Paul addresses the most common and frustrating challenge that salespeople face. Paul also explains why buyers object on price and he gives you the best way to respond.

Price objections are what prompted the original edition of Value-Added Selling. Salespeople constantly experience price resistance, yet they are woefully unprepared to manage price objections. 

“Price is not the most important thing when making a buying decision.”

Only about 15 percent of buyers focus on price when making a buying decision. This means that roughly 85 percent do not buy on price. That’s great news!

“Most price objections aren’t real price objections!”

Oftentimes, customers will mention price as the objection but there is usually something deeper or hidden we need to uncover. So, when the buyer mentions price, clarify with a follow-up question. 

“The number-one reason buyers object on price is because of a perceived lack of equity.”

Fairness is critical in buying decisions. Buyers must feel they are getting as good as they are giving. Your response to price objections must build a perceived sense of fairness. 

Paul also provides the hands-down, best way to respond to any price objection.

“Mr. Buyer, the reason you’re concerned about price is because…”

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The Q and A Sales Podcast is edited by The Creative Impostor Studios.

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