Trends
Nov 18 2014

By Emma Snider,

The prospect loves the product and is convinced of its benefits. They're excited to work with your team on implementation. Everything's going along just as it should, until ... you give them a quote.

"It costs what?" "That's too expensive." 

Sigh. Dealing with sticker shock is one of the most challenging aspects of a salesperson's job, but it's also one of the most common. Convincing buyers to part with their money is no easy feat.

Most salespeople agree that overcoming price objections is a matter of conveying value. If a prospect is balking at the cost, it's likely because the rep didn't adequately sell the benefit of their product or service. Many sales experts recommend backing up, dropping the price issue temporarily, and revisiting the value conversation.

That's sound advice. But how should a rep address a pricing objection in the moment? Here are 19 one-liners sourced from real salespeople, along with an explanation of why they really work. 

1) "Too expensive compared to what?"

"Expensive" is a relative term. If you can find out what the prospect is comparing your product or service to, you can more precisely differentiate value.

2) "Really? How are you coming to that conclusion?"

This prompts the prospect to break down their reasoning. Once a salesperson better understands the specific concerns behind the sticker shock, they can more easily address them.

3) "Are there some boxes we left unchecked?"

Circle back and make sure the sales process unfolded to both parties' expectations. 

4) "How much will it cost you to do nothing?"

Get them to think about the bigger picture. Reveal the hidden costs in the status quo. 

5) "Is it a cash flow issue, or a budget issue?"

This question gets to the heart of whether they are asking for a discount (budget) or payment terms (cash flow). Once the rep categorizes the objection, they can negotiate more effectively. 

6) "Let's say money was no object. Would our product/service help solve your problem?"

A fast track back to value. 

7) "What's too expensive?"

Asking this (gently) prompts the prospect to explain their conception of your product/service. Hearing a response along the lines of "Well, it's a lot for just X, Y, and Z" reveals their low value perception. 

8) "Too expensive? That's concerning."

Concerning because this product/service is so valuable for the cost. Nudge the prospect back to value.

9) "Is price the only thing that's keeping you from signing?"

If the prospect has any other objections the salesperson needs to address, this question will surface them. 

10) "Okay. So which part don't you want?"

What you're telling the buyer is that price is inextricably linked to value. So if a buyer doesn't want to pay full price, they won't be able to get the full value. This question might prompt them to reconsider. 

11) "Will price keep you from getting what you really want?"

You're not calling them cheap outright, but you are raising the question in their minds. And no one likes to be cheap, especially when their business is on the line. Alternatively, this will reveal if your product or service isn't the ideal solution for their problem.

12) "Setting price aside, do we have the product/service you want to buy?"

If they say yes, you can follow up with #11. If they say no, determine if it makes sense to go back to value or abandon the deal.

13) "What's the ROI you're looking to see?"

This steers them away from thinking in terms of "expensive" or "cheap," and towards the long-term value for their business.

14) "It might seem expensive for one day, but let's break it down by month/quarter."

A lump sum can seem scary to anyone. Have figures on how the cost distributes over years, months, or days at the ready.

15) "Is what you're saying that our prices are high in comparison to our competitors'?"

If your price is indeed higher than the competition's, this quesiton opens the door for the salesperson to differentiate on value. Another possibility is that the prospect has an inaccurate idea of what this type of product or service costs, and you can clear up their misconception.

16) "You think it costs too much?"

Feeding their line back to them forces the prospect to explain their position, and might make them reconsider in the process.

17) "When's the last time you bought something based on price alone?"

Again, no one likes to feel cheap. 

18) "I understand. In fact, I had two other customers just like you who were uneasy about the price at first. But what they found was ..."

Empathize with the prospect, and then address their concerns with a strong case study that proves value.

19) "In your own business, is your product/service always the least expensive option available?"

If you're a B2B salesperson, this is a great line to have in your back pocket. The buyer's organization has to win deals too, and they probably do it on value and not just price. If delivered correctly, this line might elicit a chuckle -- and a signed contract.

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