Wednesday, November 4, 2015

Selling: Avoiding Conflict on Cost



Dealing with Cost Objection

Many times, the clients’ objection is on Cost whether it’s the reason they give for objecting or not. When someone says “it costs too much,” it either means you don’t have a qualified buyer or that you do have a qualified buyer but they don’t think your offer is worth the asking price. Assuming that the prospect is qualified and reasonably interested in buying, be are on top of your game, it is up to you to show that what you are selling is worth significantly more then what you charge.


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Part of gaining this trust in your goods or services lies in your ability to be trustworthy. If prospects don’t trust your business, you, or your people, they probably aren’t going to buy. A significant way to gain trust lies in the words you use during the sale and, more importantly, avoiding the wrong ones.

If they bring up cost, avoid words related to total price or dollar amount. Say “twenty-five a month” instead of twenty-five dollars a month.” If they ask you how much that comes to in a year, use your calculator, show them, and say “that much.” Or, kindly give them a calculator to use. This way it’s the calculator telling them the total cost, not you. Whatever method you chose, avoid saying “it comes to three hundred dollars.”

Another helpful way of handeling the situation about a concern on price is to hand them the calculator and ask, “How much too much do you feel it is?” Get the prospects to focus on the amount they feel is overpriced, not the total price.

Collecting Golden Eggs

Don't end up like the greedy farmer who killed the golden goose in search of an extra egg. Sometimes trying to get a bigger commitment from clients isn’t the best long-term solution. The priority should be setting appointment patterns for clients. Automatic funds transfer is a great example of getting clients to come in regularly and pay in small, manageable chunks. This means that you need to provide payment plan options that fit both the needs and budgets of the clients.

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Ultimately, however you chose to do it, even if you collect payments one by one at each appointment, the key is to set a pattern of payment: weekly, biweekly, monthly, or quarterly. Put this idea into motion during the first appointment by informing clients how meeting on a regular basis can benefit them. Then; present a plan, continue to deliver great service, build trust, and assume the sale.