Your potential client doubts your direct sales offer's pricing. How will you handle their objections?

Considering that the sales process has been well mapped out so far and that the lead fits within the ICP, my suggestion would be to: 1. Clarify the objection: Ensure that budget is truly their only concern. 2. Understand their motivation: Probe deeper to understand why they see value in your offering despite budget constraints. 3. Shift perspective: Introduce a different viewpoint focused on the results and outcomes rather than just the cost. 4. Highlight consequences: Encourage them to consider the consequences of not addressing the problem over time. I would say this method encourages the client to evaluate the long-term benefits versus costs, guiding them towards recognizing the value and prioritizing the resolution of their problem.

When a client questions your pricing, prioritize understanding their concerns by listening attentively and empathetically. Acknowledging their doubts fosters trust and opens the door to a constructive dialogue, aiming to address their objections and ensure both parties feel valued in the partnership.

I totally agree on this, professional sales person should be delighted for any true objections because it indicates its interest, he also should be prepared for the convenient answers as he devide his product benefits on the offered price.

Price is not an objection, it's valid feedback, and indicates the sales process fell apart along the way. If you prospect only your ICP, if you disqualify HARD, if you understand the drivers behind the budget allocation, where it is as a priority, what makes it a priority, other stakeholders, cost of inaction, when did you first become aware of the issue we're discussing, in dollars what is the cost to the business annually, how many years has this been an issue, have you tried to fix it before, if so what happened, everyone is "getting the job done" what prompted you to consider switching providers, what do you ned from this, what's the timelines, and many other Qs - they didn't understand the fix and naturally the price was too high

Ensure you understand their reasoning. 'thats expensive' is an easy statement, especially if from procurement. Why do you feel that, expensive in comparison to ? etc - ask questions get a lot of clarity and do not leap to defend OR start discounting. Ideally you will have different packages to offer and can opt for different price different package. ie 'we have different levels/options and this one was proposed based on the needs we discussed. Lets rediscuss and clarify I have not misunderstood the needs as perhaps one of our other options will work for you that has a different price option,

To overcome price objections in direct sales, clarify your value proposition by demonstrating how your product or service addresses specific needs or problems. Emphasize the benefits and outcomes, such as efficiency gains or cost savings, to illustrate the ROI and shift the conversation towards the value gained rather than the price.

One thing could be helpful is to know your competitors and their defects and the most important to know your competitive advantages to allow best positioning of your products.

When selling a product or service to a customer, we're solving a problem we have already identified. So our focus should mainly be about how efficient is our product or service to them. How user-friendly is to them to use. So focusing more on the benefits and value of the product or service rather than cost, will make it easier for the customer to understand and accept our budget line.

If pricing doubts persist, highlight the unique aspects of your offer compared to competitors. Focus on superior quality, additional features, or exceptional customer support. Avoid criticizing competitors; instead, emphasize what makes your solution stand out and how it delivers greater value, which can sway clients towards choosing your product or service.

Is there anything unique in your offer that this client really needs ? If so offering up a test of 'if we removed x function or restricted that perhaps we can reduce the price as this is something we know others do not offer. If they validate must have this, clarify why, whats the value to them, what happens if you don't have this ABC function ? We all want the best price, but if you must buy something with ABC and only one person offers it, then nudging a discount is a prerogative ask , but they are still gonna have to buy this so its more of a friendly gesture than a heavy negotiated push.

Demonstrate your dedication to serving their needs by asking the following question, exactly like this: "Alls it takes is money and balls .. which one don't you have?"

Often In corporations I have found that the LOB wants what you have and wants to get going, then procurement gets involved and you are made to feel generic, that they have several options and they need XYZ commercial from you in comparison. Procurements job is to get the best terms ad pricing. They are trained like we are in sales. One technique is make the salesperson believe they can choose someone else and go with either A or B or even C and play off pricing of those against your system that is the only one that can do ABC. Again play back in the ABC function and offer removing or changing the package as procurement will need LOB approval for any such change and find that is a block for them if your competition does not have this.