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Handling the Price Objection

By Ann Barr

Every now and then you hear a statement or read words that really make you stop and think.

First:  Thank you to Patrick Martin at Base Wright-Moore in Indiana for allowing us to share this with you.

Patrick participated in our last online seminar. During the third week of the four-week seminar, everyone was asked to write their most effective response to a price objection.

Patrick’s response was unique because it accomplished three important objectives.

   (1.)  This response let the customer know Patrick was not going to be defensive and was not going to argue.

   (2.)   The answer to his response gives him information about the competition.

   (3.)   The statement and the question put Patrick in the position of being more like a consultant and not a sales person.  Even though we love to buy, we hate to be sold.

(It is important to know that Patrick has spent years developing solid relationships with his customers. They trust him.)

A Very Effective Answer

Whether you can use this or not depends on your particular situation.

Customer:  “I can get it at a lower price.”

Patrick:  “Well, our costs do change every time we receive new inventory.  We will have to keep an eye on that one.  Who has it at that price?”

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