How to deal with price based issues or rejections

Hello and welcome back to the podcast.

Hope you're well and have had a great week.

So this week I'm going to be covering off a subject specifically that is quite a critical one in selling and it's one that I hear a lot from people I talk to and that's all about how to handle the price based issue or objection.

So we're going to be getting into some nitty gritty of some responses to use won't be the longest of podcasts, probably 15, 20 minutes.

But just to talk to you about how to handle the price, objection.

I'm probably going to do a couple more of objections over the course of the next couple of weeks and months.

Let me know if they're useful for you.

But one of the common things I always get from people is people that I speak to is struggling because the people I'm talking to don't want to budge on price and I don't want to know my margins and what do I do to overcome this.

So what I'm going to talk through today is why it happens, what you need to do to fix it.

So in other words, what, what you need to do to, to basically make sure that it doesn't happen again and also more importantly give you some phrases and some elements that you can use to, to, to overcome this.

And there's a couple of different methods at the end of the podcast that I'll share with you that you can press, you know, write down and use to, to get the answers that you want.

There are lots of people that have challenges around budgets.

There's lots of people that have issues around where they can make investments.

The government's made it harder to or more costly to be able to hire people.

So there's definitely a drive and a worry about money.

And so therefore what will happen in many cases is that you're going to get either business owners wanting to negotiate themselves or if you're selling into corporate organizations, you're going to get procurement teams that definitely going to want to negotiate so they can maximize the value of every pound they've got that they have.

So one of the things that we've got to be able to do is to make sure we understand during the process, the sales process, what is the journey of someone making a decision to purchase.

And one of the first things that happens with this is we don't understand the budget process or the finance process that they are working with.

So again, if you're working with a smaller company, that's sometimes a bit easier.

You might have one director who's ultimately responsible for things, although they'll probably still have a budget and a plan.

But if you're working in larger organizations, you definitely need to understand the journey of what goes on, how money gets allocated, where budgets are allocated.

Definitely a key thing to consider.

And the reason I mentioned that is because price happens.

The price objection happens a lot because the people we're engaging with sometimes aren't the key decision makers.

And if they're not the key decision makers, all that happens is they take that service that they want to.

Your champion or the person you're engaging with takes your service up to a senior person who then just says, see if you can get it at a lower price price or we can't afford that in a budget at the moment.

So we need to understand the decision process early in the, in, in the sales journey.

And one of the things that I talk a lot about with regard to price is the main reason why you have a problem is because you didn't ask enough questions.

And I was talking, I was doing a presentation with an organization a couple of days ago and they were talking about a deal that they'd lost.

And, and I talk about sales in.

And the understanding part of certain business to business and sales been 70% of the process.

And they said, oh, we didn't know we didn't lose a different deal because you haven't lost enough questions.

They just decided to stay with their existing provider.

And I said, okay, well there's a good example that you didn't ask enough question.

What would you do if your existing provider, you know, came back to you and gave you a similar quote.

So the reality is you've got to ask enough questions in sales consistently and if you don't, then you're not going to win the deals you want to.

And one of the key reasons that people don't, you know, don't handle, can't handle the price objection is because they haven't asked enough questions around the budget or more importantly around the extent of the problem or desire for the person that you're, or the business you're talking to.

So questions are critical and you need to be asking questions not, not maybe at the first stage of the conversation, but certainly as you get through to maybe meeting number two or before you get to the stage of doing a proposal, you need to be asking questions around how they look to invest in the solution that they're looking to do.

So a question would be how do you normally go about investing in a solution like this?

Or how have you gone about investing in a solution like this in the past?

Or where would you guys find the budget from in order to be able to invest in this solution?

So you, first you've got to deal with the money based issue.

If you don't understand that, if you don't deal with the money based issue in those questions, in those conversations.

Conversations.

And again, not straight away, because if you ask someone straight away up front, what's the budget for something?

And by the way, don't ask the budget, don't ask that question.

If you ask the question what is your budget?

You will get a response that basically is not true or very rarely does someone tell you this is exactly what I've got to spend.

So please, please, please don't say what is your budget?

It is a terrible question to ask and it's not the question we want to be.

We're asking to find information out and invariably certainly seasoned business people which won't tell you that information and it makes you look a bit of a dumb salesperson.

But we've got to be able to ask questions around the problem.

So we've got to dig into the problem itself that they're going through or the desire.

