What is meant by Cost objections? answer in 2-3 pages
Answers
A price objection is a statement by prospects that they need to know more before buying. In “The Science of Successful In-Home Selling” we say price objections are a sign of interest. However, an objection doesn't usually come out sounding like a polite request for additional information.
Answer:
A price objection is a statement by prospects that they need to know more before buying. In “The Science of Successful In-Home Selling” we say price objections are a sign of interest.
However, an objection doesn’t usually come out sounding like a polite request for additional information. The moment the prospect voices an objection, they are usually sincere and will delay purchasing or decide not to purchase until that objection is resolved.
Unfortunately, price objections are the most misunderstood statements made by prospects. Average sales people view price objections as obstacles to a sale and believe what the customer is saying instead of accepting responsibility for the end result, which is why they are average. Whereas the pro sees an objection as the pathway to the sale and typically sells more than their counterparts. There is a saying in our industry: “A customer will continue to shop around until they meet a salesperson.”
Handling objections will be made easier or more difficult depending on how well you’ve convinced your customer of the following:
Your confidence in what you are presenting and your control of the sales process.
Your knowledge of your industry, company, and products. Your preparation demonstrated by a professional presentation.
Their need and desire for your product defined by the quality of your presentation.
Your ability to listen to their needs, wants, and desires while demonstrating empathy and understanding.
Successfully dealing with these issues is accomplished by completing a presentation that’s based on the customer’s values and needs ... not yours. It requires that a presentation includes a sequence or method for delivering the price.
Remember this power statement: Closing the sale is the natural conclusion to the successful completion of each step of the selling methodology; or simply, your best close is a great presentation. The number one reason people decide to buy one thing over another is the salesperson and the number one reason a salesperson does not get the order is because he or she did not ask for it.
Ans:- That’s why your confidence, knowledge, and ability to maintain rapport during the close is so critical. Leave any of these components out, and the close will become more difficult or has the potential to be perceived as “high pressure.”
The customer will feel like they are being “sold” instead of being put in a position to “buy.” If you deal with objections by using a planned system, you increase your chances of selling more (or at least one more) contracts than you currently sell.
The S.A.L.E.S. closing system is designed to put a salesperson in a position to sell the “one more” contract. S.A.L.E.S. is an acronym that stands for Silence, Affirm, Layer, Eliminate, and Solve. The system, when followed, moves customers through their natural buying process. It prevents arguments, reduces confrontations, and puts the customer in a position to buy what you are selling. Review the following then use it as a guide to increase sales.