7 Keys to Handling the “This is Too Expensive” Objection

Data-Driven Selling By Sales Insights Lab

Data-Driven Selling By Sales Insights Lab

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Be sure to register for my free training on, "The 5-Step Formula to Closing More Deals without the Price Pushback, 'Think-It-Overs' or Ghosting"

https://salesinsightslab.com/training/

In this episode of "Data Driven Selling," hosted by Marc Wayshak, we delve into a common challenge faced by sales reps and business owners: the "This is Too Expensive" objection from prospects. Marc provides seven strategic keys to effectively handle this objection, emphasizing a shift in both mindset and tactics. The episode is rich with actionable advice aimed at helping listeners not only overcome the objection but also ensure they are aligning their sales process to showcase the value of their offerings clearly.

"7 Keys to Handling the 'This is Too Expensive' Objection" by Marc Wayshak covers a comprehensive guide to navigating price objections in sales.

Here’s a breakdown of the primary topics covered, with sub-topic bullets for each:

1. Determine How You Got Here
- Exploration of the sales process to identify potential improvements.
- Understanding that price objections often stem from a perceived lack of value.

2. Own Your High Price Upfront
- The strategy of proudly owning and justifying a higher price point.
- Discussion on the negative implications of competing on price in your industry.

3. Remember That 20% Must Be DQ'd
- Categorizing prospects into three buckets based on their price sensitivity and value perception.
- Emphasis on immediately disqualifying the bottom 20% who are price-focused.

4. Slow It Down
- Tactical approach to pause and slow down the conversation upon encountering the objection.
- The importance of not rushing into defensive or justifying responses.

5. Ask What Prompts You to Say That
- Turning the objection back to the prospect to understand their perspective.
- The value of listening and prompting further explanation from the prospect.

6. Dig Deeper
- The importance of digging into the objection to truly understand the prospect's concerns.
- How effective questioning can reveal the underlying reasons for the objection.

7. Can I Throw Some Ideas at You?
- Strategies for collaboratively exploring potential solutions or alternatives with the prospect.
- Seeking permission to offer ideas, enhancing the receptiveness of the prospect.

Conclusion and Additional Resources
- Summary of the key strategies to handle the "This is too expensive" objection.
- Invitation to access additional free training material to improve closing skills without price objection.

Each of these topics collectively aims to equip sales professionals with strategic responses and a deeper understanding of handling price objections effectively, turning potential setbacks into opportunities for value demonstration and closing sales.

82 פרקים

#MBA #Careers #Business #Salesinsightslab.com #This Datadriven Sales #DataDriven Selling By #Big Sale #Selling With Data #Data Driven Decision #Sales Decison #Sales Insights #Sales Lab

Data-Driven Selling By Sales Insights Lab

7 Keys to Handling the “This is Too Expensive” Objection

Data-Driven Selling By Sales Insights Lab

published לפני שנה

שתפו

MP3•בית הפרקים

Be sure to register for my free training on, "The 5-Step Formula to Closing More Deals without the Price Pushback, 'Think-It-Overs' or Ghosting"

https://salesinsightslab.com/training/

"7 Keys to Handling the 'This is Too Expensive' Objection" by Marc Wayshak covers a comprehensive guide to navigating price objections in sales.

Here’s a breakdown of the primary topics covered, with sub-topic bullets for each:

1. Determine How You Got Here
- Exploration of the sales process to identify potential improvements.
- Understanding that price objections often stem from a perceived lack of value.

2. Own Your High Price Upfront
- The strategy of proudly owning and justifying a higher price point.
- Discussion on the negative implications of competing on price in your industry.

4. Slow It Down
- Tactical approach to pause and slow down the conversation upon encountering the objection.
- The importance of not rushing into defensive or justifying responses.

5. Ask What Prompts You to Say That
- Turning the objection back to the prospect to understand their perspective.
- The value of listening and prompting further explanation from the prospect.