So people only buy for a problem or a desire or problem or want.

What is the real challenge of that and understand the impact and the situation enough.

So there's a video on my YouTube channel I talk about, about PIP pain impact, priority.

What's the pain?

How big a pain is it?

What's the impact of that if they don't get it resolved and where does it fit within their priority list?

So for example, I always say to people, if you run it, you in the middle of the desert and you literally had nothing to drink for you two days and you saw someone that had a bottle of water, even though you know that bottle of water might be a £2, if that person says, sorry, the bottle of water is £1,000, the impact of you not having water is you're going to die.

And it's high up on your priority list because you can't carry on without it.

So you're probably going to say, okay, well I'm, I'm gonna, I'm gonna buy it then because I need to survive.

So the reality is you need to be able to understand the situation and the impact of the solution, you've got to understand how big a challenge it presents them.

Because if there is a price gap, and there's ultimately a price gap between.

And the price objection happens because you sell your service at a certain price and the buyer is, is wanting to buy at a certain figure, and there is a gap between the two.

And the reality is there is a gap when you don't understand their world enough or their situation enough to be able to really know what's driving them to make this call in the first.

And in many cases companies, especially if they've got limited options elsewhere or they've tried other solutions that didn't work, and you're the next sort of person to do this, you've got a potentially great opportunity to find those elements out because it can help you then defend the price that you want to sell your service for.

And I'm a big believer in trying, obviously not to discount.

The moment you discount or you give in to a price objection, you're basically setting the expectation with the customer that they can get what they want anytime.

It can create you problems later down the line.

So, so the first point is you've got to dig in enough into the problem and the challenges.

What are the issues that this is causing?

What implications does this have on the business?

What metrics does this affect?

Where does this fit in your priority list to be able to get resolved?

These questions are so critical before the price objection because it helps us understand that if they've got major issues and major problems going back to my water in the desert example, and you're the only game in town at the moment, then the chances are you can handle the objection by going back to the things that you've talked to them about and be able to basically talk to them and say, you know, when they say to you, oh, I need to think about the price of the price is too high, you can go back and say, when we spoke a week or so ago, you told me that this was the most critical issue for you guys to resolve, and if it wasn't resolved, it would create other problems.

What's changed since then?

So it enables you to go back to what you've had in the conversation with someone to talk through what, what's, what's, what's gone on.

And that can often make the prospect really think, okay, yeah.

Well, actually this is something that, you know, we do need to fix and, and, and a lot often.

I mean, I'm myself in a sales situation, I will always ask for A deal, I will always ask for a better price.

Because why?

Because if you don't ask, you don't get.

Doesn't mean say, I'll walk away from the deal, but I'm just looking for a deal.

So people will often ask for that to be able to get something in return.

So the first thing, as I say, is to ask about the problem.

The second thing is also to make sure you ask about the budget or the monies or where the monies are going to, or the figures are going to come from to invest in your solution.

And again, as I said, do not say what is your budget?

But talk through some scenarios.

Talk through when you've invested in solutions like this in the past, what figures did you put aside?

Or when you go through your budget planning, how do you decide on investing in this area or what would be the implications for the budget process to, you know, to put this solution in place.

Or you can be able, if you are also quite clever.

One of the things that I will try and do in sales conversations is I will always look to ask the question to the buyer as to the value of their, the sale or the value of the work that we're doing.

So I'm trying to create, or if you like, a return on investment for, let's say, in my situation, I'm trying to create a return on investment to know whether what I'm going to do is going to give them a return.

So, for example, I'm doing some sales training for someone and someone said to me the other day I wanted to come and do some training.

And I asked them, I said to them, talk to me about the value of each deal and what each deal means to you.

And they were saying, okay, well, the value of each deal turns out to be about 2,500 pounds of margin.

So I said, okay, and how many are you doing at the moment?

Or we're doing four a month.

Okay.

And you're looking to get it to eight a month.

Okay.

So you're looking to earn an extra £10,000 of margin over the month.

That's 120,000 a year.

So if you were to invest 15,000 to get to that 120, how would you feel about that?

And the reaction I got was, yeah, I feel I care about it, but I need to see it's going to work.

So what we've got to do is qualify the figures and link them, ideally, if we can, to a business case or a return on investment that the prospect's got.

So we just really need to make sure that the budget is there in the first place as well and that they've got a figure set aside for it.

