The “you’re too expensive” sales objection sounds a lot like “I can’t afford that.” However, they are fundamentally different. The “you’re too expensive” sales objection highlights a problem with your value. The “I can’t afford that” sales objection highlights a challenge with the client’s budget. RELATED TOPIC – Handling the “I can’t afford that!” sales objection.
This is the objection that makes professionals a little angry. It does so, because it feels like a personal attack.
Are you kidding me! This is highway robbery! Your price is way too high!”
As a professional, you believe in what you offer. In my 17 years of selling and training, I have never offered something that I didn’t believe was awesome. So, to be told that my offer is less than awesome, is a little upsetting.
5 Steps to eliminating the “you’re too expensive” sales objection
#1 – Deliver a Presentation that Builds Value
If your presentation is not built upon the client’s needs and wants, then you are going to be “too high.” Trying to handle this objection without established value through your presentation is totally pointless.
After you have delivered a high value presentation, then you are ready to handle this objection.
#2 – Control Your Emotions
You may be asking yourself, “Why would this client object so rudely if I did such a good job?”
The answer is the following:
The shock of price can make people lose their mind.
I mean no offense by this statement. It just happens to be the truth. When a person gets a new surprise, he moves into a defensive posture. This is also called the “Adaptive Personality.” This adaptive personality makes him think and feel differently. See the changes in the diagram below.
You will notice how there are significant to subtle changes in the client’s personality.
Now that you know the client’s personality is changing, you see why you must control your emotions. Because, your personality is changing too!
If you are not in control, then before you know it, 2 strangers are sitting across the table from each other. It is like the call is brand new, and it started in the worst possible way.
#3 – Isolate the Real Meaning
Let’s examine the scripts associated with this objection.
Client: “Your price is WAY TOO High!”
Tech: “Mrs. Jones, I can understand how this investment can be a surprise, especially if you were not thinking that you would need these repairs. Just to make sure that I’ve answered all your questions and concerns; you do feel that the repair list I’ve shown you here is what your home needs, don’t you?”
Client: “Yes, I do. It’s just that it is so much money.”
Tech: “Again, Mrs. Jones, I can completely understand. So, just to be super clear, when you say “Your price is WAY TOO High,” are you saying that you’re not sure if that fits into the budget, or that you don’t think that the total I’m showing you is a fair amount for the services I will provide?”
Client: “I really don’t think you are worth the money you are asking! I think that is just highway robbery!”
This may be the point in time when you start to feel angry. Remember – control your emotions.
#4 – Apologize for Price
I first heard this approach from the great Zig Ziglar. I strongly recommend you add Zig to your professional library.
Tech: “Mrs. Jones, let me be the very first person to apologize for our price. I’m sorry that we are more than other companies, and I do recognize that we are more. I learned a long time ago, that it is better to apologize once for my price being too high than it is to apologize over and over again because my service was poor. Do you know why I say that is true?”
Tech: “The answer is because I have discovered 3 things to be true in this business. May I share those with you?”
#5 – You can get 2 of the 3
This the process that justifies the sales total.
Tech: “Mrs. Jones, I have discovered the following things to be true in any industry, and especially true in the plumbing industry. You as a client, have the right to 3 basic demands:
- The first is the lowest price.
- The second is a great, highly trained plumber.
- The third is a great company to provide service before and after the sale, and to stand behind the promises of the plumber.
Those are you rights as a client, wouldn’t you agree?”
Client: “Yes, of course!”
Tech: “And you can get 2 of the 3. You can get the lowest price, and a good plumber; or you can get the lowest price and an okay company. But as a professional plumber, who can work for anyone in this city, I can tell you that you can’t get a great plumber like me, and a company like our’s, for the lowest price. It’s just not possible. So, yes we are more. But it is because you are getting an amazing install, and amazing service, with guarantees in writing. Now that’s worth the little bit extra, isn’t it?”
Client: “I guess, if you put it that way, it makes sense.”
Yes, this works.
You may be questioning whether or not it is that easy. Well, that means you haven’t tried it. Yes, it works. No, it doesn’t work 100% of the time. But, does it have to work 100% of the time to be worth using? Of course not! If you closed 2 more sales out of 10 with this technique, it would be worth learning. RELATED TOPIC – 4 keys to winning the “I need to talk to my spouse” sales objection.
The Big 5 Sales Objections
Here are the links to each post in this 5 part series:
- Is it a lie? The “I want to think about it” sales objection
Putting These Skills To Use
Did you know that the absolute best way to learn is to practice a new technique in the presence of experts that can give you instant feedback? When you practice in the presence of experts, you get the following benefits:
- Clear direction and instruction.
- Confidence from practice.
- Instant feedback.
- Training that comes alive in the moments you need it most – the field.
If you are interested in these benefits and more, then attend out next PRESS PLAY Training Series for Sales or Techs. FIND OUT MORE HERE.