Although many salespeople feel their competitors or suppliers cause any price problems they experience, our company has found that there are many other factors from our own beliefs, to the words we use to timing and more that actually cause our price challenges.

In this article, I wanted to raise an important question. Do Mercedes salespeople stay up all night worrying that people will discover they can buy a Kia for about 20% of the cost of a Mercedes? Kias sell for 80% less but it probably has not cost Mercedes a single sale! Man if that gets out, no one will buy a Mercedes right?

I am sure you will agree that statement is wrong. Mercedes salespeople are well aware of the value they provide that is far different from Kia, Ford or used vehicles that cost far less. I think you will find that well trained salespeople for any product are not bothered by prices or competitors.

If you had a competitor that sold for 80% less than you would you be as confident? You should be, because studies show that no matter what customers tell you, only 14% buy due to price alone and not value. You don't buy for price and neither do your customers. Take your home as an example. Do you live in the least expensive home in your town, or were safety, condition, size and condition a factor? I doubt it.

Do you have on the cheapest shoes you could have purchased at the lowest cost thrift shop in your county even if they are not your size or don't match? Again, probably not. You do not buy exclusively for price, but for value and so do your customers.

You are probably wondering why price objections come up so much if price doesn't matter. The answer is that consumers know it is the easiest one to use. Our training for our clients covers many objections and many ways to deal with them but price is definitely a consumer favorite. It is the objection many salespeople actually agree with (deep down inside) and the one salespeople give up with the easiest.

Let's take a look at how we may be causing more price objections that we need to surface...the words we use.

Have you ever told a customer, "The list proce is". As soon as we say that, we are telling the customer in code that we don't really expect that price. If we say the "list price is", it implies that there is another (lower) price. If you stop using that phrase and others like it, we belive you wiull see an immediate lessening of price objections.

Another foot shooting phrase might be "we just got a new price list and of course, everything is going up with the price of oil." The problem with this phrase is that it is depressing. It makes the customer feel that the price you are going to quote is high. No one wants to pay a high price. Now, imagine if you said, "I have very good news. Everything we talked about today is only $XXXXX.XX." It's not a big difference but I hope you agree that the feeling imparted is much better. It's more optimistic. It sounds like more of a positive price that the client might like to hold on to.

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