And sometimes people will tell you it.

But again, the person that I another lead that I had a couple of months, a couple of weeks back, but I'm doing some work for in January, I, I actually asked them what I call a range question.

So I said to them, look, typically when we've done this sort of training session before, people have invested between five and sort of seven and a half thousand pounds in this sort of figure, in this sort of, in this sort of training.

How does that fit within your thoughts and plans?

And then I watch the reaction that I'm going to get, as Chris Voss talks about in his book Never Split the Difference.

You're going to get one of three reactions.

You're going to get a counterfeit yes, a confirmation yes, or a commitment yes.

I look for the reaction and when I hear, when I that question between five and seven and a half, the reaction I got was, yeah, that's pretty much in line with what we thought or what we thought about it.

So I knew that the budget figure that I was going to put in place was going to be in line with what they're expecting.

Now if obviously they said to me, well, it's a little bit more than we thought, or you know, which is one option, then I could have said, okay, what were you expecting it to be?

And once you've asked that question, people might say, oh, I was hoping it may, might be around 3 to 4,000.

Okay, and what, what, what did you expect to get for that figure?

Or what were you looking to, to, to see for that figure?

So you can stages of the sales process as to what their budget range will be and, and, and again, in those sort of situations, you know, you can, I've asked in the situation, you know, what would you need to see if, you know, if that price, we weren't able to do it for that price, how would you go about finding the extra or what would need to happen to, to make that, you know, bring that extra funds into play.

And then people will then talk about how they can go and get money from other sources or they have got the money there, but it's a value that they've put on it.

Right.

So, so you've got to ask the questions.

And the reason we have the objection is mainly because you haven't asked that.

And sometimes people are afraid to ask the price question or the budget question.

They worry about it.

And look I understand it.

Say, you know, talking about money is a difficult thing sometimes, but if you don't deal with it in the right way, all that's going to happen is you're just going to waste time doing a proposal and chasing someone and then ghosting you because you know you've not heard from them or they're going to come back to you and then say, I can't do it at that figure.

And you've, you know, you basically leave yourself in a situation where you look desperate by then agreeing to the, to the drop that they want.

So sorry to interrupt the podcast, but if you've got a sales issue at the moment that's really hacking you off, challenge me, I'll help you solve it.

Reach out to me.

Drop an email at hello Amesworth Dot Business, and I will help you solve your sales challenge.

There's not one I don't think I can't handle.

There's no sales issue that I can't resolve.

I've seen them all over my career.

I want to help you solve yours.

So reach out to me.

Let's make sure we handle your sales challenges and fix them so you can get back to smiling again.

Now back to the podcast.

So really try and as I say, ask about the pain, but also dig into the range and the budget that they have for that.

And there are some questions.

As I say, you know, typically other people invest X and Y.

How'd that fit with you?

Or the turn on investment for you?

For my, you know, working with me would be X.

That would give you a return of Y.

How does that feel for working, you know, for working together?

And watch out for those reactions that counterfeit.

Yes.

Which is, I think that's fine.

But they like lying through.

They don't want confrontation.

They're lying.

The confirmation.

One response, which is a 50, 50, they're not sure.

Or if that, if you get that commitment.

Yes.

And yeah, it's great.

It's in line with our budget.

And then fantastic.

And I always sort of say to people, if you do, if you can be emotionally aware to be able to listen out to the reaction and you do get that counterfeit.

Yes.

Then challenge it there and then challenge it.

Don't let it just think, oh, it'll be okay.

Don't just have happy ears and carry on thinking, it'll be fine.

If they're, if your budget and their budget are completely out of whack in terms of what you're offering versus what they're prepared to pay for, it's Unlikely that that's going to change anytime soon.

So you're better off to deal with it.

And you know, sometimes there are cases where we talk to people and unfortunately they just, they want, you know, champagne and you offer Prosecco.

And the reality is there's just a difference in price and it, you know, you know, you can't make it work for those two elements.

And the reality is in most environments, in most businesses, you know, if you went into the supermarket and literally said to them, can I have a bottle of Champagne Verve Clico for the price of a bottle of Prosecco, they'd say, no, you can't.

Sorry, that's just not, that's just the way it is.

It's not going to happen.

You can't, you can't have that.

They wouldn't just give it to you and say, okay, go on, we'll drop it for you.

Oh, if you buy thousands of bottles, they might, but in most cases they're not going to do that.

