They Say ‘It’s Too Expensive.’ Now What?

Price objections are a big deal. Or they can be if you’re not equipped to deal with them. Some sellers even see this as a reason to throw in the towel and abandon the sale with their tails between their legs.

Hold your horses. 

There’s a lot to unfold when prospects hit you with the “it’s too expensive” objection. And some of it may surprise you. 

So, next time, a client complains about price… do this 👇🏻

Find out What They Mean

Just because someone says “It’s too expensive”, that doesn’t mean the sale is lost. It doesn’t even mean you know what they mean. Think about it this way: if you were shopping for a gift for your kid, say they’re a teenager. On the one hand, you could buy them a gaming console, and on the other hand, a used vehicle, in great condition. Either will cost you $8k. 

You’d probably blow a fuse even considering paying that kind of money for a gaming console. The perceived value of these items has a huge disparity – and for good reason! 

Sometimes clients will attribute the value of the gaming console to your product, not because your product sucks, but because they don’t understand the value in it.

In extreme cases, the client may not understand the actual offering – this is especially true for more complex products. You may not have been selling gaming consoles at all, but rather, a used vehicle, in great condition, with a TV screen and gaming console installed – and at the same price.

Remember, your customer is not an expert at your product, and sometimes, they may not have the full picture, even though customers these days are much savvier than they were back in the day. 

Question Their Opinion

In order to find out where this misperception of value is coming from, you’ll have to ask some questions. You can simply, tactfully, throw their question back at them: 

“Too expensive? Could you explain why you believe that?” 

Chances are they will explain one of the following: 

• They had a similar, cheaper service before that did the job just fine. 

  • In this case, you want to let them know that your product is not about “doing the job just fine’. Rely on your USP here, and differentiate. 

• They’re being pitched by a competitor who’s doing the ‘same thing’ at lower cost. 

  • No two companies under the sun are exactly alike. There is something that your company does that is different compared to this competitor. Highlight it, give examples, and again, differentiate.

Sales Q&A

Handling the Dreaded Price Objection Like a Boss

Read more here.

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