Sales Coaching Tip – Price Objection Preparation

Sales Coaching Tip – Price Objection Preparation

Most salespeople perceive price objections as one of their biggest challenges. This is probably not new information for you. Yet many sales managers don’t always include price objection preparation in their sales coaching.

You can help your team members be better prepared to respond to the specific price objections they get by using these 3 simple steps. Ask each of your team members to:

  1. 1. Track the specific price objections they get in a week – If your team members just talk about price objections in a general fashion, they won’t necessarily know how to better handle the specific price objections they get. Just like doctors do blood tests to accurately understand the science behind their patients’ problems, each of your team members needs to do the research to specifically understand their prospects’ price objections.

  1. 2. Determine if there are any patterns to the price objections they get – This is where your team members discover the parameters of the specific price objections they get. For example, is there a particular product that gets more price objections than others? Is there something your team members say that supersedes prospects having price objections? Do prospects ask a similar kind of question that leads to a price objection? Is there a new competing product that prospects are comparing yours to? Explore the various pattern options with each of your team members. You may find it helpful to ask your coaching questions based on categories, such as patterns around product, what your team member did, what the prospect did, and industry influences.

  1. 3. Write out alternative ways to respond to the price objections – Once your team members have determined their specific price objection patterns, help them develop not just one alternative but multiple ways to respond in more effectively. This will help your team members have more solutions to pull from when price objections arise in their conversations. They may write out what they can say to better introduce the price of a product. They might develop more powerful questions to ask earlier in their conversations. They may work on what they can say to better respond to prospects’ questions. Coach them on the myriad of ways they can be better prepared to respond to price objections.

Once you have helped your team members with these 3 steps, your role as coach is to help them fine tune what they say and ask to professionally address the specific price objections they get from their prospects. This will allow your team members to proactively deal with price objections before they arise and to openly respond to objections when they do arise.

What are you going to do to help your team members to discover their price objection patterns?

What are you going to ask your team members to find out the specific price objection patterns they get?

What are you going to do to help your team members develop more effective ways of responding to the specific price objections they get?

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