Use These 6 Tactics to Overcome Price Objections

Customers who bring up costs often are really talking about something else.

3 MIN READ
Dan Driggers, retired, LBM sales consultant

Dan Driggers

Throughout my 47 years in the wholesale building materials industry, both as a sales rep and a sales manager, I heard so often from fellow reps, “I can’t sell anything to this guy” or “All he wants to talk about is price, price, and price!”

My response has always been “That’s just one way he’s using or telling you ‘I don’t see a need I currently have for you or your company, so go away.’” The customer is using price as an invisible gate keeper to help him send the sales rep out the door.

Despite that, I found a way around that excuse every time. I could do so because every survey of builders I’ve ever seen ranked price at or around seventh or nearby out of 10 things these builders looked for when asked what mattered most when picking products. Your job is to find out why price is being used as an excuse.

When you hear the price complaint, do this:

1. Ask for an opportunity to show how much you and your team are truly “customer driven” pertaining to sales and operations. Give the customer names of other accounts he can call for performance references. Assure him you and your team can and will back your promise if given a chance. If need be, ask to be his best No. 2 supplier and go from there. It’s better than where you currently are at nothing!

2. Bring the customer to your facility and/or your manufacturers plant and show him that your manufacturing teammates do “walk the walk” on quality and are proactive in listening and supplying the best of the best in product offering.

3. Out of respect for his business methods, ask the customer for his definition of a first-class supplier. He’ll share with you what he likes and why as well as what he doesn’t like and why. Then, going forward, try and do as many if not all of the things he likes as a business partner and don’t do any of the “don’t likes.” Pretty simple!

4. Build a friendly business partnership by finding out what the customer enjoys doing and then do it if possible. People buy from people and they find it very hard to say no to a friend or someone they like dealing with. It works.

5. Notice how your competitor sells to that customer and add a little of their qualities to you if possible. Don’t stop being who you are; just make yourself a little better you.

6. Go the entire extra mile for the prospective customer and his customers as well by doing product knowledge sessions with the dealer and the dealers end user as well.

As you begin to gain more market share and customers hold you in deeper respect, you’ll find more doors will begin to open. You’ll discover that customers have given you a sort of endorsement that it’s OK to buy from you.

It works–I’ve done it. Just remember: It ain’t about price!

About the Author

Dan Driggers

Dan Driggers spent 47 years selling for Huttig Building Products, MacMilland Bloedel, and Georgia-Pacific. He now is retired and lives in Florida. Contact him here.

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