Price objections can be divided into three classes:

1. Those which are not meant by the customers from the point of view of value, but that the prices are higher than they can afford to pay. These customers desire a cheaper grade of products.
2. Those which are made solely for the sake of argument. Many customers think it is their duty to make many objections in the course of buying, and their most frequent objections are to price.
3. Those objections which are made with all sincerity. The customers object because they sincerely believe that the prices are too high for the products. They are sincere in their objections, and believe in what they are saying.

When an objection is made to price, you should be able to tell to which class it belongs. If the products are too expensive, you should be able to read this, and to judge what the customer is able and willing to pay.

Many salespersons can’t tell this kind of price objection, and continue with presentation to prove that the price is satisfactory from the point of view of quality. This is not the cause of the objection made, and the customer knows it. If the customer can afford to pay the higher price, in a few cases you may be successful. If this is the case, you should know it, and continue to sell with that in mind. On the other hand, if the customer can’t afford to pay the higher price, the sale is lost.

Great number of sales people are not able to distinguish between these two classes of customers, and they wonder why they are not more successful. Let me give you an example.

Recently, I was shopping for a Christmas present for my spouse in a big retail store where I witnessed a conversation among the customer and a saleswoman.

The saleswoman showed to a customer a nice dress with a higher price tag. The customer said the price was too high. The saleswoman thought that she meant that there was not a value in the dress priced higher. Arguments were used to prove that the price was not too high considering the quality of the dress.

The customer repeated that the price was too high, and added that she wished to see something less expensive.

The saleswoman even then did not understand the reason for the objection, and continued with arguments to show value. Eventually, the customer went out without buying. The saleswoman wondered why she did not make the sale.

If she had been able to read human nature, she could have told that the objection was because the price was higher than the customer could pay. This being the case, the sale under ordinary circumstances would have been made if a products of lesser value had been shown.

Next time when you hear a price objection from your prospects, try to understand to which class of this three this objection belongs and than try to handle it properly.

How to Handle Price Objections is a post from: The Science and Art of Selling by Alen Mayer

www.youtube.com/watch?v=O0fQkYXHAK0

Please take the time to watch this video in it’s entirety.; you will be moved. If you like what you see please share the video any way you can.

The Greatest Speech Ever Made is a post from: The Science and Art of Selling by Alen Mayer

1. I’m not interested.  Create interest by telling a short anecdote of how someone else benefited her home/work/play by using your product.
2. I don’t  have enough money.  Quickly recount how using this product saves money in the long run by  improving the client’s health, saving  his time, or increasing his influence.  State dollar examples of savings gained.
3. I don’t need it.  Be alert to the needs of the customer.  Don’t try to push more on the customer than she needs.  Does she need more space, more time, better methods, or just the basics?
4.  It’s too much hassle to set it up (such as a new phone, exercise equipment). Offer to set it up for him, according to your company’s regulations.  
5. My old one is good enough.  Make sure your client has product knowledge. Teach her the new features as you promote the latest device or service.  Discount it. 
6. Another company has a better offer.  Don’t say “no” to the customer.  Provide an in-store coupon, a sample, a gas card, service, delivery, or warranty.  Give people what they want.
7. I can’t decide.  How to handle objections involves eliminating excess information.  Narrow down the decision to two or three options and focus on the best selling point of each.  Offer your personal preference, if the client asks.
8. I’ll think about it.  Don’t let the client leave without providing specific facts and figures with which he can compare.  Tell him what day and time you will personally be available to discuss it again.
9. It’s not exactly what I want. If you are going to make a sale, you must know how to handle objections like this one. If it is not in stock, order the closest approximation to your client’s need. 
10. It’s just not for me. Show proof that having your product gives your customer greater advantage, potential, and possibilities than not having it.  Be honest, but do what it takes in devising how to handle objections.  Let your client know that you will make it happen for her.

10 Ways to Handle Objections Effectively is a post from: The Science and Art of Selling by Alen Mayer

As a sale representative there are occasions when you will face opposition from a prospective client.  This article will provide you with some specific tools and guidelines to use when you are faced with the dilemma of how to handle objections.