6. Dig Deeper
- The importance of digging into the objection to truly understand the prospect's concerns.
- How effective questioning can reveal the underlying reasons for the objection.

82 פרקים

#MBA #Careers #Business #Salesinsightslab.com #This Datadriven Sales #DataDriven Selling By #Big Sale #Selling With Data #Data Driven Decision #Sales Decison #Sales Insights #Sales Lab

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לפני 51 weeks15:40

15:40

Be sure to register for my free training on, "The 5-Step Formula to Closing More Deals without the Price Pushback, 'Think-It-Overs' or Ghosting" https://salesinsightslab.com/training/ Welcome back to another episode of Data Driven Insights. I'm your host, Marc Wayshak, joined by our esteemed head sales coach, Coach Tiffany. Today, we're diving into a fascinating discussion that every salesperson needs to hear: "How to Create Immense Value in Sales Conversations." This episode peels back the layers of traditional selling techniques to show you a revolutionary approach that speaks directly to the buyer's needs. We'll dismiss old-school, pitch-focused methods and move toward a genuine, conversation-driven strategy that empowers prospects to unpack their own value. Expect to explore the crucial differences between simply agreeing with a client and engaging them in a deeper dialogue that leads to understanding their unique challenges. Coach Tiffany and I will guide you through real-life scenarios, equipping you with the insights to transform your sales conversations from one-sided presentations to collaborative exchanges that lead to better outcomes for everyone involved. So, if you're ready to enhance your sales process and empower your clients, tune in and let's unlock the secrets of creating immense value together. 00:00 Prioritize initial value in sales interactions. 03:42 Avoid waiting for opportunity, focus on understanding. 09:38 Against strict rules, prefers understanding real costs. 10:25 Roa calculators project a sales dictatorship: guide prospects. 13:26 Creating understanding, building value, and commitment. Here are 3 key takeaways to transform your sales approach: - **Unpack the Prospect's Perspective**: Step into their shoes. Your role is to guide them through their own challenges, not dictate the journey with your solutions. This builds trust and positions you as a partner rather than just a vendor. - **Dialogue Over Monologue**: Engage in a conversation, not a pitch. Ask probing questions to understand the pain points deeply. When you let prospects articulate their issues, they’re more likely to see the value in your tailored solutions. - **Expertise Through Inquiry**: Admitting that you don’t have all the answers might feel counterintuitive, but it’s actually a powerful demonstration of expertise. It shows you're attentive, you care, and you're committed to understanding their unique situation.…

