4 Ways to Crush Your Fear of Pricing Objections

You’re the type to knock down doors, make a hundred calls, strike up conversations with multiple strangers at networking events and work a crowded room full of C-Suite executives without breaking a sweat.

That is, until someone starts asking pricing questions.

The one thing that can strike fear into the heart of any salespeople - is talking about price.

Even the most seasoned of veterans can relate to that pang of anxiety you feel when it’s time to talk price.

The pricing conversation is crucial and necessary to the sales process.

It’s really just another natural step in your prospect’s buyer journey. At some point they are going to want to know “how much?”

If the salesperson is nervous about talking price at this point, the prospect starts to feel like they are “getting sold to”.

Suddenly both parties are hyper aware of the subtext and the prospect becomes wary of everything the salesperson has to say.

With the prospect potentially on the defensive, you start to wonder if you are getting accurate info from them...

Which can the lead to you wondering if they are really qualified to make a decision and do they have the budget for your services.

All of the questions start to plague both of your minds.

This triggers a chain reaction of self doubt and worrying about being too “salesy”.

You might start thinking how you compare to your competitors.

You start to question if your price is worth the value you can bring.

Your confidence can take a hit.

How do you avoid pricing objections ruining the sale?

Let me ask you something. Who will dictate the pricing conversation?

You or the prospect.

If it’s the prospect then you have already lost control.

You’ve been relegated to vendor status.

Let's get this straight right here and now: Your job is to add value and problem solve for the client, but YOU direct the sales conversation.

Price may be discussed at some point - but YOU direct when it will be discussed.

This helps you, and more importantly it serves your client too. You’re taking the tension and awkwardness out of the situation for both parties - feel good about it!

Sales is hard enough without you giving up control of the conversation.

If you lose control of the conversation then it becomes near impossible to position yourself as a consultant rather than just a vendor taking an order.

If you are in the trenches having these conversations, or you manage a team struggling with talking price - this guide to steering pricing conversation is made for you and your team.

"I don't want to be salesy"

Listen up, price only becomes an issue in the absence of value.

It is your job to bring value. Demonstrate this value using proof points.

Not just financially - but in your overall service offering.

If your prospect is sold on value - price becomes irrelevant.

Remember, you are a problem solver and value creator.

Not a hawker or a bartering vendor.

Great salespeople differentiate with the intangibles. The commitment to excellence, to constantly improve, and to proactively support customers translates into commitment to serve the client and their business. 

Find the absolute value you bring to the table, and communicate these non-monetary bonuses to help you take the pressure of the price tag.

"Customer asks price at the start"

You can answer the question with a question by first pointing out that pricing depends on their unique needs.

Explain why costs may be dependent on volume, relevant tiers, different packages or other variables.

To give them a quote immediately would be letting them dictate the sales conversation (and building that awkward tension).

If you are going to just give a quote upfront you have firmly placed yourself in the “just another vendor” category.

You want to position yourself as an expert and a trusted adviser.

Prospects will put up resistance, you will face strong objections.

But see this as an opportunity.

You can turn objections into opportunities to focus on the specific needs of the prospect.

Put yourself on the same side of the table as your prospect.

Listen to them.

Really hear what they are saying and take note of any resistance or potential obstacles they start putting up.

Make sure you acknowledge and continue to ask probing questions until you get to the real issue.

"The say we're too expensive"

If a prospect says your price is higher than the competitions, say this;

“I hope so! There are a number of reasons why we are and that's why companies like X and Y choose our service.”

That’s how you gather back control of the pricing conversation.

But only say it if you mean it.

If you don't mean it, make it true by over-delivering on customer service.

When you control the conversation and don’t shy away from price.

You portray confidence in your offering.

When the prospect does have budget, if you’ve communicated the value of your offer you’ll be the first number they call.

Finally, take the time to invest in your brand.

For sales people and small business owners you absolutely MUST invest in your personal brand and become micro-influencers in order to be competitive in the modern economy.

The bigger companies are investing in their company brand and have been for decades, they're just doing it in the wrong place at the moment.

Well, not the best place.

This gives smaller companies and people invested in their personal brand and opportunity to gain market share.

95% of the Fortune 500 companies have been losing marketing share for several years now, so it won't be long before they wake up and the party will be over.

Get started by downloading my prospecting kit, while you're on my website also check out the Social Selling Guide under Resources.

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