Will the Support keep the price up

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Contents

33 Responses to the Sales Objection, “Your Price Is Too High”

How to Overcome Pricing Objections

  1. Wait for the prospect to finish speaking.
  2. Pause for 3-5 seconds.
  3. Ask a question.
  4. Pose a follow-up question.
  5. Summarize their objection in 2-3 sentences.
  6. Clarify if you missed anything.
  7. Diffuse their concern.

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

According to Gong’s analysis of 25,537 sales calls, there are clear-cut “best times” to discuss your product’s price — between 13 and 20 minutes, and 40 and 49 minutes.

These findings make sense: High-performing reps bring up pricing at the beginning of the call to set their prospect’s expectations, and again near the end so they can transition smoothly into the close.

While you shouldn’t abruptly change the topic right when the clock hits 40 minutes, you should structure the meeting so you can hit pricing when you’re around 20% and 65% of the way through.

30 Responses to Price Objections

The following responses to pricing objections allow you to acknowledge your prospect’s concern without immediately slashing your price or causing them to walk away.

1. “Too expensive compared to what?”

“Expensive” is a relative term. Are they referring to one of your competitors? Are they referencing what it might cost to not leverage your kind of product or service? If you can find out what the prospect is comparing your product or service to, you can more precisely differentiate value.

2. “How are you coming to the conclusion [product] is too expensive?”

This prompts the prospect to break down their reasoning. It offers a better picture of who your customers are and how they think. Once a salesperson better understands the specific concerns behind the sticker shock, they can more easily address them.

3. “Are there some boxes we left unchecked?”

Give them some space for input. See where you both stand in the transaction. Circle back and make sure the sales process unfolded to both parties’ expectations. If nothing else, it can help your sales efforts going forward.

4. “I hear you. The best products are often more expensive.”

According to sales expert Geoffrey James, “a price objection isn’t ‘real’ until the customer has brought it up twice.” Using this response the first time you hear “it’s too expensive” can help you separate the prospects who truly don’t have the budget from those who are merely kicking the tires.

5. “How much will it cost you to do nothing?”

Get them thinking about the situation at hand a bit more. Reveal the bigger picture. Show the hidden costs in the status quo, and put yourself in a better position to demonstrate the value of your product or service.

6. “Is it a cash flow issue, or a budget issue?”

This question gets to the heart of whether they are asking for a discount (budget) or payment terms (cash flow). Once the rep categorizes the objection, they can negotiate more effectively.

7. “Let’s explore some creative strategies for fitting this into your budget.”

If your prospect doesn’t have enough allocated funding, try to find a workaround. Suppose their department has a set budget for software and a separate one dedicated to maintenance. Instead of charging them one flat price, you might send one contract for your product and another for your service fees. Now that you’ve unbundled or unpackaged your solution, your prospect can fit it into the budget.

You can also bill the buyer in stages. Let’s say your product would max out their quarterly budget — and they need to save money for other purchases. Charge them half now, and half next quarter.

Not only will the buyer appreciate your flexibility, but you’ll rescue the deal without compromising on price.

8. “Let’s say money was no object. Would our product/service help solve your problem?”

This is a fast track back to value. Make them think about their situation and visualize what your product or service could do for them. If they have that idealistic picture, they’ll be more inclined to hear your realistic proposition.

9. “What’s too expensive?”

Asking this (gently) prompts the prospect to explain their conception of your product/service. Hearing a response along the lines of “Well, it’s a lot for just X, Y, and Z” reveals their low value perception.

10. “Too expensive? That’s concerning.”

Concerning because this product/service is so valuable for the cost. Nudge the prospect back to value. Be careful with this one, you don’t want to sound too overly aggressive or condescending.

11. “Is price the only thing that’s keeping you from signing?”

This one can bring other important issues prospect has to light. If they have any other objections the salesperson needs to address, this question will surface them.

12. “Okay. So which part don’t you want?”

What you’re telling the buyer is that price is inextricably linked to value. So if a buyer doesn’t want to pay full price, they won’t be able to get the full value. This question might prompt them to reconsider.

