When objections like “it cost too much” come up it’s important to deal with it in a simple manner. The easiest way to do this is for you to have a proper understanding of the real intention and meaning behind the objection.
Remember, an objection isn’t a no. It could be that they need additional information or that they are just not interested or it’s an excuse for some reason. Personally, the best way of dealing with sales objections is to not have them in the first place, but should one come up, at least you will know how to deal with it.
It Cost Too Much
When a buyer says to you that “it cost too much”, what are they really saying to you?
The first thing I would recommend is to not assume it’s meaning but to investigate what the buyer is actually saying.
It’s also better not to lead the buyer to an answer that will influence them on your way of thinking. A standard question asked by sales professionals when they hear it cost too much, is: Compared to what? You’re assuming that they have another price and if they haven’t you may have just given them an out.
What does it mean when a buyer says, it cost too much or it’s too expensive?
- Does it mean it’s more than they can afford? or
- Is it over their budget? or
- Is it more compared to another quote or proposal? or
- Is it just a smoke screen (excuse) because they want to get another quote or maybe they just can’t say no?
Coaching Your Buyer On The Objection
You can “coach” your buyers to overcome sales objections, which is completely different from the old way of handling sales objections.
Ask open-ended clean questions that will make the buyer elaborate on “their” thoughts without them being influenced by your way of thinking. The more they talk the more information they reveal to you in which you can use to overcome their objection and close the sale.
Buyer: It cost too much.
Seller: Really? (sound surprised)
Buyer: Well, it’s too expensive.
Seller: What do you mean?
Buyer: It’s more than I expected.
Seller: I hear what you are saying, I’m just curious as to what you thought it was going to cost?
Buyer: I really didn’t know, but it’s more than I thought.
Seller: You must have had an idea as to the cost?
Buyer: Well i thought it was going to cost $__________.
Now that you know what they thought it was going to cost you can now work with them to come up with a solution like financing, or helping them see the value of going ahead even if it’s more than they thought, etc.
Make Sure You Get All The Objections Out and On The Table
Make sure that this is the only objection so they don’t keep throwing objections to you one after another. You can do this by saying something like: “Other than ______________________ (repeat back their objection), is there anything else than you are concerned about or holding you back from going forward?”.
If they tell you another one, then write it down and ask the same question: “other than…….”, until there is no other objections or concerns. Then start dealing with them, one after another.
It’s better to present in a way that objections don’t come up
Get a copy of my ebook “Objection Free Selling”, which will teach you how to present so you won’t get objections.
Don’t sell to your prospect, coach them by asking questions so they can come to their own conclusion!
Contact me to learn more and be the best sales person out there.