Tip #5 Overcoming “price” objections

How to overcome the “price” objective with people –

Most people will always look to find the lowest price and sometimes that is merely a smoke screen objection to something else.  I saw this in one of my agency’s in my travel over the past ten years -so its not original, however I think it is a great thing to do.  (keep in mind its geared toward insurance, but can be tailored to fit your industry)

If your prospect/customer indicates they want a lower price say the following:

“I understand in today’s economy, we have to watch what we spend.  However, I am not sure you really want the lowest rate on your insurance.

I have found that when people are making this kind of purchase there are three things that everyone wants: 1) The highest quality; 2) The greatest service and 3) The lowest price.

In all my years, I have never found a company that can put all three of those items together in the same package.  I am curious Mr./Mrs ____ for your long term happiness, which one of those three would you be willing to give up?”

Obviously, you are trying to help the customer/prospect realize that there is more to the purchase than just price.  If you have a person that is willing to sacrifice quality or service, then chances are you are working with the wrong prospect.

Good luck in finding the right prospects and keeping your current customers.   Thanks for visiting The Sales Plan and be sure to subscribe to receive email updates regularly.