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

• I don’t want to bother anyone
• They probably won’t be interested
• I don’t want to be yelled at
• I don’t like reading from a script
• I don’t really know what to say
• What if they act like they may be interested, but still won’t buy?

There are probably several other objections, but these are the common ones. The bad news is that these are real – and they represent potentially huge barriers for any company’s marketing efforts. The good news is that with a different way of approaching cold calls, this can change from a feeling of dread to a feeling of enthusiasm and actual anticipation – and this is not as hard to accomplish as it may seem.

The first and most important step is to realize that you are not bothering your prospective customers/clients. By not calling and introducing your products/services to them, you are really doing them a disservice.

Think about that. If you really believe in your company’s products and services, why wouldn’t you want to tell the whole world about it? Your customers need what you are offering, and cold calling is one way to make them aware of the benefits you can offer them. This is an important first step in changing the way you think about cold calls.

The next step is to put yourself in the position of who you are calling. They have problems; you have solutions. Why in the world are you hesitant to offer to help them by making their life easier? There is no good answer to that question. Once you have identified your targeted market, and what they are concerned about, the calls will begin to flow naturally, and the phone will no longer weight 10,000 pounds.

To help overcome the fear factor, ask yourself this: what is the worst, the very worst thing that could happen? You hear an obscenity and the phone slams down? BIG DEAL! If anything, you will learn to enjoy results like that, for the simple reason that those “No’s” are leading you to the next “Yes’s”.

As you can see, it all begins changing the way you approach cold calls. And that is totally under your control!

How To Approach Cold Calling is a post from: The Science and Art of Selling by Alen Mayer

www.youtube.com/watch?v=_Xcuv3uzWgU

Video: Daily Sales Tip #21 is a post from: The Science and Art of Selling by Alen Mayer

Plus, you’ll learn how to:

• Enjoy the foreplay (sales people call it the “Preparation Phase”)
• Get lucky more often by focusing your activities (in your search for new customers)
• Handle the situation like a pro if you get the cold shoulder (No Means No – or does it?)
• Master the art of “You Show me Yours and I’ll Show You Mine” (Presentation and Negotiation)
• Seal it with a kiss (The Art of Closing)
• Deal with the morning-after (Post-Selling Activities)
• Ask for help if you aren’t sure about what you’re doing (Yes, you can!)
• Hook up  (Build Rapport and Credibility – Develop the Relationship)
• Have happy endings

This e-book will provide you with more than 200 reasons why selling is even better than sex, and what you can do about it in order to improve your career and your life. This is not just another sales book – this is a revelation!

Order your e-book copy of the book now for only 12.95!

Note: This is an e-book (electronic book), not a soft-cover book. To get your soft-cover version of the book, click here.

E-book Selling Is Better Than Sex – Available Now! is a post from: The Science and Art of Selling by Alen Mayer

Consequently, through unorganized, hit-or-miss methods, his cost of selling is high simply because his methods are not as efficient as they should be.

This does not mean you shouldn’t use your instincts and training well. But it does mean that your sales assumptions must be based in a finding of facts, not guesses.

Using the dart game in the sales profession can lead to failure. You have limited time on your sales call to a prospective buyer and your darts must hit their mark. It’s even more crucial when you use the phone for your sales prospecting activities: many telephone sales calls miss their mark as being off-the-shelf calls that aren’t developed with a specific buyer in mind. Dartboard selling is a quick way to go broke.

Top notch salespeople advise that 75% of a successful sale is due to the pre-flight work. You must make sure you know what direction you want to go in, and you have to ask precise questions that will lead you to confirm needs you recognized through trigger events. You must know what direction to fly before your takeoff.

Most sales people out there are making a huge mistake meeting (or talking over the phone) with their clients unprepared. They think it is enough to schedule the meeting and they will work their magic and close the deal. They will try to break the ice with the customer by talking about the stuff in his office. Then the next misstep is to ask a few questions and not even wait for the answers, but to start with the same old sales pitch.

