Try responding to a price objection with one of these questions:
- “How much do you want to improve your bottom-line?”
- “What is the ROI you’re expecting?”
The tip this week is built on the premise that businesses don’t buy anything, they only invest. When looking at it this way, it only makes sense to focus on the customer’s decision based on what the ROI is. With the economy behaving the way it is, we have to find ways to demonstrate to the customer the value of their decision in the immediate time frame. This does represent a change from traditional selling which is to keep the customer focused on the long-term value. Right now, customers are not as concerned about the far off future as they are the here and now, so it’s only natural to help them out with your questions.
After you’ve asked the initial question, be sure follow-up with another one based on what they told you. Only after the follow-up question will you be in a position to close the sale, as it helps show the customer your commitment to listen to them and helps increase their level of confidence in you.