4 Ways to overcome price objections

1. Review the value or service experience
2. Change the Scope of the Job
3. Offer a Free Trial
4. Let them know you accept credit cards.

4 Ways to overcome price objections:


1. Review the value or service experience

Before you quote your price, make sure that you have thoroughly covered
the uniqueness of your service. Once you have developed a script that
covers the values and unique benefits of doing business with your company,
you can review these values with your client to insure that you have “buy
in”. Ask your client “Is it important that the company you work with is…?”
or… “Is it important to you that the company you choose, does…?” By reviewing
the benefits and values, you may uncover hidden objections. This process
reminds and refocuses clients on why they are buying your service and
why you may charge more than someone else. If they say that your benefits
aren’t important to them, and you do not offer what they want, then you
must choose whether to give them what they want, or realize that you have
attracted someone that is not your client.

For example, you sell your service based on Reputation, Experience, Education,
Systems and Guarantee. The client balks at the price. You say “Mrs. Jones,
is it important that the company you do business with has a great reputation?”
She responds. “Is it important that the company you choose offers a money
back guarantee?” If she says “yes”, then you have a chance of convincing
her that to get those benefits, she may have to spend more. If she says

“no”, you may have attracted someone that is not your client.
So, asking the question “Is it important to you that…” causes them to
review their value system. If they answer yes to each of the questions,
then talk about how each one of those values cost a great deal to maintain
– that there is a reason that the other guys are cheap. If they are cheap,
then they are skimping on an extremely valuable value.

2. Change the Scope of the Job

If you get a price objection, don’t be tempted to just slash the price.
Instead, review the job and see if there are parts of the job that can
be done at a later date. By changing the scope of the job – settling for
a smaller job instead of slashing prices, you are still getting your full
price. This is important for your branding and positioning and it is important
to charge a profitable rate.

Say “we could forego this part this time. You need to do it, but you
could wait to get this part of the job done.” Usually, when your client
sees that you are willing to work with them, they will often say “Oh,
just go ahead and do all of it.”

3. Offer a Free Trial

Another strategy to use when you have a price objection is to “prove”
that you are better. Offer to do a sampling of the job at no charge and
no obligation. Remember that the free trial offer is really “permission
to market”, so put on a show!! By giving them a no-risk way to taste before
buying, you have the opportunity to move them closer to the sale.

4. Let them know you accept credit cards.

Sometimes your client really wants your product, but just needs to work
out their finances. Offering payment plans or accepting credit cards may
give them the flexibility they are looking for.

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