Created from Youtube video: https://www.youtube.com/watch?v=Qfj4Lhvs050videoConcepts covered:sales process, high price ownership, disqualifying prospects, probing questions, collaborative solutions
The video outlines seven strategies to handle the 'This is Too Expensive' objection, emphasizing the importance of reassessing the sales process, owning high prices, disqualifying price-sensitive prospects, slowing down the conversation, asking probing questions, digging deeper into objections, and collaboratively brainstorming solutions. These tactics aim to help salespeople better understand and address the underlying concerns of their prospects, ultimately leading to more successful sales outcomes.
Handling the 'This is Too Expensive' Objection in Sales
Concepts covered:sales process, high price, value perception, prospect disqualification, pricing strategy
The chapter discusses strategies for handling the 'this is too expensive' objection in sales. It emphasizes reassessing the sales process, owning high prices upfront, and disqualifying prospects who only seek the lowest price.
Question 1
Reassessing the sales process can reduce price objections.
Question 2
What should you reassess if price objections are frequent?
Question 3
What mindset should salespeople adopt about high prices?
Question 4
CASE STUDY: You are a salesperson, and a prospect says your product is too expensive after you reveal the price. You notice this happens frequently.
All of the following are correct applications except:
Question 5
CASE STUDY: You are training new salespeople on how to handle price objections.
Select three correct training points:
Effective Strategies for Handling Sales Objections
Concepts covered:objections, clarifying questions, slow down, dig deeper, sales tactics
The chapter emphasizes the importance of handling objections in sales by asking clarifying questions, slowing down the conversation, and digging deeper to understand the prospect's concerns. By doing so, salespeople can gain better control of the conversation and address objections more effectively.
Question 6
Digging into objections helps understand the prospect's concerns better.
Question 7
Why is it important to dig into objections?
Question 8
What is the benefit of digging into objections?
Question 9
CASE STUDY: You are in a meeting with a potential client who expresses concern about the cost of your service. They say, 'This seems too expensive.'
All of the following are correct responses except:
Question 10
CASE STUDY: In a sales presentation, a prospect says, 'This is beyond our budget.'
Select three correct actions to take next:
Handling Objections: Gaining Permission to Share Ideas
Concepts covered:objections, permission, creative solutions, value assessment, closing sales
This chapter emphasizes the importance of obtaining permission to share ideas when handling objections, particularly the 'too expensive' objection. It discusses the need to understand the true nature of the objection and suggests creative solutions to address it, ultimately aiming to close the sale.
Question 11
Getting permission to share ideas helps handle objections effectively.
Question 12
What is the goal of handling objections effectively?
Question 13
What approach helps in creatively solving objections?
Question 14
CASE STUDY: You are in a sales meeting and the prospect mentions that the product is too expensive. You have already understood that the issue is related to the payment plan.
All of the following are correct applications except...
Question 15
CASE STUDY: A potential client has raised an objection about the cost of your service. You need to address this to close the deal.
Select three correct next steps out of the following...
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