Many price objections could be eliminated all together by being more in control of when we talk about money.
It is quite common for someone in buying mode to want to know the cost up front before deciding to continue the conversation. Yet in sales we need to manage the conversation so that we can build the value first before discussing costs. You also need to build the value in your proposals before presenting the costs.
There are many reasons for needing to do this but here are some of the more important ones:
You will lose their attention
If the price does not match their expectations then you risk losing the buyers interest or attention when there is a possibility that once they know what they will be getting they would be very happy with the price.
For example, if you needed brain surgery, would you be prepared to pay more for a specialist or would you take a risk on a generalist just to save a few pounds?
If you are able to present your solution including why they should trust you to deliver the solution then you have the opportunity to convince them that it is worth paying more to be certain of the result. They will not get that sense of certainty unless you get a chance to make your proposal.
They don’t yet know what the price includes
If you give the price first then they have nothing to compare it with and so it may appear to be expensive even though in reality it is a better deal than your competitors. You may have things included in your price that will save them time or money. Building the value and telling them what they get first means they can make a proper decision rather than getting a distorted impression of value.
For example, if you were looking at houses to rent and have a maximum budget of £800 per month you might overlook a great house costing £1,000 per month even though this ‘expensive’ house includes all the running costs and would actually work out much better value overall.
The reaction will be different
When we want something badly enough then our focus is more easily switched onto how to afford it rather than if we can afford it.
For example, ask a busy person whether you can have two hours of their time and it will be a struggle. Yet offer them a free, all expenses paid, 3 day trip to somewhere exotic and they would probably find the time.