13. “Will price keep you from getting what you really want?”

You’re not calling them cheap outright, but you are raising the question in their minds. And no one likes to be cheap, especially when their business is on the line. Alternatively, this will reveal if your product or service isn’t the ideal solution for their problem.

14. “Does this mean we will never have the chance to work together?”

Francis argues that the word “never” is the kicker.

“When it comes to handling sales objections, ‘never’ is the most powerful word in the English language,” Francis writes. “Most people hate it. As a result, the vast majority of prospects will respond by saying, ‘well, no … not never!'”

The salesperson can then probe into the conditions required in order to strike a deal and adapt terms or walk away accordingly.

15. “Setting price aside, do we have the product/service you want to buy?”

Be frank with them. Get a definitive picture of their interest in your product or service. If they say yes, you can follow up with #12. If they say no, determine if it makes sense to go back to value or abandon the deal.

16. “What’s the ROI you’re looking to see?”

This steers them away from thinking in terms of “expensive” or “cheap,” and towards the long-term value for their business. It also puts you in a position to objectively define the value of your product or service.

17. “It might seem expensive for one day, but let’s break it down by month/quarter.”

A lump sum can seem scary to anyone, so parcel the number out a bit. Show them a new way to conceive of your pricing. Have figures on how the cost distributes over years, months, or days at the ready.

18. “Is what you’re saying that our prices are high in comparison to our competitors’?”

Like so many others on this list, you have to deliver this one without aggressiveness or condescension. And if your price is indeed higher than the competition’s, this question opens the door for the salesperson to differentiate on value.

19. “Have you ever bought a similar product or service before?”

Another possibility is that the prospect has an inaccurate idea of what this type of product or service costs — perhaps because they’ve never purchased it before. With this question, you can clear up their misconception.

20. “Price is an important consideration. So I have some context: How much research have you done on what a typical investment is for a product/service like this?”

According to Andrew Quinn, VP of Learning & Development at HubSpot, the question behind this one is, “Do you already know what something like this should cost?”

Thanks to your prospect’s inexperience, they might be placing your product in the wrong category.

For instance, maybe your solution has both a data storage and an analytics component. If they compare it to other data storage options, it’ll look significantly more expensive. But if they benchmark it with analytics software, your price is right in line with the competition.

21. “You think it costs too much?”

Prospects can change how they feel as they hear recap their perspectives. Feeding their line back to them forces the them to explain their position, and might make them reconsider in the process.

22. “When’s the last time you bought something based on price alone?”

Again, no one likes to feel cheap. This question provides an excellent opportunity to differentiate your value from your competitors.

23. “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 . “

Empathize with the prospect, and then address their concerns with a strong case study that proves value. Be able to demonstrate real results — having hard figures is a big plus when doing this.

24. “In your own business, is your product/service always the least expensive option available?”

If you’re a B2B salesperson, this is a great line to have in your back pocket. The buyer’s organization has to win deals too, and they probably do it on value and not just price. If delivered correctly, this line might elicit a chuckle — and a signed contract.

25. “Do you really need to say ‘no’ to our price right now?”

Seems a little harsh, right? Not so according to Tom Reilly, the sales expert behind this approach.

“When the buyer says, ‘I don’t know. The price is higher than I want to go,’ try two or three ways to deal with it. If nothing works, offer this response and watch the expression on the buyer’s face,” Reilly wrote in a blog post. “I guarantee they will raise their eyebrows.”

If the buyer replies that they don’t have to say no right now, the salesperson can then suggest the prospect take a few days to mull over the price — and realize that by saying no the price, they’re saying no to the product and its associated value.

26. “[Silence]”

Sometimes the best response is no response. When a salesperson simply falls silent after an objection, the prospect often begins to explain their rationale. The rep can then address specific concerns from there —no prompting needed.

27. “Up front, it’s a significant purchase. But when we look at [weekly, monthly, yearly] ROI, you’ll actually save money.”

Put your product in context. Let them know you understand their hesitance and concern, but assure them that those issues can be smoothed over. Again, having hard figures to back up this question is huge.

