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

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

Action Step

In order to create desire for your products, you need to believe in the product itself. Your feelings about the product are easily picked up on by your client. So, if you feel anything less than passionate about what you’re selling, your client will know that straight away. You need to ensure that you’re selling a great quality product or service and let your enthusiasm for that shine through in your presentation. If you love it, creating desire in others will be a piece of cake!

Answer These Questions:

• How could you create desire for the product that you sell?
• Are you enthusiastic about the product that you sell? Would you use it yourself?

*Take a look at these sales jobs from Jobboom, a supporter of this site.

Sales Tip #40: presentation secret is a post from: The Science and Art of Selling by Alen Mayer

Stop selling and start closing.

Right here I want to make a distinction: a big one. There’s a distinct difference between asking for the order and trying to take it. The salesperson that asks for orders says something like this, “Do you want to buy my product?”

In doing so the sales professional does two things wrong. First of all, it invites a negative answer, and makes it easy for the prospect to say “No.” Secondly, a definite “No” to a question of this kind can end the meeting. A decision has been passed; you’ll have a real job trying to get your listener to reverse it.

Here is the right way to try for the order. When you feel that the time is ripe, act just as if your prospect had verbally said, “Yes”. Start discussing terms, details of delivery, or something that comes after the order is placed.

There are so many closing techniques, and I will give you here on my blog an example or two, like Alternative Choice Close or Assumptive Close, but more important message I am trying to send here is this one: Never forget to ask your customers for the order. Never.

As an illustration, you’re selling a new organic breakfast cereal to a grocer. You’ve made your talk; you feel that the grocer is ready to buy. Instead of asking the grocer to purchase, you take it for granted that the grocer is going to and swing right into the details of taking the order just as if the grocer had verbally said “Yes.” You’re making it hard to say “No.”

In the full realization that a fifty boxes order would be a large one for the one you’re talking to, you say, “You’ll want at least a hundred boxes, won’t you?” Now if he is ready to buy, he’ll come right back with “No, I will only use forty boxes at a time.” If he’s undecided: half for and half against – your suggestion as to the quantity – the mention of one hundred turns his mind from the question of whether of buying or not to the amount the grocer will purchase.

Do you see what that method of procedure does? It gracefully and easily passes the decision point, and moves you right down to actually taking the order.

On the other hand, suppose your judgment was wrong; suppose your prospect is not ready to purchase. If you had come right out and asked for a definite decision you would have received a “No” and that would have pretty near ended the matter. But a “No” to the quantity question does not mean an adverse decision to the entire proposition. It leaves you free to pick up your selling argument again and reinforce your statements until your prospect is ready to buy.

The Last Step – Closing The Sale is a post from: The Science and Art of Selling by Alen Mayer

The cry of “hard times” is heard at all times, and not just in these hard days and that is where you should refresh your knowledge of how to handle objections during your sales process.

“Times are too hard, I can’t afford to buy anything“ – how often have you heard that in the last few months?

This objection is made during the most prosperous times, as well as during periods of financial depression. Customers are confronting sales people all over the world with this before even they had a chance to show them the products, or tell them how they can benefit of them.

It is seldom, however, that the objection is made seriously. Oftentimes prospects don’t have anything else to say. They don’t mention it seriously and don’t expect you to take it seriously.

So what to do?

Pay no attention to the cry of potential new recession!

Don’t forget that you create the value through how you’re selling, not just through what you’re selling. You can create the value in each step of sales process, but the most value can be created early in the process by helping customers to define their needs (use trigger events!).

Here is the list of 10 things to do:

1. Go back to prospecting and find customers who want to buy in any market, and spend your time only with the decision maker.
2. Use open-ended questions, use clarifying questions, and remember that great questions produce great answers.
3. Make it easy for customers to say “yes”.
4. Ask for the order. Ask for the order. Again, ask for the order.
5. Use direct questions such as: “Are we ready to move on this? When can we get started? Shall I write up the order?”
6. Use active listening skills. Ask for the feedback.
7. Remember to read buying signals.
8. Don’t forget to send a thank you note.
9. If you get the sale, send them a note thanking them for their order.
10. If you don’t get the sale, send them a little note thanking them for taking time to meet with you.

It is intelligence that makes times easy, and it is the lack of intelligence that makes times hard. Go back to basics. Invest in your knowledge and sharpen your skills, that is the best way of not buying the cry of “hard times” from your customers.

