3 Ways to Respond to Pricing Objections

Being in sales is not easy, especially when it comes to one of the most dreaded objections—pricing. More often than none, a prospect will inquire about the cost. Although at first glance it can seem like it’s a genuine concern for money, it always stems from value. But, if the product is valuable enough in their mind, they’ll find a way to make the price work.

When handling any objection, it’s critical that you follow the Acknowledge, Isolate, and Overcome process. Keeping that in mind, here are three proven responses to help you smoothly handle any type of pricing question that comes your way.

• Emphasis on the value.
  “I totally understand, let me ask you this, if our service was free, would you step forward with me today? Do you see enough value and agree that our product will solve your pain point/problem?
  This response will allow you to bring the focus back to what really matters—the value.
• Help break it down.
  “I certainly understand, however, what part of what I’m offering today do you feel is too expensive for the value?”
  This will allow the prospect to truly rethink what they are saying and determine if the price is really a factor.
• Focus on the ROI and past success.
  “I understand that price should be considered, but my last client said the same exact thing and after he closed (x,y,z) he came back and thanked me. I’m definitely not here to spend your money, I want to help make you money.”
  “Again, I definitely understand—what type of ROI would you need to see to move forward?”
  Both of these responses will provide tangible proof of how your product has worked for previous clients and how it can change this prospect’s life.

Unfortunately handling objections can be tricky—but it shouldn’t deter you from closing. With a little practice, the above responses will bring you newfound success in your sales career.