There’s no secret to overcoming price objections. In fact, to say that we can “overcome” them may not be the best wording – there are many solutions to help you justify your prices. The ultimate goal is to eliminate the customer’s price concern by helping them to understand the value of your goods and services so they will have an easier time accepting the final ticket price.
There are several solutions for combating price objections when a customer claims that your competitor will do “exactly” the same work or provide the “exact” same goods for a smaller ticket – and they all hinge on one simple priniciple: know exactly what you’re competition is offering.
- Significant price differences usually means a difference in product. Know the ins and outs of your competition’s sales and services and leverage this information to your advantage by having rebuttals ready for customers. Be prepared to justify your price through the use of superior components, better technician training, impeccable service records, etc.
- Quality vs. Price. Many consumers aren’t aware of the costs associated with higher quality parts or components. Take time to explain the differences in the equipment you use or are installing and the overall benefits that the customer will see because of these better technologies.
There are numerous reason a consumer might balk at price, by knowing your competitiors offerings you’ll be able to explain why yours is a better value even though the price tag may not be the cheapest.