Going Back To Basics – 10 Things To Do is a post from: The Science and Art of Selling by Alen Mayer

You might account for that by saying that this type of salesperson does not “feel” when the prospect is ready. But that is not a fact. They do feel it, but they figure something like this,

“I’ve got them coming now, but if I try to get an order they may say no. I’ll just keep on selling and make the thing a little surer.”

And in making it a little surer they lose out altogether.

Most of us hesitate to face a crisis. We are afraid of an adverse decision. That is largely why some people oversell their prospects. But no matter how diffident you feel about it, and no matter how great your hesitation, the secret of success lies in driving in and bearing down for the order just the second you feel the time is ripe.

And if you follow the rules, you’ll get the order.

Here they are:

1. Bring your prospect to the buying point.
2. The minute you feel the prospect is ready try to take the order.
3. Don’t directly ask the prospect to buy. Without giving offense, take it for granted the prospect is purchasing and start settling up the details just as if they had verbally said “Yes.”
4. If they are not ready to buy, drop your purchase order form and start selling them again.

And remember, no matter how you interest your prospect in your approach – no matter how convincing your presentation – no matter how strong his desire for your proposition, all the work that has gone before is wasted, and absolutely lost if you fail actually to get the order.

Someone said once, “Ask, or the answer is always no”. If you don’t ask for the order, rarely you will receive the business and commission you desire.

The Mistake of Overselling is a post from: The Science and Art of Selling by Alen Mayer

Selling is therefore a process in which you need to follow certain steps, one at a time, to reach your final goal – the sale itself. Your sales process will also depend on your efforts invested in research and understanding your customer base, together with your energy and enthusiasm about your product.

Sometimes you can skip some steps if the customer is giving you signals to move further, faster. Otherwise, it solely depends on you and your readiness to be prepared before contacting the prospect.

If we simplify the whole sales process we can agree that there are four major steps in sales:

1. opening/qualifying
2. information gathering
3. presentation of your proposal, and
4. closing.

Opening phase is usually a result of a cold call to someone who has not yet heard of you or thought about working with you.

Information gathering is a second step when sales person is asking customers what they do, how they do it, and why they do it that way. Then he/she ask how his company can help them do it better. Usually second step means getting the meeting or presentation opportunity.

Proposal is next step when sales person is giving the presentation based on the gathered information, and giving the recommendation or meaningful solution to solve their pains, issues, or needs.

When customer decides to buy that is a fourth step in sales process and the only step that actually counts – closing the deal. This means they see the value in your solution and you assisted to buyer to make a decision based on information you provided.

When you don’t close the deal you did not completed your process. It is very similar to playing baseball when you get to the third base but never reach home and score; in sales this means you have gone through three steps but on the end you didn’t engaged buyer enough to see the value in your solution.

You didn’t address their needs that will trigger a buy to happen (Trigger Events, anyone?). You have wasted your time and your customer’s time, and there is hardly any chance of getting back to that customer to try to sell again.

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The Four Major Steps in Sales is a post from: The Science and Art of Selling by Alen Mayer

If you as a salesperson exercise no influence whatsoever upon the mind of your customer, but the customer does all the deciding, you are not a real salesperson. You are an order taker. (Please read my article: Are You an Order Taker or an Order Maker?)

There is a certain proper influence that every mind may have over every other mind. This influence arises from strong personal character, from a knowledge of products and services, and from a knowledge of the science of selling.

Your character, knowledge, and abilities can be improved and strengthened in the interest of your work (and career as a salesperson). First, let us clearly understand the distinction between proper mind-control, and hypnotism or other forms of mesmeric influence.

Proper mind-control

If you arrange your thought and presentation logically, so as to lead your customer into the proper attitude toward your products or services, you are well within your rights. So is the salesperson who introduces new and overwhelming arguments, and he who studies methods of so impressing his personality on a customer as to inspire confidence.

Certainly you can’t justly criticize a salesperson for studying his customer’s face and manner in such as way as to find out the exact minute when he would be most likely to consent to a purchase, or for any other studious effort to learn exactly when to urge his strongest points. The salesperson must learn when his argument is at its best, and, conversely, when the customer’s mind is in its most receptive condition. That is the minute for action. You must be able to recognize it when it comes, and must practice every possible method of bringing it about. You must compel the buyer to minimize any objections in his mind and to become enthusiastic over the advantages that you have presented.

This is proper and legitimate mind-control. It has nothing to do with hypnotism, mesmerism, making a sale to an intoxicated or demented person, or any other unfair method of taking advantage of an abnormal condition of the buyer’s mind.