How to Handle Objections Using Listening Skills is a post from: The Science and Art of Selling by Alen Mayer

However, there are a few time-proven methods that sales reps can use to overcome this objection. Here are a few of them:

1. Stop the objection from coming up in the first place. If the sales rep asks the right questions, shows passion, appeals to the client’s emotional hot buttons, demonstrates product knowledge and creates excitement, a lack of money will not be a deal killer. The funds will be found. Seldom is it that money stands in the way of people who really want to do something.
2. Frame the price in relative terms. This begins by researching the market and seeing what the competition is charging. If the price your competitors charge is higher, contrast your price. If their cost is lower, emphasize the unique selling proposition of your product/service and quote a higher price than your product/service sells for – then immediately let your client know that they can purchase it for a reduced price. This approach will sound like a bargain…and who can resist a bargain?
3. Drive home the cost of not buying your product/service. This means educating your client on the benefits of your product/service, and the rewards that they will reap by buying now. This begins with the sales rep having detailed product knowledge, then illustrating the savings of time and/or money that your product/service can offer your client.
4. Know your client’s deepest concerns, and explain how your product/service will solve them. Become familiar with the business and industry your client is in. What keeps them up at night? How can they gain a competitive edge? How can your offer make their life easier? Once you have answered these questions, it is then only a matter of presenting your offer as a way of solving your client’s problems and thus making their life easier if they accept your offer.
5. Remove the price from the conversation and qualify them again – “Let’s forget about the money for a second – do you see your company benefiting from this product?”

Keep these points in mind, and remember that it is all about the client – not you! If these ideas are presented correctly, many price objections will be overcome.

5 Ways to Handle Price Objection is a post from: The Science and Art of Selling by Alen Mayer

Click on the link below for the list of 25 of the most powerful thought leaders in the world of sales management, lead generation, and more.

I am honored to be on the same page among so many sales legends!

Top 25 Sales Influencers for 2012 is a post from: The Science and Art of Selling by Alen Mayer

To see a fresh approach about how to handle objections during a sales presentation, smart sales professionals can take lessons from smart politicians.

You share a lot of goals with them, but they have one big drawback that most marketers never face; the politician has nothing real to give the person at the time he is seeking something quite real from them, like money, votes and support.

The politician takes a four-step approach to handling challenges.

First, listen to the objection carefully. Don’t rush to meet the objection head on. Don’t let the fact that the question interrupted your momentum and the flow of your presentation annoy you into a curt or dismissive comment. The best approach in how to handle objections always begins with the phrase, “Yes, and….”

Next, refine and narrow the question with your own questions. This uncovers the real scope of the objection, as opposed to only rhetorical challenges. It also exposes and isolates the person who is simply opposed to your presentation on general principles, as distinct from the person open to compromise and persuasion. You can restate the question, but never distort or minimize it. This is a tactic used by desperate meeting facilitators and hard-sell artists, and most people recognize it, even if only unconsciously.

There’s a point where you want to suggest a “lay all your cards on the table” approach which gives you clear targets and paints the challenger into a corner with his own words. This is key to how to handle objections, because once his points are addressed he cannot honestly bring up new ones. “Is fuel mileage your only concern with this car, or do you just not like its looks?”

By now you should be seeing a solution. Use positive phrases, such as “Yes, that is a very important question that leads to an equally important point we are making about our product…..” Most politicians have a deep supply of such stock phrases they can roll slowly off their tongues when most of their brain cells are working quietly on the final details.

Finally, frame your answer in the form of a solution for everyone. Stress what you give up, like a discount or an added feature. You’re being reasonable and more than generous, so invite the challenger to do the same. Seek confirmation that your answer is understood and accepted.

