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There are a few factors worth exploring here. 1) qualify the lead 2) quantify value 3) reduce risk First, are you confident that the folks raising these price
by benzesandbetter 12y ago
There are a few factors worth exploring here.
1) qualify the lead
2) quantify value
3) reduce risk
First, are you confident that the folks raising these price objections are qualified customers?
Assuming they are qualified customers, usually price objections come from either not building and quantifying value earlier in the sales process, or from the clients perception of risk.
Talk with them to discover the relevant numbers. E.g. how much time do employees or consultants spend on this task now? What is the average fully loaded salary or hourly rate? Or, how much are they spending on other products which will no longer be needed with your offering? Do the math for them, show them the savings.
The other factor to focus on is reducing risk. You could be showing them significant gains/savings, but they are discounting those based on their perceived risk premium, because they may not be confident in your ability to deliver those results. Think about ways you can attack that perceived risk. Can you offer a guarantee or warranty? Include interviews or case studies with other customers which illustrate their savings?