The following are examples of legitimate mind-control:

1. A salesperson finds a buyer opposed to his product because he does not understand its features (and benefits). A simple explanation of benefits compels the buyer to change his mind.
2. A salesperson finds that a buyer is impulsive and enthusiastic. He therefore describes his products enthusiastically and secures the order “on the spur of the moment.”
3. A salesperson finds it difficult to secure the buyer’s signature to an order. He watches his customer’s face until it shows a keen interest, then hands him pen and paper with a request to sign, at exactly the right moment.
4. A salesperson learns that his customer is inclined to favor those salespeople for whom he has a personal relationship. He therefore cultivates a feeling of friendship between himself and his customer, and uses it to secure an order.

These are simple examples, but they make the meaning clear. You will no doubt be able to add many similar examples from your own knowledge, such as the use, at the proper time, of the names of well-known customers of yours.

The formula for developing a mind control is very simple.  It is a study of the five senses and the manner in which they influence the mind, and a constant effort to apply in practice what you have learned.

Next post in this series will be about using the five senses in selling – please subscribe to my blog to be notified when a new post is published.

Mind Control in Selling is a post from: The Science and Art of Selling by Alen Mayer

Closing should not be a separate event from the rest of your presentation – it should be integrated into the proposal and it should flow naturally and easily. But, just like the rest of the process, closing should be planned. There are many closing techniques and you need to master them and keep them stored away for future use. You can adopt any one of these closing techniques at any time – select the one most suitable for your presentation. The secret of successful closing is not in the technique that you will use, but to know when to close.

The Trial Close asks for an opinion and not a decision. This way the customer can feel that he has not been coerced into anything – you’re inviting him into the conversation and encouraging him to share his opinion. This is not a normal closing technique, but more like a test to see if your customer is ready to buy.  Best time to use it is after you handled the objection successfully. Ask questions and close your mouth – don’t say anything else. Wait for response.

Some examples:

• “So the date you would be looking at starting our training would be September 6th?”
• “How do you feel about this product? Does it make sense to you?”
• “What do you think of (insert your benefit here)?”
• “How does that sound so far?“
• “Did I miss anything?”
• “What do you see as a next step?”
• “Is now a good time to send you the paperwork?”
• “When should we send out our technician?”
• “Do you like it?”
• “Could you see yourself using it?”
• “Let’s put aside the price – would this be the right product for you?”
  

The Trial Close tells you when to ask for the decision. If your customer makes the decision on a minor point, he will be able to make the final decision easier (the sale). Very often after asking the trial question, I am using 3F technique – Feel, Felt, Found – I understand how you feel, other felt the same way, and here is the solution we found…

(Shameless Self-Promotion: More closing techniques presented in a unique and refreshing way you can find in my book “Selling Is Better Than Sex.” Read more here: www.sellingisbetter.com)

Can you name the questions you are using ?

Closing Technique #1: The Trial Close is a post from: The Science and Art of Selling by Alen Mayer

The beauty of closing the deal in sales is that this actually does resolve problems. Sadly, when we refer to “closing the deal” in sex, this usually just creates more problems. If the final agreement did not end simultaneously, there’s a massive issue. If your pitch was anything less than perfect and sustained, then there’s a problem!

Every time you manage to close a sales deal, you feel great about having discovered the best solution and having resolved the client’s problem. You have that guaranteed satisfaction after every close.

Part of your sales job is to continually reassure your customer that she is making the right decision by purchasing. If you leave her hanging long enough, there will be time for doubt to creep in. Don’t allow that to happen. You are her support during the dealings and discussions and you need to remind her of that by being her ongoing source of reassurance. A failure to close the deal comes from an inadequate performance in other areas. If you let your game slip at any point in the sales process, you have potentially endangered the success of the deal.

When closing the deal, fulfilling your client’s needs (and helping them get a useful product) actually fulfils your needs as well. If the deal is heading for closure then both parties will walk away fulfilled and satisfied -simultaneously, every time! It doesn’t get better than that!

Helping your customers can actually be a very fulfilling prospect of its own. It’s an important role that you play in the client’s life as she depends on you for your level of expertise on the subject. The beauty of sales is that once you find a suitable presentation you can use that same pitch each time, simply adapted to the current client’s needs. And with such a successful pitch, you can easily close more than one customer in one day – and not feel guilty. You can close a different customer every day and not feel concerned about a tarnished reputation. Again, with sales, it all boils down to “the more the merrier”.

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If you are interested to learn more about the art of closing, get my new book “Selling Is Better Than Sex” – www.SellingIsBetter.com

Sealed With a Kiss (The Art of Closing) is a post from: The Science and Art of Selling by Alen Mayer