Kenny Chapman teaches sales reps how to handle "it costs too much." He distinguishes between real price barriers and objections you can overcome with questions and value reinforcement. A Ferrari costs too much for most people; your product might not.
Hey everybody, Kenny Chapman here coming to you with this week's version of the video based Freedom Friday focus. And today I just wanted to touch base quickly about this whole saying that we hear all too often and actually we probably manufacture in our minds even more than we actually hear. Costs too much, right? So you know, we as selling technicians, as frontline people representing our companies, doing the best we can to educate consumers to share the value benefit propositions, all the things that we do to help them out. Then we just get to the presentation table to make a well put together option sheet presentation and then bam. It costs too much. Any of you that know me, follow me. Have you been to any of our classes or if we've done training at your organizations, you know that we like to smoke out objections before the last minute, before we get to the end of the game. Now this week I just want to touch on this thing of when you get a price objection. Number one, is it really a price objection? Because every time I do live seminars with technicians, I'll ask what's the number one pushback we get? They always say price, right? I get that most of our clients are priced at the higher end of the market. And the scale, that's fine. That's who we choose to be. That's who we have to be. I'd love to be able to lower our prices, but you can't do it and still make a good margin. So it is what it is. The price is fixed. Fixed. Meaning that that's what we've got to charge in order to cover the overhead and make a fair profit and stay in business. So once that's out of the way, now we look at this whole thing of. Isn't it interesting to you that as selling people in the front line trenches, customers don't really go. You know, Kenny, I'd kind of like to go with you today, but I don't trust you. You know, Kenny, I'd really, I'm considering going with you, but I think I'm going to get a few more estimates because I, I don't think you know what you're talking about. You know, Kenny, I'd really like to shop around a little bit because your product knowledge just does not seem to be there today. Right. We don't get these things. It's so easy to just go, man, that's a little more than I was planning on spending today. So I think I'll talk to my spouse, I think I'll wait, I think I'll get more estimates. I think I'll get this, that and the other. Now I don't want you sitting there fighting, arm wrestling, punching your customer in the face if they have any pushbacks. Pushbacks can be real. Objections can be real. What I want us to think about today is smoking out. Is it an objection or is it a condition? Every time I see price objections happen in the field, with all the training and the ride alongs I do, I see technicians immediately think it's a condition and that customer is unable to purchase with you. Now, very seldom is that the case, usually it's an actual objection. What gives us the opportunity to re educate, to ask more questions, to help the customer understand the benefits of doing business with us as a company and sharing these things with them, to re educate them on the necessities of what has to take place in order to effectively do business with our company. Now, can it ever be a condition? Yes. If I'm selling Ferraris at a local Ferrari dealership and a client comes up, or a possible consumer comes up and says, I only have $20,000, I can't get financing and I want to buy a Ferrari, guess what? That's not a price objection, that's a condition. And that's something I can't change. So I can't take it personal. I can't run to the drawing board and go, I've got to completely change my presentation and nobody's ever going to buy Ferraris anymore because this person only had 20,000. No, I've got to keep it in perspective. I've got to sharpen who I am, how I present, how I connect, how I ask questions, how I communicate and, and ultimately how I do the very best job I can do each and every time, regardless of objection, regardless of condition. The best I've got, that's what I want from you. The best you've got. This week. It costs too much, might be asking for more information. Smoke it out for yourself. And until we talk again, have a better than fantastic week and I'll see you next time.
