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Jack Daly

Jack Daly’s checklist of actions if buyer claims the price is too high

Tips from The Sales Playbook on countering 2 main objections from prospects

Objections from buyers don’t have to be the stumbling blocks of the sales team.  In fact, according to The Sales Playbook (for Hyper Sales Growth) authors Jack Daly and Dan Larson,  the best salespeople look at objections as a call for more information.

"Those who raise an objection don’t know enough yet.  They don’t see enough value."  - The Sales Playbook (for Hyper Sales Growth) 

Below, a checklist of confident and clear responses to two common objections, that can make prospects see past their concerns, and lead them on their way to becoming customers.
 
  1. Buyer: Your price is too high.
The Sales Playbook  suggests you:
 
Clarify the objection
  • Our price is too high? Why do you say that?
  • Get clear on what they’re comparing you to, then deal with it.
Agree then pivot
  • We agree. I wouldn’t expect you to buy from me if we are a truly higher cost for your company.
  • But, savvy buyers know it’s important to consider all the cost factors, not just the initial cost.
  • It’s not the price you pay that matters most…..isn’t it the price and profit margin that becomes your bottom line gain that matters most?  Would you agree?
  • Give examples of how much sales and profit can be lost by buying lower quality product that is lower price on the supply side.
  • How much in sales and profit could you be losing due to costs of irregular quality, inconsistent products, lack of control of supply chain?
  • Give success stories that illustrate the point.
 
  1. Buyer: I’ll think about it.

The Sales Playbook suggests this is a classic stall, and you shouldn’t leave until you know WHY the prospect can’t make a decision:

Qualify their level of interest  
  • Seller: On a scale of 1 to 10 where 10 is high, what is your level of interest? (wait for answer)
  • Seller: What would it take to get you to a 10?
  • Buyer: 9 = They may just need you to address a concern or make a minor concession.
  • Buyer: 7 or 8 = They are a genuine prospect but a specific concern is holding them back.  They like what you’ve discussed but believe there’s still….. (an issue) and they don’t want to …….(answer too soon/still uncomfortable, unanswered questions).
  • Buyer: 5 or 6 (or lower) = You’re miles apart (or they’re being cagey). If they can’t tell you what it will take, mark them for a call back or put them in your touch system and move on (you’ve disqualified the non-buyers).
 
The Sales Playbook suggests that during sales meetings, each team member writes down the 5 toughest objections they’ve ever heard and then share with the team. 

Choose 5-10 from the pile of responses from the team, and then ask how everyone has responded to each objection, and how their prospects responded.

For more practical sales tips and tools, watch the livestream interview with Jack Daly, author of Hyper Sales Growth and co-author of The Sales Playbook on May 30.

Or, do what thousands of sales teams have done, and attend a proven-to-succeed workshop with Jack Daly.

Jack Daly will be back in Australia this July, presenting his famous workshop, Winning Sales Strategies to audiences in Melbourne, Brisbane and Sydney. The early bird price ends 31 May, so secure a seat to learn how to grow your business quickly and profitably. Learn more here.

Find out more about Jack Daly and how he gets the most out of sales teams by reading one of our other articles:

Sales Tips: How to Deal with Non-performing Sales People

5 Steps to a Touch System That Grows Sales
 

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