28. “[Prospect’s name], I would rather apologize for the price today than for the lack of quality and your unhappiness forever. Now, let’s not let a few dollars keep us from doing business together.”

This reply comes from famous salesperson and trainer Zig Ziglar courtesy of Butch Bellah. It reminds your prospect skimping on price will hurt them in the long run.

29. “Thanks for your honesty. How much were you thinking of spending?”

The prospect’s answer will reveal whether they’re in the right ballpark or playing in a completely different state. This response also turns the conversation back on them, so they’re forced to take a stand or admit they were bluffing.

30. “That’s a little surprising to me, because when we talked [earlier, on X day] cost was less of a concern. Has something new come up on your end I should know about?”

Use this objection-handling strategy when you’ve previously discussed price and it definitely wasn’t an issue. Something has clearly changed — your prospect has begun evaluating a less expensive alternative, the final decision maker has asked them to get a discount, their department just invested in a different solution and now they have less budget — and you need to figure out what did.

31. “I don’t want to force you into something here — but I also don’t want you to miss out. Is this something that would be less of an issue next quarter?”

You never want to rush a deal that’s too discounted or too much of a stretch for your prospect. Offering a steep price reduction just to close a deal will do your business more harm than good over the long run. And pushing a close your prospect really can’t afford might lead to early termination or default on payment —also not good for your business.

Instead, be open to waiting until more budget opens up. A matter of weeks might mean the difference of thousands of dollars for your company and your commission.

32. “How soon would you need to see ROI for this to work with your budget?”

Telling your prospect they’ll see 20% ROI isn’t comforting when they have a strict budget and aren’t sure how long it will take to see those returns. Ask them how soon they must see the benefits of your product/service and do the math with them to determine whether they can achieve that goal, even with their current budget.

33. “What are the most valuable parts of the product/service for you?”

If it’s just not possible for them to afford your full product/service, ask which parts would be most valuable to their business and work with your sales manager to create à-la-carte pricing. This might not be possible with your business model, but if it is, you’ll earn a thankful customer — and hopefully more business from them down the line.

Once you’ve gotten a handle on the blocker, you can determine whether it’s surmountable or you need to walk away.

Want to learn more? Discover the five most common objections in prospecting and how to overcome them.

Editor’s note: This post was originally published in June 15, 2020 and has been updated for comprehensiveness.

Will the Support keep the price up?

I really would like to buy some skins but it seems skins are priced high right now compared to say last month.

should i wait it out? will the prices go back down as i really wanted to buy a karambit rust coat BS

At the start of sales. The next best time would be when Spring Sale starts.

yeah but its winter sale and the price of csgo skins went up

Err I think yes. When nobody is buying, the skin prices will reduce. It means a lot of new players have came and bought the skins, result in a lower supply and price increase. This had not happen in past holidays. They are usually cheaper when players sell their skins to buy games.

Just checked, CSGO reached 850k peak players.

Err I think yes. When nobody is buying, the skin prices will reduce. It means a lot of new players have came and bought the skins, result in a lower supply and price increase. This had not happen in past holidays. They are usually cheaper when players sell their skins to buy games.

Just checked, CSGO reached 850k peak players. :runeshock:

Err I think yes. When nobody is buying, the skin prices will reduce. It means a lot of new players have came and bought the skins, result in a lower supply and price increase. This had not happen in past holidays. They are usually cheaper when players sell their skins to buy games.

Just checked, CSGO reached 850k peak players. :runeshock:

to be more precise, skin price can’t be decreased, the only way for skin to decrease, someone needs to sell lower price, however by someone buying something they increase the price since they are most likely to buy the lowest price.

and when someone sells something they can still keep the price up, and never let the price down, however, some people want their item sold first, meaning they sold to as low price as possible

it’s like a market, the decision of price depends on the merchant, but that merchant decision of pricing, it’s affected by the buyers

Err I think yes. When nobody is buying, the skin prices will reduce. It means a lot of new players have came and bought the skins, result in a lower supply and price increase. This had not happen in past holidays. They are usually cheaper when players sell their skins to buy games.