Data-Driven Selling By Sales Insights Lab

1
How to Deal with the Alpha Prospect [Bullies!] 14:37

לפני 52 weeks14:37

14:37

Be sure to register for my free training on, "The 5-Step Formula to Closing More Deals without the Price Pushback, 'Think-It-Overs' or Ghosting" https://salesinsightslab.com/training/ Today, we're diving deep into a high-stakes topic that makes many in sales visibly shudder—the Alpha Prospect. These are the tough, intimidating sorts that can dominate a sale, often leaving even the most seasoned reps feeling like they've stepped into the ring with a heavyweight champion. But fear not! Coach Tiffany and I are here to deconstruct the mythos of the alpha prospect and provide you with the game plan to not only survive but thrive in these daunting encounters. We'll be revealing why it's essential to stand your ground. We show you that sales, at its core, is a game—a game where intimidation is purely psychological and can be conquered through a steadfast strategy and an unwavering mind frame. From reframing our perspective, to sticking to our process, engaging fully in the conversation, and delivering undeniable value, we're unpacking the tactical approaches that will help you engage with alpha prospects on an equal footing, turning potential adversaries into allies in your sales journey. By the end of our conversation, you'll be equipped with the insights and confidence needed to tackle those high-octane sales meetings. Change the way you perceive these prospects and transform trepidation into excitement. Remember, it's just a game, and we're here to win. Sales Strategies for High-Value Clients: "Alpha prospects are some of those people that can, like you have nightmares about actually running into a sales scenario with, but in reality they're people just like anybody else. And if you're coming in with a strong strategy, you're going to be fine with them." — Coach Tiffany [00:00:46 → 00:01:00] Navigating Power Dynamics: "And they, you know, a lot of times people in this space are walking around thinking like you're either a predator or you're prey and you're kind of walking in with that sign that says you're one or the other." — Coach Tiffany [00:03:16 → 00:03:27] Business Communication Candidness: "Exactly. And they're not taking the meeting to be nice. And you'll know where you stand with them, which is really cool. They'll tell you. They'll be really blunt often and say, I don't see how this makes sense. Or they'll tell you, like, I can kind of see that. And you know exactly where you stand." — Coach Tiffany [00:04:36 → 00:04:50] Sales Leadership in Negotiations: "What they want to have happen. The issue is that in sales, you have to take that leadership position and own this opportunity for them. So you have to define it by your process and not let them push you into a space where they're deciding and dictating what comes next or how things go." — Coach Tiffany [00:05:28 → 00:05:43] Sales Approach Wisdom: "sales is about having a conversation. It's not about a performance." — Coach Tiffany [00:06:48 → 00:06:51] The Art of Conversation: "And that back and forth that happens with somebody when you're just, like, kind of guiding them through questions can be so powerful for them. And that's what usually breaks that wall that they've got built up around what they really think or what's going on in their situation." — Coach Tiffany [00:07:59 → 00:08:14] Building Better Business Relationships: "Yeah. It takes them from feeling like adversaries to feeling like partners. Right. Like, that's the goal. That's the trajectory you're aiming for." — Coach Tiffany [00:08:58 → 00:09:04] Understanding Value in Sales: "It's what they're fishing for. It's the thing that's going to open up the door and they're not looking at value as like, what can you tell me about your service?" — Coach Tiffany [00:10:32 → 00:10:41] Understanding Sales Dynamics: "Every time you show up to a sales experience, you're kind of just, like, exploring the space and being like, oh, so that's the game we're going to be playing today. And then you can really come at them from this, like, informed perspective." — Coach Tiffany [00:12:33 → 00:12:44] Turning Anxiety into Excitement: "when your heart starts to beat faster and stuff like that, there's no real difference physiologically between excitement and anxiousness. So I would always just say as like, oh, I'm excited." — Coach Tiffany [00:13:43 → 00:13:55]…

Data-Driven Selling By Sales Insights Lab

1
The Future of Cold Outreach: Targeted, Resonant, and Purpose-Driven 21:18

לפני 1 year21:18

21:18

Be sure to register for my free training on, "The 5-Step Formula to Closing More Deals without the Price Pushback, 'Think-It-Overs' or Ghosting" https://salesinsightslab.com/training/ In this podcast episode, Tiffany from Sales Insights Lab and the host discuss evolving cold outreach strategies. They stress the importance of tactical approaches and avoiding generic methods due to advanced email filtering by G Suite and Outlook. They advocate for high-value, purpose-driven outreach and the use of multichannel communication to engage prospects meaningfully. The conversation also covers the necessity of a multi-step, personalized approach to outreach that resonates with prospects' needs. The episode wraps up with a call to action for listeners to access a free video training on effective deal-closing strategies. The importance of purpose in cold outreach (00:00:00) Tiffany emphasizes the importance of purpose in cold outreach, stating that prospects deserve to know there's a solution to their problems. Changes in cold outreach due to technical filtering (00:00:45) Discussing changes in cold outreach, including filtering emails by G Suite and Outlook, and the decreasing open rates of emails over the years. Impact of G Suite changes on email volume and spam (00:01:14) Explaining the impact of G Suite changes on email volume and spam, and how it affects the effectiveness of cold outreach. Multichannel approach in cold outreach (00:05:13) Highlighting the importance of a multichannel approach in cold outreach to demonstrate high value and reach prospects effectively. The offer and its importance in cold outreach (00:12:13) Emphasizing the need for a compelling offer in cold outreach to entice prospects and make them willing to engage in a conversation. Effective personalization in cold outreach (00:16:21) Discussing the significance of good personalization in cold outreach to demonstrate understanding and relevance to the recipient. Segmentation in cold outreach (00:17:58) Explaining the importance of segmentation in cold outreach to narrow down the target audience and send more relevant messages. Cold Outreach Strategies (00:20:14) Discussion on the impact of changes in cold outreach and the importance of narrowing down the target list for better resonance. Tactical Advice (00:20:58) Promotion of free video training on a five-step formula for closing more deals without price pushback.…

