Sooner or later, when any of us wants to buy something, we want to know the price. Then, in our heads we go through an internal process of evaluating whether it's worth it. If we decide that it is, we make our purchase.
Very often what is perceived as a price objection is actually a request for more information; without knowing the price, we are unable to decide. If people made purchases based on price alone, 93 percent of organizations would be out of business. Price objections can be dealt with much more effectively by incorporating the following suggestions within your sales approach.
Leave price talk for later. My advice is always to postpone talking about prices until after you have demonstrated the value of your product or service. If people are informed of the price too early, they'll make an instant judgment that can close their mind toward what you are telling them.
For example, if you were told that a grubby old stone cost $10,000, you'd be very closed about what the seller was going to say next. Alternatively, if you were shown an uncut, 30-carat diamond with a photograph of how it would look cut, its value would be perceived as dramatically higher, meaning that when the seller told you the price, you'd have already appreciated its value.
If a prospect asks the price too early in the sales process, its good practice to say something like this: "Before we can discuss prices, we both need to be absolutely sure that we are the right fit for you. So, if it's OK, let's come back and discuss the price in detail when we both know what you need."