This kind of salesperson knows all the answers and few features and benefits later they will ask for the business. After hearing few “No’s” from customer they may give up and leave the office with the promise of a follow up a few days later. Unfortunately, the down side is that the customer will probably never return their calls.

Big number of sales people doesn’t take the time to have a conversation with their customers, because they assume that every other customer is like all the others. You will discover that your previous assumptions in sales were fatal many times. Keep those times in the past. It was necessary for you to learn a lesson every salesperson needs to learn, and now is the time to grow and develop your skills and knowledge. You will do so in developing your knowledge about trigger events. It is time to replace assumptions with research.

When you start learning how to recognize trigger events, rather than trying to assume or guess at them, will not only enhance your professional sales career and knowledge, but will increase your sales savvy to what the customer needs.

It is mind-boggling to receive a sales telephone call and the caller spits out a menu of mechanical words. The customer isn’t even, it seems, invited to be part of the conversation. It’s all about the need of the seller. Now when you contact your customers with information collected from recognized trigger events, you will have right questions to ask them, and all you need to do is listen to their answers and reshape your presentation accordingly.

Start with understanding customer’s actual situation and have their needs on your mind, but also find the way to put them on the market by making them realize their yet uncovered needs.

I hope you realize how often you barked up the wrong tree in your prospecting activities, talking to companies without the real need, following up and leaving numerous messages to someone who doesn’t see the value in your product. It is time to move on. Of course, at one time when we were starting sales, we all may have wasted our time that way, calling people from the long list of unqualified prospects we got from our manager, simply because they were in our territory or vertical market.

Now you will have a very powerful tool to change your approach to selling.

You have to understand the positioning of the company, what are they needs, does not matter if they are hidden or visible to public eye.

You need to do this ahead of the first contact as part of your trigger events research. You have to know the customer’s situation better than perhaps they know it, because at the time of presentation of your product, you will have their needs on your mind and prepare your sales presentation accordingly to information you hold.

Think value. Give to the customer what they ask for; give them what they need and more, drive the conversation to the customer’s wants and needs.
Impress them with the depth of your understanding of their position on the market and recent events that can trigger buying process, and they will sign on dotted line.

Very often you can hear how selling is a form of art, how sales people need to be creative and use their imagination, but I am not agreeing with that – sales is more science than anything. Yes you can use imagination and creativity, but after using tools available to you. With the proper tools and techniques you’ll replace guesswork with success.

Even if your company does not have automated system to generate new leads for you, when you learn more about trigger events, you will be able to find your next customer by your own. This will send the message to your manager that you care about your job and you really want to develop your career further, without waiting for someone.

Becoming best in team is an achievable goal and your self-confidence is growing as you establish a competitive advantage towards your colleges and towards your competition.

You don’t need to use old sales excuses anymore, like “territory is too small”, “need more training”, “inadequate sales tools”, “marketing provides no leads”, “we are over priced” etc.

Numbers of sales people who lose their jobs or miss their quota each year are not really important to you anymore, because you are more confident that you know what you doing in your sales role and all thanks to getting new customers from trigger events.

Now you are becoming a real Sales Professional. And it is a good feeling having control over your sales career, isn’t it?

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Get the book Trigger Events today and start selling to new customers tomorrow!

Hit or miss doesn’t work in selling is a post from: The Science and Art of Selling by Alen Mayer

Once you have a foot in the door, use the opportunity to the maximum. The focus should be on the benefits and value to be derived from buying your product. Place the spotlight on the client’s business and how his processes will be improved or how his revenue streams will be expanded by investing in your product. Your client won’t be sold by your persistence in the meeting. He will want to know the facts and figures about how he will benefit from your product. Respond directly to his needs and you will have his undivided attention.

Sales Tip #106 is a post from: The Science and Art of Selling by Alen Mayer

Do you add value to your customer’s business? Or are you simply another salesperson to be reluctantly contacted when there’s a need for a new product?