Data-Driven Selling By Sales Insights Lab

1
Mastering the Art of Handling "Think it Over" Objections in Sales 19:49

לפני 1 year19:49

19:49

Be sure to register for my free training on, "The 5-Step Formula to Closing More Deals without the Price Pushback, 'Think-It-Overs' or Ghosting" https://salesinsightslab.com/training/ Handling "Think It Over" Objections In this episode of Data-Driven Selling by the Sales Insights Lab, Coach Tiffany and I delve into the challenging world of handling "think it over" objections in sales. We start by acknowledging the potential confrontational nature of addressing objections and emphasize the importance of softening our approach. The episode kicks off with a listener question from KC Carlyle, who expresses frustration with solid conversations with prospects that end in a "think it over" response. Coach Tiffany and I discuss the need to push prospects for clarity rather than accepting a soft rejection to avoid a hard no. We explore the different types of objections, including cover, concern, condition, and complacency, and highlight the importance of understanding the underlying reasons behind a prospect's "think it over" response. By slowing down the conversation, acknowledging the objection, and helping the prospect clarify their thoughts and feelings, we aim to move towards a decision rather than leaving them in decision purgatory. Throughout the episode, we stress the significance of creating a collaborative and supportive environment with prospects, rather than adopting a pushy or desperate sales approach. By focusing on building trust, understanding the prospect's concerns, and addressing objections with a structured process, sales professionals can navigate "think it over" objections effectively and ultimately drive towards a decision. We conclude by emphasizing the importance of mindset in handling objections, highlighting the need for sales professionals to be willing to let go of a potential sale if it's not the right fit. By approaching objections with a strategic and empathetic mindset, sales professionals can enhance their sales process and increase their chances of closing deals successfully. Join us in this insightful episode as we provide practical tips and strategies for handling "think it over" objections in sales and empowering sales professionals to navigate objections with confidence and clarity. "We can't take the soft rejection so that we don't get that hard no." - 00:01:15-00:01:25 "The goal isn't at that moment to push the prospect across the finish line. The goal is to push them for the clarity to get them to want to voluntarily cross the finish line." - 00:02:24-00:02:34 "Yeah, I mean, really all we want is a decision. Whether it's a yes or a no is OK. We just want to get to a decision." - 00:02:56-00:03:07 "So we've got to really like soften it. To me, this is the most important part of handling any objection because like I think you always talk about is like this may be the end of the objection." - 00:13:13-00:13:23 "Getting them to clarify sometimes like when people just articulate what they're thinking, that kind of solves their thing." - 00:14:47-00:14:58 "You can't get to effective tactical implementation until the mindset's solid." - 00:18:35-00:18:45 "You may need a sale, but you don't need this sale." - 00:18:35-00:18:45 "You need to be willing to let somebody go. You can't try to hold onto them if that sale is not gonna happen." - 00:18:55-00:19:05 "Once you just say like, hey, I'm okay with losing this, there's others out there, then all of a sudden that frees you up to really help them and help yourself to figure out, is this a." - 00:19:07-00:19:18 "Thanks for listening. Want more tactical advice on selling? Register for our free video training on the five-step formula to closing more deals without price pushback, think-it-overs." - 00:19:19-00:19:29…

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