Clients Say, "How much is it?" and You Say... | Sales Objection & Objection Handling
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When a prospect or client asks, "How much is it?", the first thing you have to pay attention to is WHEN they're asking.
If you give your pricing too early, your prospect will tell you that your price is too high.
The reason you might experience this sales objection so early in the sales process is that the prospect might view your product or service as a commodity and is shopping around for the lowest price.
A simple sales technique to counter this objection is to explain you need to understand the prospects' pains before you talk about a solution.
Once you get a good understanding of the prospect's' pain and feel confident you can solve their problems, the next step is to uncover their budget.
It's essential to get a prospect's budget before you talk about the pricing of your solution to make sure you're delivering a price that's acceptable for both sides.
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About Patrick Dang
Patrick Dang is an international sales trainer who started his career at Oracle in Silicon Valley and quickly became on the top performers in North America in just one year.
After gaining experience in both the enterprise and startup world, Patrick began sharing his knowledge of modern sales students around the globe.
Since then, Patrick has trained over 50,000 students across 150 countries on topics on how to start a career in sales, business development, lead generation using cold email and LinkedIn, cold calling, and sales skills.
Ultimately, Patrick's vision is to inspire others to make a living from their passions and provide the knowledge and tools to make it a reality.
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Пікірлер: 29
This is absolutely wicked. 🎉
I watch all your vids, you’re consistent and clear thanks a lot and keep up the great work
@patrickdang
2 жыл бұрын
Glad to hear it
Learn how to generate more leads with your dream clients and close more deals by joining the Ultimate Online Sales Masterclass Sales Legacy OR Watch our Free 1-Hour Training: www.saleslegacy.com/
Pretty good video... about the sales objection..many times clients don't use to share their ballpark budget and only willing to hear from us. So even after understanding their needs, pains, concern got a rejections. Behind that I assumed that in many cases they might think us either over budget or cheaper (with low quality) whereas we would be offering fair price. Due to different in economy of different countries for one a price can look cheaper where as other's may feel it expensive.
@patrickdang
4 жыл бұрын
Hey Mehul, thanks for your insight. It's true that a prospect may not always be willing to give you a ballpark figure for their budget. In that case, usually what I would recommend is pricing on the higher side, but not high enough where it offends the prospect. From there, you can see how they feel about it start the negotiations process if they want to move forward. And of course, different countries have different currencies so I'm sure you already know to keep that in mind.
@jollygoodyo
4 жыл бұрын
Hi Mehul. In situations like that what I'd normally do is to ask if they've had experience purchasing something similar in the past and how their experience was with that product. Then you'll roughly know what questions to ask to dig deeper and you'd also know roughly how much this company can afford.
Thanks! Great video! What to do when your product doesn't have a different price...??🙏🏽
Thank you for valuable videos Patrick. What would you reply to prospects that say “we are all set”? Thank you
just getting some interviews to get my first SDR jobs, your videos are absolutely amazing and helpful for me and gets me excited for the career ahead!
@patrickdang
3 жыл бұрын
Awesome to hear, Brian. Wishing you the best!
@nigeldsouza6088
2 жыл бұрын
Which country are you from? And how much does a SDR make there? Just wanted to know since I myself am a SDR in india
@peiliancui9987
Жыл бұрын
Good job very helpful
Great Job
@patrickdang
Жыл бұрын
Thanks for watching.
Most prices though are fixed. If a program is $5k, and the prospect has a budget of $2k, it's not fair to go down to that when there's plenty of people willing to pay the full price. If by the time we are done with our conversation, if they do not see the value in what I'm offering for $5k then that's my bad. Adversely, if they find my rate offensive then that's their money block issues.
Sweet video. My number one objection would be handling "my business/firm has a lot going on right now. Can we revisit this in the future?". And then not having a definite follow up date even when asking. Pretty tricky situation. How do you handle it?
@patrickdang
4 жыл бұрын
I hear you Zeeno! This is something I’ve come across myself in the trenches as well so look out for a video handling this objection in the near future~
Hey Patrick, How are you doing? Just want to request you not to use background music when you explain things as it is distracting sometimes or put the volume too low.
@patrickdang
4 жыл бұрын
Thanks for the tip, Dimat. I was actually thinking the same. I'll put the volume lower on future videos.
What are your best skill advise for inbound sale retention?
how do you respond to how much does it cost when dealing with consumer goods?
My biggest sales objection is getting leads to book meetings for the call. I use cold email and LinkedIn but it is not working effectively.
hi Patrick, I appreciate the tips. what about if the products i'm selling is commodity? i mean my competitors are selling them too. Typically, most people called are just about checking up the prices.. cheers
@patrickdang
3 жыл бұрын
Think about what level of service you can produce beyond price. Some examples: ease to work with, trust, guarantees, speed, etc.
@sayatidakpunyaemail
3 жыл бұрын
@@patrickdang but if we havent deal on the pricetags, how to demonstrate to prospects that we are easy to work with or other values? Anyway,thanks for the inputs and feedback. Appreciate it
Hi Patrick Dang, What is the best way to repsonse if customer ask if there is any discount?
@patrickdang
3 жыл бұрын
Anchor them at a higher price, and then when they ask for a discount, give it to them in exchange for something. For example, closing by a specific date.
goood