When a price objection surfaces, most salespeople crumble. Or, they take the path of least resistance and match a competitor’s price. Salespeople need to understand that buyers are being professionally trained to ask for price concessions.
Several years ago I attended a popular negotiation course that was advertised in an in-flight magazine. One of the concepts that I was taught was to always ask the seller, “Can you do better?” Or, make the comment, “You’ve got to do better.” So, I tried that technique the very next week on a major supplier of advertising space.
To my surprise, “Can you do better?” Got me a $50,000 discount on a $250,000 purchase. That’s $12,500 a word!
In Action Selling, we teach salespeople that price objections may be a disguise for another buying decision that is not satisfied. Examples include the customer is not completely sold on you, your company or your product. That’s why we teach salespeople to return to Act 3 – Ask the Best Questions and learn more about the customer’s price objection.
It goes like this…
About Duane Sparks
Duane Sparks is founder and chairman of The Sales Board, the authoritative source of practical and leading-edge information about the art and science of selling. He has created Action Selling sales training products and learning systems that transform sales organizations. Duane is author of these best-selling books: Action Selling, Selling Your Price, Questions (the Answer to Sales), Masters of Loyalty (How to turn your sales force into a loyalty force), and Sales Strategy from the Inside Out (How complex selling really works).
Discover how the best sales training process can make spectacular improvements in sales skills. Action Selling: How to Sell Like a Professional (Even If You Think You are One).