Just checked, CSGO reached 850k peak players. :runeshock:

to be more precise, skin price can’t be decreased, the only way for skin to decrease, someone needs to sell lower price, however by someone buying something they increase the price since they are most likely to buy the lowest price.

and when someone sells something they can still keep the price up, and never let the price down, however, some people want their item sold first, meaning they sold to as low price as possible

it’s like a market, the decision of price depends on the merchant, but that merchant decision of pricing, it’s affected by the buyers

Stocks surge for second day amid apparent slowdown in new virus cases, Dow jumps 800 points

Stocks rallied on Tuesday, building on the strong gains from the previous session, as investors grew more optimistic about a decline in new coronavirus cases.

The Dow Jones Industrial Average traded 846 points higher at the open, or more than 3%. The S&P 500 gained 3.2% while the Nasdaq Composite surged 2.8%.

“Investors chose to accentuate the positives, as they have been mostly doing since the bear-market low,” said Ed Yardeni, president and chief investment strategist at Yardeni Research, in a note to clients. “In our opinion, we are in the midst of a Great Rebalancing away from bonds and into stocks.”

“The bear market has most likely discounted a depression-like recession packed into Q2 and Q3,” he said. “It certainly hasn’t discounted the possibility of an actual apocalyptic depression lasting through at least 2021 and beyond. On the contrary, the market’s recent action suggests that investors are betting on an economic recovery starting during Q4 and continuing through 2021.”

The moves came after a series of positive coronavirus developments were reported in Asia.

South Korea reported Tuesday less than 50 new cases of infection for the second day running. China also posted no new deaths as of April 6 for the first time since January when it started publishing daily updates.

The two Asian countries were among those which saw spikes in infection rates earlier in the outbreak, with the first cases being reported out of China.

Stocks surged on Monday as a slew of coronavirus headlines pointed to a potential stabilization in the U.S. The Dow soared 1,600 points, posting its third biggest point gain ever. The S&P 500 jumped 7% to its highest level since March 13. With Monday’s rally, the S&P 500 bounced about 20% from its 52-week low on March 23.

President Donald Trump said in a press conference Monday there’s “tremendous light at the end of the tunnel’ with ten different therapeutic agents in active trials. Trump echoed comments by World Health Organization officials who said the research to develop vaccines and treatments has “accelerated at incredible speed.”

“The apex in New York state is likely imminent as opposed to one month out,” Marko Kolanovic, JPMorgan’s global head of macro quantitative and derivatives strategy, said in a note on Monday. “Big data indicated very early on that social distancing is working overall.”

Amid Monday’s rally, Wall Street’s fear gauge the Cboe Volatility Index fell 3.3% to 45.24, the lowest level in about two weeks. Three weeks ago, the VIX hit a record high of 82.69, surpassing the peak level during the financial crisis.

Still, the cases in the U.S., the world’s most affected country, topped 347,000 with at least 10,000 deaths, according to data from Johns Hopkins University.

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“We still believe that the odds are quite high that the lows from March will be retested and probably undercut before this bear market comes to an end,” Matt Maley, chief market strategist at Miller Tabak, said in a note on Monday.

Stocks are still in bear-market territory with the S&P 500 about 21.5% off its record high. Many on Wall Street believe stocks haven’t fully priced in the potential corporate earnings collapse as the coronavirus outbreak have virtually shut down the global economy.

(community.competitors, customer,law,loss, prices, profit,taxes,wages)
1. Focus only on making a big ___
2.pay employees low ___
3.charge high ___
4.never break the ___
5.avoid paying ___ to the government
6.believe the ___ is always right
7.invest in the local ___
8. Put your ___ out of business
9. Be prepared to make a ___ for at least the first year.

Ответ

Проверено экспертом

1. Focus only on making a big profit

2.pay employees low wages

3.charge high prices

4.never break the law

5.avoid paying taxes to the government

6.believe the customer is always right

7.invest in the local community

8. Put your competitors out of business

9. Be prepared to make a loss for at least the first year

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