Remove the price objection – Part I

5th October 2021

We hear the price objection all the time – “you’re too expensive”, “reduce your price”, “your competitors are cheaper”, “we can’t afford it”, “it isn’t worth the money”…

This means we need to be brilliant at dealing with it.

I have six favourite ways to do this. I’ll share three today, and three next week. Here goes…

#1 Focus on £value

Focus all your – and the customer’s – efforts on:

  1. Finding the best solution for them, and then
  2. Quantifying the £value-add of it

After all, once they know you’ll generate £40million value for them, your price of £10k now looks cheap.

#2 Discuss price last, not first

Only discuss price after you’ve agreed £value-add. That puts your price in context. It helps them understand the return they’ll get for their investment.

The opposite – where you start with "the price is £10k" – gives them no such context – and also makes you sound expensive.

#3 Agree price verbally

It’s tempting to avoid price chats by just putting price in writing.

But that means the first time they learn your price is when you aren’t there – to explain, justify, answer their questions etc. Not good.

Instead, agree the price verbally, then confirm it in writing – “As agreed, our price for delivering this value is £X.”

Action Point

  1. Next price negotiation, use these three techniques
  2. Next week, you’ll get three more – use these too
  3. Click here for more new ways to remove the dreaded price objection

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