Here’s a big secret: you don’t want to be the cheapest option out there.
This month on the blog, I’ve been focusing on how to overcome objections in sales. And this week, I’m covering one that we sometimes bring upon ourselves.
It’s the dreaded price comparison. The, “I found it on Amazon for $10.” The “I could get that at Walmart for half the price.” Or the “I found a painter to paint my entire house for $1000 when you said you’d do it for $6000.”
Have you experienced this one? I have, but I’ll be totally honest, it’s been a long time. Because unlike overcoming objections in sales on things like “I can’t afford it,” “I’m too busy,” and “I need to talk to my spouse,” this one can actually be overcome and not come back.
The price comparison is about positioning and marketing as much as it is knowing how to overcome objections in sales and knowing what to say.
If you position yourself as the bargain option, and go after the bargain shoppers this will always be an issue. And the only way to win the price war is to be cheaper than the cheapest options. That requires a MASSIVE amount of volume. And let’s be honest, it’s hard to keep up with Amazon and Walmart as a little guy.
So if you don’t want that battle, don’t position yourself as the bargain option. And don’t market to the bargain shoppers.
Instead create a high end experience. Or brand yourself as a niche expert. Or focus on level of service provided. Or be a higher quality. But do something to set you apart and warrant your higher price.
If you want more tips on how to do this, check out this week’s Youtube Video.
I know sometimes it’s hard to turn people away that don’t want to pay your rates. But I also know, the bargain shoppers are quite often NOT your ideal client. Let them go. Sometimes the ones that haggle over price end up being the most demanding, least grateful and hardest to work with.
You don’t need that. So, if you want to learn how to overcome objections in sales when it comes to price comparisons, stop trying to compete for the least expensive. Own your value! Hold your value! Embrace this secret: you don’t want to be the cheapest option!
