You're Too Expensive!
The most common objection I’ve heard from customers throughout the years is, “You are the most expensive.” I must be the luckiest the guy on the face of the earth to have only represented the most expensive brands and products in the marketplace! Who knew? Sarcasm aside, that’s obviously not the case. So why was I always hearing that I was the most expensive? More importantly, what did I do about it?
I know I’m not alone in hearing this objection. It’s probably one of the most common objections we get asked for help on. Before I dive into what to do about it, let’s talk about why it happens. The number one reason this objection is heard so often is, because it works! Simple as that. When people hear that they are too expensive, more often than not, it reduces their confidence and weakens their resistance to the buyer’s demands.
Buyers have found this to be a very useful way to, as a boxer might say, jelly-leg their opponent. Those that are not as experienced or confident in their position will usually start to give concessions quickly. The more the buyer holds the line, the more the poor seller will give. And when it works once, the buyer will continue to keep using it.
Outside of commodities, we know that price is not the most important reasons to buy. In fact, based on our research surveying over 13,000 buyers and sellers, buyers tell us that quality, results, relationship, AND price are the four most important factors in their buying decision. The reason why buyers use price is that it’s easy. It’s a number. It’s easy to compare. It’s easier to quantify. And, it works. That’s why price is used so much.
Here are some things you can do to not succumb to this tactic:
Last, but not the least, prepare for this statement ahead of time. The odds are, no matter how expensive or cheap your solution might be, you’ll hear this objection. If you prepare for it ahead of time you’ll be in a much better position to respond. If you are not prepared, enjoy your jelly-legs!
You’re Too Expensive?
We’ve all heard, “you’re the most expensive”. You may or may not be but don’t let that statement alone shake your confidence or get you off your game. Let Scotwork help you respond to this statement effectively.
We help organizations of all sizes and in a variety of sectors win their most critical negotiations. Let us help enable your success at the negotiation table. Talk to one of our experts today.
About the author:
As an entrepreneur, business owner, and Fortune 500 business executive, Brian has spent his career building winning teams and driving successful companies. Brian has spent the last 20 years within the marketing and advertising industry developing successful consumer engagement marketing strategies for trusted brands such as Google, Amazon, Samsung, Virgin Mobile, Microsoft and Sony.