will get them a discount.

That makes it difficult to respond to a pricing objection if you don’t want to immediately lower your price. While discounting has its place in the sales process, being too discount-happy will destroy your margins and lower your product’s perceived value.



How to Discuss Price

This process will help you overcome price objections:

Step One: After the prospect has finished speaking, pause for three to five seconds.
(Hit the “Mute” button if you need to.)

Step Two: Explore the pricing objection. According to sales trainer and consultant Colleen Francis, you can ask up to three questions before responding to the objection.

Step Three: Summarize their price objection in a few sentences.

Step Four: Circle back to your product’s value.

Here’s an example (using response #23 from this list):

Prospect: “We really like the product, but it costs too much.”

Rep: *Silence.*

Prospect: “The other options we’re exploring are 10-15% cheaper. Is there any way you can come down a bit?”

Rep: “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 … ”

When to Discuss Price

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