So we have to ask that range question.

But as I said, we're going to talk about how to handle ejection in a moment.

But the final bit to, to think about a couple, two other points just before we get into some responses that you can use is the reason it also happens is, is, is because you didn't qualify them.

You weren't a fit in the first place.

And you know, what do I, what do I mean by this?

There are some people who sadly just don't value your service in a way that you value it.

And I get, I always use cars as a good example of this.

Some people say to me, well, I want a Range Rover or some people might want a, a Hyundai or a J.

Crew, both great cars.

But if you want to buy a brand new H. Hyundai, it's probably going to cost you, yeah, let's say the same equivalent car of a Range Rover of I don't know, 45 grand.

Whereas if you want that same Range Rover, it's probably going to cost you a hundred thousand.

And there are some people that just will never buy that figure.

They're just never will with the right fit because they just don't not prepare to spend that amount of money.

Whereas other people who, the brand and what you offer and what that, you know that you know that that service offering is, is worth it for them them.

And our job is to qualify that.

Our job is to, is to check out whether they were a fit in the first place through questions and conversations and from knowing who your ideal customer is and you know, one of the things, again, if your service that you offer is on the premium end of a service, then one of the things that you need to be able to do again is through your questioning, ask questions around.

When you go and invest in a service, will you normally go for a lower cost option that gets the job done or a higher premium offer offering that is high quality to ensure things get implemented?

Ask them those questions to, to see if they're a good fit to qualify, because if they're not, at the end of that first call or maybe that second call, you can then say, look, we've really enjoyed our conversation, but you're looking for, you know, for, for Hyundai here, whereas we offer a Range Rover.

And I can't lower our price to, to the same price that you're going to want.

And therefore I don't want to waste your time and carry on, you know, you know, having a conversation when it's, it's pretty clear that you, we're going to be in a different place.

And sometimes when you say that to prospects at that stage, they will then come back to you and say, oh, right, well, okay, well, I do want to carry on, but okay, I didn't realize that.

So you, but by qualifying in the.

Right, in the, in the first place, you can, you can find out that, you can often find out that they'll want to engage with you.

So that's the, that's the second.

The point and the final point before we get into the objections is you, the reason you get the price objection is you simply didn't handle or create enough value.

I've had conversations with people that are listening to the podcast who you might even be listening to this and have had a conversation with me and they're thinking, oh, I was one of these people where I've talked to them afterwards, had a conversation with them and then said to them about the, the services that I offer.

And it's pretty clear that the services that I offer and the figure that I believe my value to be is just so different to what they thought it would be.

And, and that's not on them.

It's on me.

It's on me that I didn't show enough education and didn't give them enough to make them think that it's valuable enough.

But the reality is if someone's got an issue around price, it's probably because you didn't create or show enough value.

You didn't make them think, I have to do this.

This is worth investing in.

This is something that is that is worthy of the money that they want to charge.

And if you, if you don't do that, you're not gonna, you're not gonna, you're not gonna get the reaction that you want.

So, look, creating value through content or through education or through information that you share or stories or case studies or testimonials is definitely something that we, we want to be doing.

So look, once you see if we, that's the reasons why it happens.

But if it does, if you haven't done those things, you now think, oh, well, James, that's all very well for you to say it, but I'm in a situation now what do I do?

Here's how we handle it.

So the first point is this.

I want you to just double check first that it's, it is price that's the issue.

What tends to happen in a lot of cases with some deals is a price is an easy one to put out and say it's an objection, but it really is something else that the prospect has got in their mind that concerns them.

So one of the first things I will often say to someone will be, okay, appreciate you letting me know that.

Assuming that we were good and assuming that we could get the figures in the right place, would there be anything else that would stop you from moving things forward?

Forward.

So what that does is it sort of says, okay, let's put price out of the way now and get that sorted.

If that, if price is sorted, what else could stop you?

And again, I'll listen out for the reaction.

Normally I get, no, no, it's just price.

I just can't think afford that figure.

That figure that you've put in place there is just too much.

So what we want to do is just check that.

That's the.

Because obviously what we don't want is the frustration of solving the price objection and then finding that actually what caused them to be, you know, uncertain or not wanting to move forward with you was something else.

And invariably, and I say this to every single person that I work with in a sales situation, invariably in sales, if you, I always say if you could take your prospect in a time machine and move them into the future and show them that as a result of buying your service, they were able to solve their problems and it worked and it delivered everything that you promised it would do, they would buy it.

