I'd buy, but your price is too high
"The price is too high" has been a cry from buyers since the open market in Damascus, two thousand years ago ... but they still bought goods.
The price is too high is a classic objection. To overcome it you must find out what the prospect actually means. Assuming he/she wants to buy now, there are actually three meanings to this objection.
Your price is too high ... I can't afford it.
Your price is too high ... I can buy it elsewhere cheaper (or better).
Your price is too high ... I don't want to buy from you (or your company.)
Now for the contest winners...
The best was the following: "Help me for a second, Mr. Prospect. Are you saying you want to hire us now, but our fees are too high?" (Wait for the prospect to answer).
"We don't look at our service as expensive or even as an expense. Please look at our service as an investment. What we can do for you will cost less in comparison to what it will cost you if you don't hire us and proceed on your present course."
Here are some notable excerpts from other responses.
... What are you willing to pay? ... What price can you afford? ... How much "too high" is it? ... Mr. Jones you're thinking about pennies per day, we're talking about value over a lifetime.
My answer to the question is: "Would you buy it from me today if the price was lower?" (Prospect says yes.)
"You mean other than price, there is no reason we can't do business today?" (Note: I have double qualified the prospect on the price objection to determine it is the real, true, and ONLY objection.)
"If we can figure a way to make it affordable, will you take delivery right away?"
If the prospect says yes, then you have to creatively figure out a way to: change the terms, offer a discount, offer a future credit of items to enhance value, or simply resell at the original price.
If the prospect wants your product or service bad enough, he'll figure out a way to afford it. Just because he says the price is too high, doesn't mean he won't buy.
What is actually being said many times is "I want to buy, show me a way."
Next week: No follow-up system? No sale! (The first of a three part series on sales follow-up.)
