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Big Stud Podcast

Apr 30, 2020

BSS Podcast Ep. 30 – What sucks worse than the air bike?

*OBJECTIONS* specifically price objections!

We are kickstarting these next few episodes into tactical sales trainings. We have been speaking about indirect sales that come via marketing yourself as being liked, trusted and known. Now we are diving into how to handle specific sales tactics.

Mike chats about his lifelong theory of trying to avoid price objections vs overcoming them. Changing someone’s mind is very difficult. He rather put the effort into the beginning of the process in order to set proper expectations so pricing can be less uncomfortable to speak to someone about.

When Ryan discusses his pricing, he looks at 2 things. First, he considers his time and what it is worth. Second is what value he brings to someone. If he charges $1500 to a customer who makes $5 off a widget, that simply would not be an advantageous partnership. He’s a believer in undervaluing but overdelivering.

There are many things to consider prior to dealing with price objections. Are you a proactive or retro active company that can get what they ask for? Or are you selling something that is more of an elective, shop around commodity? Perceptions can also play a role in your pricing strategy. How you are seen, heard, dressed all play a role in how you are perceived and what you can charge.

Mike shares some specific sales tactics and responses you can use to handle common price objections people have.

  • Cheaper price? What are you willing to take out?
  • Be confident in your pricing. Can you do any better? Be prepared to articulate back to them how you got there. They may just be testing you in order to try.
  • Be transparent, overcome the objection before it is asked. You may be over budget, so lead with that and explain why.
  • Lastly do not be afraid to qualify in or out certain people by asking them if a certain price range is within their budget. If you are too high, be prepared to let it fly.

This show gets specific and yields great information on examples of how to handle these objections. Tune in to learn more!

Comment, DM, call, tag us – we want to hear from you!

Episode 30 out now!!!!

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