How often do you run up against a prospect who says, “I can get a better price elsewhere”?
This gambit takes thousands of dollars out of sales reps’ pockets, says sales guru Mike Brooks.
The good news: This objection also blows out most of your competition. To win, you only have to sell against the “better” price. And you only have to address the price objection. Presumably, the buyer’s otherwise ready to sign.
What’s it really mean?
To beat that deal, first ask for clarification. If someone says that they can get a better price elsewhere, it means one of three things:
- They’re wrong (in other words, they think they are getting the same thing you’re offering, but they’re not).
- They’re bluffing – they’re using this objection to get better terms or just to blow you off.
- They really can get a better price.
To find out what your prospect means, offer to help them see if they really are getting a better price.
Use this script:
“Sometimes my customers genuinely can get a better deal, depending on their needs and situation. But sometimes the deal isn’t really better. Let’s go over each item you’ve been quoted by this other company, and compare apples to apples. If everything is equal I’ll see if I can do better on that. If I can’t, I’ll tell you so. Either way, you’ll win. Now, do you have that other quote in front of you?”
Then simply go over each item to make sure everything is equal. Often it’s not and you can point this out. If it is, you still have a chance to win the deal – by building on the value of having you as their sales rep. Win or lose, it’s worth the effort.
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