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Tuesday, 5 November 2013

Objection - Your Price is too HIGH!!

In an earlier article I had discussed about  LARA's Secret to Managing Objections

All of us have had objections during the sales process. There are many reasons for objections yet some organisation (or more specifically people) still manage to sell the services or products. 

Most sellers are under the impression the main reason for objection that leads to a rejection of a sale is due to price. Maybe it is true or maybe its not. In some cases, this may be true but for the remaining cases is this the only reason.

So, the question arises then how is it possible for Mercedez Benz to sell thousands and thousands of cars year on year. It is considered as one of the most expensive cars in the world yet year after year it manages to sell again and again.

Rather than focusing on the price factor as the cause of objection its about time for you to consider the following possible reasons for the objection:

  1. You need to be clear of your USP (Unique Selling Point/Proposition)
  2. You have to comprehend BAF (Benefits, Advantages, Feature) of your offerings
  3. You should pay a closer attention to UPB (Unique Perceived Benefit)
  4. Your RAP (Research, Analysis, Planning) requires improvement
  5. Your communication skills (verbal, non-verbal, written) have to be fine tuned
  6. Your listening and questioning asking skills need to be focused
Now its time to look at it from the perspective of what the customer/client may actually mean by saying "Your Price is Too HIGH", this is a silent language:

  1. I just cannot afford it
  2. I can get it at a lower price from another vendor
  3. I do not want to buy from you or your company as I am unable to trust you (there is a credibility issue somewhere)
  4. I am unable to see the ‘value versus cost proposition’ (benefits to me vis a vis the price)
  5. I just need and want more information
  6. I felt you saw me just as a money transaction rather than a person who needs help and guidance
Many a times we focus of the first six reasons thus are unable to read the silent language of the customer/client i.e. view it from the customers perspective.

It is crucial for anyone in sales to be aware that sales is the same as customer service. So, rather than thinking of the customer in terms of Always Be Closing (ABC) it is about time to think of them in terms of Always Value Before Closing (AVBC).

As a salesperson you have only one objective when engaging in a sale and that is to have a service mindset. You are there to help, serve, assist and guide the customer to a solution that will fulfill their needs and wherever possible their wants.

My name is Rohit Bassi and I am the founder of In Learning. My mission is about sowing the seeds of passion to help you outperform yourself by enhancing your core critical skills of communication, leadership and collaboration. I have delivered workshops to the likes of Oracle, Harley-Davidson, Emirates NBD, Emaar, Alshaya, Baskin Robbins, Mazda and many more. Please feel free to contact me via or call on +971-(0)55-553-2275.