Ten New Strategies for Addressing "The Price Is Too High" as an Objection

Ten New Strategies for Addressing "The Price Is Too High" as an Objection | The argument that the price is too high is as old as humanity itself.

Ten New Strategies for Addressing "The Price Is Too High" as an Objection. I'm sure you can picture the ancient Egyptians employing this very objection as they walked around an open-air market and bartered with vendors. And if you concentrate even harder, you may be able to picture shady vendors lowering their pricing to close a deal. In the past four thousand years, not much has changed.

The good news is that there are several tried-and-true solutions to this age-old problem available today. The easiest way to recognise it is as a smokescreen masking a legitimate objection or an attempt to negotiate you into giving a lower price. The idea is to first isolate the objection and see what additional obstacles they can come up with before you discuss price in either of these scenarios. Examples of these are shown below.

The following arguments are divided into two categories: business-to-business and business-to-consumer. Examples of business-to-consumer arguments include investments, insurance, house improvements, and so on. In business-to-business transactions, the objection frequently appears more as a "budget" issue, but frequently businesses are searching for the best deal as well, so they will still try to negotiate a price with you.

Here are some fresh approaches to countering both pricing and budget issues. Choose the ones you are most at ease with, make them your own, and work on them until they come naturally. You'll feel lot more confidence after you know how to address it given the prevalence of this objection:

Ten New Strategies for Addressing "The Price Is Too High" as an Objection

Rebuttals from business to consumer:

"I can't afford that; it's too expensive."

First Reaction: We all have to stick to a budget, and I completely get that, but there is always a distinction between a buy and an investment.  With a purchase, the value typically goes down, so no matter what you spend - whether you can afford it or not - it's never going to appreciate or justify its value.

However, when making an investment like this, whatever you spend always ends up paying for itself over time or saving you money in the long run. And, don't you think it always makes sense to invest in yourself? "

[If Yes]

So here's what I recommend we do:

Respondent #2: "I appreciate your perspective, but let's set the expense aside for a moment. What other justifications do you have for not pursuing this at this time, other than the cost?

[Note: I realise it is a negative response, but in this instance it is advised because you are attempting to identify the objection and any others.]

OR

I acknowledge that, so let me ask: Are there any projects that, if cost weren't an issue, or, to put it another way, if they were more affordable, you might move on with today? 

[If Yes]

"That's great, but tell me where you got the money for this."

Respondent #3: The beautiful thing about this is that you can buy it with other people's money and benefit from it right away. We have two ways for you to do so, __________, and you've probably heard the expression "Other people's money."

Ten New Strategies for Addressing "The Price Is Too High" as an Objection

You have two options: either put this on your credit card and pay whatever you can until it's paid off, or take advantage of our introductory offer and put no money down while making payments that are interest-free for up to 18 months!

Which of those two possibilities do you prefer: in the interim, you get to (start enjoying/the benefit/the protection) of this (service or product) from day one?"

Respondent #4: You undoubtedly have some stocks or ETFs that haven't performed as well as you had intended. Because, as with all investment, you always have to ask yourself: what is working for me now and what could be working harder?

This is your chance to switch up those underperforming investments and invest in something that will not only help you catch up on lost time, but also outperform some of your higher-yielding investments.

What ideas do you have right now that you wouldn't mind using more effectively for you?"

Respondent # 5. I'd really like to work with you on this, so please help me to understand - to what specifically are you comparing this pricing? You know, I think you made a really important point when you said that the price is too high.

Rebuttals from business to business

We don't have the money for it because the price is too high.

First Reaction: "You're correct, and I know we're not the cheapest out there - and it's crucial that you heard that right - we're not the "cheapest" service on the market. And there's a very good reason for that: Let me give you the top three reasons why the quality you receive from us well outweighs the few additional dollars you'll pay today. "

Ten New Strategies for Addressing "The Price Is Too High" as an Objection

Second Reaction: Here's the thing: Once you start using our service, you'll forget all about the low initial charge since we're so confident you'll come to love the extra services and value we offer. And for precisely that reason, we provide our beginning bundle.

In fact, you'll discover that using our (product or service) over time not only saves you money, but also saves you time, and isn't that what you're interested in doing?"

Third Reaction: I said, "_________, if you really think about this from a business perspective, you'll soon see that this is actually something that you can't afford NOT to do, and let me explain why: If you don't put this (product or service) to work for you, while you may save a little money today, In terms of money, you'll be losing money tomorrow (lost revenues, cost overruns, lost sales and opportunities, etc.). As a company, you just

So here's what I advise: Finance this, just like every firm does. Put it on your company credit card, make the payments, write off the interest, and start making money from the additional sales and market share this will bring you. Just pay off the card while you're making money and retain the proceeds! Let's do this right away. "

Fourth Reaction: "Many business owners (V.P.s, etc.) initially perceive this as a cost, but if it increases your revenue and/or helps you retain your current clientele, doesn't it turn into an investment in your success? And that is how all flourishing businesses expand: by making investments in their operations.

Ten New Strategies for Addressing "The Price Is Too High" as an Objection

And right now, you have the chance to do just that. Therefore, let's get you going. "

Fifth Reaction: I get what you're saying, and let's just pretend that I could wave a magic wand and provide you the requested amount of money (or reduce the price to where it would fit within your budget). What additional excuses, if any, do you have for not at least thinking about putting this to work for you today? "

[At this point, pay attention for the genuine objection and respond accordingly]

The pricing complaint now has ten new options to be addressed, so be careful to pay attention to what the genuine objection is before using the appropriate script to address it.