Overcoming The Price Objection

1
Overcoming The Price Objection
Joe Ellers Tactics for

• Digital Work Book
• This course is divided into 4 separate modules.
  At the end of each module, there are a set of
  Action Items to work on that will assist you in
  implementing the valuable tools, processes
  sales methodology contained in this course.
• These 4 modules correspond with the 4 audio
  recordings
• that are included with this course.

2
Course Information

• Presentation-To view this presentation on your
  computer, switch to SLIDE SHOW mode in VIEW for
  best viewing.
• For best printed results, go to Print, Change
  PRINT WHAT from SLIDES to HANDOUTS. Below that,
  place a check in the PRINT Pure Black White.

Your Instructor
Joe EllersConsultant, Trainer, Speaker
Business Strategist. Author of -The Sales
Managers Handbook-Sales Professionals 6-Step
Guide To Mastery-Sales Management
Excellence-Implementing Process Improvement
3
Module 1

• Who Should You
• Talk With?

4
Why is This The Most Common Objection?

• Easiest to give
• Hardest to disprove
• When youre not empowered
• When you really dont have a need
• When they want to use you
• When it is true

5
How Do You Attack It--Today?

• If its the most common objection, you have to
  have a response
• Apples to apples
• Data
• Proof
• Dont respond emotionally

6
TAC versus PUC

• Total Acquisition Cost
• What kind of expenses make up this cost for your
  customers?
• Who are the people in your customers
  organization that care about these costs?
• How are they measured?
• How are the bonused?

7
TAC versus PUC, continued

• Per Unit Cost
• What are the factors that make up the real per
  unit cost?
• Who cares about this?
• How are they measured? Bonused?

8
What Can You Do Differently?

• Define total acquisition cost
• Develop a list of all the key players
• Begin to define your product or services value
  proposition
• Always be ready? What are you likely to hear?
  Why?

9
Action Items For Module 1

• How many times in the past 30 days have you
  received a price
• Objection
• -What customers were involved?-What job titles
  gave you the objection?-What product/service was
  involved?-Did you win the order?-Did you reduce
  price to do so?  If so, how much (percentage)?Do
  you see any patterns here?
• 2) Look at who you called on last month.  What
  are the percentages of job titles called on? 
• Purchasing?  Engineering? Quality?
  Environmental? Safety?
• Marketing/sales? Plant management?
  Senior management? Finance?
• What percentage of your inquiries were generated
  by a customer request for price/availability?
  (What percentage of your opportunities occurred
  where the customer had already decided the "what"
  without any input from you?)
• 4) For your business, what makes up the Total
  Acquisition Cost of purchasing your
  products/services? 
• -Which parts of the organization care about
  these elements?
• -How are they measured? Compensated?
• -How well do you know the business goals of your
  key accounts? Key prospect
• accounts?