How To Handle Objections Like The Politicians Do is a post from: The Science and Art of Selling by Alen Mayer

• Reading From A Script. There is nothing more boring to a prospective customer than to pick up the phone and hear the caller (after usually miss-pronouncing their name) to launch into a written script. This screams of a complete lack of professionalism, as well as making the customer feel like just another name on the list, rather than as someone special.
• “You have been selected”. This dreaded cliché sounds as phoney as it is. Think about it. Why in the world would the customer be selected by a company that has probably never done business with them before? Is it the customer’s lucky day? They usually don’t think so.
• Lack of Passion. This is related to script reading. Many callers sound like they are human zombies, just going through the motions. If there is anything to cause the customer to hang up, this is it, and this leads us to the next mistake.
• Failing to connect emotionally with the customer. If the caller sounds bored and mechanical, the listener will pick it up. After all, if the caller is not excited about the offering, why in the world should the potential customer be?
• Giving opportunity to say “no”. Anytime the caller asks the prospective customer a question, there should never be the opportunity for the customer to say “no”. For example, instead of: “Would you like to have one of our sales reps come out next week?”, the correct question should be: “Our reps will be in your area on Tuesday and Thursday. Which day is more convenient for you?”. This gives the customer a choice, and produces far superior results.
• Not targeting the calling prospects. Working off a random list should be avoided if at all possible. If the target list can be narrowed to customers who have bought similar products/services in the past, the calling campaign will be more successful.
• Not doing it. This speaks for itself. To succeed, the callers must make the calls. It is really that simple.

Avoiding these mistakes will make cold calling a profitable activity for your business.

Cold Calling Mistakes: Top Tips To Avoid is a post from: The Science and Art of Selling by Alen Mayer

The first step in fighting the fear of cold calling is teaching yourself to not take the calls personal. In this business you will encounter rejection all the time, but the key is knowing that the consumer is rejecting the product or service, not you personally! Once you understand how to separate yourself from the product/service, you will gain the confidence you need to press forward and handle each call accordingly.

Focus on the positive not the negative. Every time someone rejects the product/service, just look at it as an opportunity to make room for those customers that are interested and/or are willing to buy. If you think about it, sometimes the only real way in distinguishing your buying customers is to weed them out from the non-buying ones.

What are some tips on what to avoid when cold calling? What can you do to fight the fears? When it comes to motivating yourself to do more cold calls it can be a challenging task. Here are some tips on finding motivation:

Adopt a powerful physiology. Did you know that your body & mind are connected? If you’re frowning, having a bad day or feeling down, this physiology can influence your attitude. Believe it or not but you can bring out that negative energy or lack of enthusiasm to your prospect via the phone. For tips on building strong physiology…try smiling, standing up, shaking your body out, stretching, taking deep breaths, sitting up straight, etc.

Visualize total success. Your attitude will reflect whatever you’re focusing on. Free yourself from distractions, don’t get sidetracked with less important business and focus on the positive. Visualize a time when you closed a big deal and focus on that energy.
Rehearse your script. Words are powerful and can make or break a deal. Be confident & knowledgeable in what you’re saying.
Be realistic with your goals. In the end remember it’s all about the customer.

Due to today’s economy not only is there a limited client base, but the competition is fierce. Fighting your fears of cold calling & finding inner motivation are crucial keys to your success.

To learn how to fight your fears (not just in sales) get the Audio CD: Fight Your Fears, Worries and Frustrations in Thirty Lessons.

How to Handle the Fear of Cold Calling is a post from: The Science and Art of Selling by Alen Mayer

Epictetus (55 AD-135 AD) said, “He is a wise man who does not grieve for the things which he has not, but rejoices for those which he has.”  I believe the optimum state of mind to accomplish any achievement is gratitude.  It doesn’t matter what your status is, what you have or don’t have, there is always something to be grateful for. George Burns, in his mid-90s, said, “At my age, I’m grateful to be still breathing.”  For a salesperson, what’s significant about gratitude is that it’s impossible to feel discouraged or sorry for yourself if you’re feeling grateful.

Do you have a spouse you love and who loves you?  There are widows and widowers out there who ache for their lost love; I know a few, they’re friends of mine.  Do you have children?  Are they healthy?  Think of the millions of depressed women whose wombs are barren; or the grief-stricken parents of a critically ill child, who desperately go from the ICU to light a candle at church.  Are you healthy?  My grandmother, born in 1888. on a farm outside of Minsk, used to say, “If you don’t have your health, you have nothing.”  Smart woman, my grandmother.  Do you have adequate shelter?  The homeless do not.  Do you have enough to eat?  The hungry do not.  Were you educated?  The illiterate were not.