You can stand out from the crowd and flatten your competition by adding extra value to your customer’s business. If you can gain a great understanding of how the customer’s business operates and what his desires are for growth and progress, your number will be the first that he dials when he needs to upgrade or buy something new. By adding value and building a relationship of trust, you can rest assured that your customer will want your advice and will appreciate the expert knowledge that you have to share with him.

Set yourself apart from the rest. Become an asset to your customer’s business and you’ll see the difference it makes to your bottom line.

Do you add value to your customer’s business? is a post from: The Science and Art of Selling by Alen Mayer

Opportunities are everywhere. You just need to know where to find them and you always need to be on the alert for them. Such Trigger Events can be a springboard for your selling career and you need to be prepared to act on them as soon as they are recognized.

By staying on top of your game, you’re always going to be a step ahead of the competition. And if a company has an immediate need then you can be first in line to assist with that. Added to that, if a business has already discovered that they have a requirement for something new, it makes your position a much sweeter one. They have already identified their need. All you must do, at this point, is demonstrate your ability to provide them with the best solution. A business has already moved into the transitional stage is certainly easier to approach than one that has not yet identified its need for change.

When businesses are making changes it means that they are already primed for shifting into a new gear. With this pre-knowledge and some further background research into the business, you could arrive well-armed to present a winning solution that can assist in building a better business. When a business is moving through a transitional phase they are almost always ready to take on new opportunities and to make positive changes. Be ready to help them!

As always, your research and understanding before approaching the client, is going to be the crucial in your presentation. This is what separates you from the rest of the competition. By taking the initiative in being first in line and having the greatest insight into their business, you have put yourself into a powerful position. Now it’s up to you to reveal your expertise and divulge the finest solution that will benefit their business in the most efficient way.

You could make it part of your daily routine to check your local news (aka “the Grapevine”) for new information on potential clients. Always be on the lookout for Trigger Events that can open the door to new sales and new clients. It could be the action-injection that your career needs.

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If you want to learn how to find new clients by using internal and external Trigger Events – get my book today!

Use Trigger Events To Sell More is a post from: The Science and Art of Selling by Alen Mayer

Anyone can step up to the plate with a lower price. But not everyone can attend to their customer’s needs and specialize in assisting them effectively. If you are able to adequately identify your customer’s business requirements and provide the best solution at a fair price, then you have a winning formula.

There will be clients who will only be drawn to the lowest price. Those will be buyers that have little or no requirement for personal attention. Or, if they do, they haven’t realized it yet! Once a customer has been exposed to your expertise and your understanding of their requirements, you’re most likely to have formed a long-term bond with them. If your customer can come to trust your judgment and ability, you will have a customer for life!

Selling the best solution is not about having the lowest price. The best solution entails having a solid understanding of your client’s business and its needs. It entails sourcing and providing the best possible outcome that addresses those needs – at a fair and mutually-agreeable rate. Knowledge is the key to sales success! Anyone can sell something cheap, but not everyone can create an effective solution that actually benefits the customer and his business processes.

When a bidding war begins, the participants often lose sight of the end goal. The end goal is finding the best solution for the customer (at a fair price, of course!). Never get involved in a bidding war. You can be prepared to side-step that scenario by presenting a detailed and holistic solution that is well-researched. Show your client that he will get more out of taking your deal (even if your price is not the lowest) because of your knowledge and expertise that is specific to his requirements. If you’ve done your homework you’ll be able to produce the goods and present the winning solution.

To ensure your success in the sales arena, remember that knowledge is power. Knowing all that you can about your customer before presenting him with a winning solution, means that you’re a step ahead of those who are cold-calling and selling blindly. Walk the sales walk confidently. Gather your knowledge; conduct research; and sell effective solutions.

Offer the best solution, not the lowest price is a post from: The Science and Art of Selling by Alen Mayer