The things to be grateful for are endless, are they not?

Isn’t it simply a miracle that you and I are alive on this earth, with limitless opportunities to live life to its fullest?  Just to have known love was worth the price of admission.  It makes me want to get down on my knees and give thanks to the Powers That Be for every day I’ve been blessed with, for all the wonderful people I’ve been blessed with.  When I’m told to have a nice day, my standard response is “I woke up this morning; it’s already a nice day.”  How about you?  Do you appreciate all your blessings or just take them for granted?

Have you ever heard about the man who complained about not having shoes…until he saw someone in a wheelchair without feet?

Here’s an exercise for you: create a gratitude list; write down everything you’re grateful for. You may stop at a hundred, but go to a thousand if you like.  At the top of my own gratitude list are the health of my wife, three children, and three grandchildren.  I once made a promise to never take their health for granted.  I made that promise on a Saturday morning in February, 1997, in the CAT-scan waiting room at Lutheran General Hospital.

On a Sunday evening six days earlier, I had deplaned in Atlanta, gone to the bathroom and was shocked out of my wits to see blood in my urine.  It happened six more times before I headed home Thursday.  I have no excuse why I didn’t listen to my wife and immediately go home; not one of my more prudent decisions. Nicki had set up an appointment with the urologist for Friday, but I went directly from O’Hare Field after my plane landed.  The doctor examined me, said there were a number of possibilities, and then sent me to the hospital for an IVP x-ray.  When I was done with the x-ray and about to leave, the technician told me the urologist was on the telephone.

“I’m sorry to have to tell you this,” he said, “but I’m afraid I’ve got bad news—it’s kidney cancer, not much doubt about it.”  He suggested I return to his office so a surgery date could be set forthwith.

Kidney cancer—it sounded so ominous; I contemplated my mortality.

“Do not ask for whom the bell tolls,” Hemingway wrote, “the bell tolls for thee.”

There was little doubt about the diagnosis, but the urologist wanted a CAT scan to be 100% sure.  So that’s how I wound up in the CAT-scan waiting room early Saturday morning.  Nicki and I were alone except for a young couple and their two-and-a-half-year-old daughter—a real cutie.  They sat directly across from us.

Nicki nervously explained why we were there; the little girl’s mother explained why they were there: their daughter had developed a rare cancer when she was six months old, and periodic CAT scans had become part of their routine.

Six months old!  A baby, for God’s sake!  I fought back the tears—for both of us, but especially that beautiful child and her beleaguered parents.  I ached for them.

I tried to imagine what it must have been like for the mother and father to cope with such an Ordeal—hell, still were coping with it.  How did they manage it?  A baby whom you couldn’t communicate with, explain things to; how could they watch her suffer so without going stark-raving mad?  I couldn’t do it, I thought.  I couldn’t possibly deal with something so devastating.  Surely I’d collapse and die.

I felt a surge of gratitude that I had the kidney cancer, not one of my kids.  I took that CAT scan feeling like Lou Gehrig—“…the luckiest man on the face of the earth.”

There is always something to be grateful for.

It’s impossible to feel discouraged or sorry for yourself if you’re feeling grateful.

There’s magic all around you; take notice of it, never take it for granted.

Smell the roses!

Emerson said it so well:
For each new morning with its light,
For rest and shelter of the night,
For health and food, for love and friends,
For everything Thy goodness sends.

Be grateful and inevitably you’ll have a lot more to be grateful for.

The salesperson who has a heart full of gratitude sells a lot more than the one who doesn’t.

About the author: Robert Terson spent 40 years fearlessly selling advertising to small businesspeople; his passionate purpose as an author and speaker is to enlighten and inspire you to be a far better salesperson than you are now. Check his blog here: www.sellingfearlessly.com

Guest post: The Power of Gratitude by Bob Terson is a post from: The Science and Art of Selling by Alen Mayer