The, the reality in most cases, even with price objections, it.

The price is, is, in most cases, people will pay it.

What it is, is that they just don't believe that it will work or they don't believe it will happen, or they don't believe that it will actually get the result that they, that they want it to.

And therefore our job again is to be able to, is to, is to overcome that issue.

And again, that's why I think in often, in many cases, just be careful.

It's just they're putting price up as an objection, but that's a bit of a smoke screen for something else.

So look, if that does happen, what can you do to, to overcome it?

Of course you can discount down, you could just go back and discount it down.

Or what I often see a lot of salespeople do is to say, oh, the reason our price is the way it is is because we offer this service and this service and this service.

Let me be clear that you cannot overcome objections by talking at the prospect.

Talking doesn't solve anything.

All it does is it just, you know, reinforces to the prospect that you're not understanding their position.

And I always think a little bit, it's like that, you know, saying sometimes talk to the hand because the face isn't listening.

It's like if you're, if you're handling the price objection by being able to try and justify your price or be able to try and show it's overly good quality or to be able to show that it's so good at what it does and how brilliant and how it is and how many, so many people like it and use it, whatever else that's, that's not going to work because all you're doing is just sort of, it's like trying to put a square peg into a round hole and continue to bash it down.

All you do is destroy, destroy both, you know, the peg and the hole you're putting it into.

So what I use is there's a phrase and an objection handling method I use called lair and, and layer stands for listen, acknowledge, identify, reply or respond.

But reply is the key one that you use.

So I want you to just think a little bit around this approach.

Layer listen.

So firstly, listen out to what they're saying and I always say to you, listen out to what they're not saying to you.

What's the tonality?

What's the way in which they give that, that, that information to you?

Are they giving it in a glib way which, oh, you know, the price is a bit too high or they actually given it in a way it says just love to work you but that price just can't work with it sometimes you can often see and Hear really the extent and nature of the objection from the conversation that you have have.

So listen out for the reaction, acknowledge it.

I always just sort of say, you know, try and say thank you or just appreciate them for sharing their information.

And then the I stands for identify.

What we want to be able to do is we want to be able to try and label or put a, or put a, a circumstance around their, their response and then we want to use a reply to go back and that reply should always be a question or ideally be a question that we want to use to open up and ideally an open question question.

So a good example of that would be, so when someone says, yeah, thanks James, but the price is too high, I might go back with something that says, look, appreciate you being honest with me there, Jack, you know, really, you know, appreciate that it looks like I've not shared the true value of my solution or our solution.

What would you need to see to feel it's worth investing, you know, the £5,000 to solve that problem that you have have.

Or I might say something like, great, thanks for the feedback.

It's, it's open, it's honest, and it's welcomed.

I'd rather have that than not.

It's clear that I've not been able to give you an indication as to why you and you know, should invest that amount in the solution.

Tell me what you'd need to see, you know, or what would have to happen to make you think it's worth investing that amount.

So what you're doing is you're trying to sort of say, look, there's a, there's a reason why you don't feel comfortable.

What, what is going to go on?

What has to happen?

What information?

What information?

You know, the great response could be, what information do I need to share with you to make you feel it's worth putting that, you know, using that, or investing that figure or what information can I share with you that would give you more comfort around that figure?

So what you're trying to do is to probe into that person's mind to find out what's going on, what's driving them to feel the way they do, and, and, and a really simple mechanism because if they then come back and say to you, well, I'd need to see it definitely working, or I'd need to see some other examples or I'd need to see this in this, then you can go back and say, okay, appreciate that.

So assuming we can get those elements work through, I'm assuming you can deal with that, does that mean we'd have a plan that we could work with to move forward on this number?

So what you're doing is you're qualifying out the objection.

As I said to you, invariably, it's not the fact that it's the price, it's just the fact they don't think it's worth that amount.

So really try and, really try and just sort of dig into those questions.

Another response you could use would be something like appreciate.

Sally, thanks for appreciate the direct feedback.

Does this mean that the hard work and time we've both spent over the last few weeks is going to be lost?

What would we need to share with you to make you feel it's worth the figures outline?

So again, you know, maybe what you're doing is then, is you identify and there's been a huge amount of time and effort that both of you put into the deal.

And that can sometimes make people think, yeah, I don't want to lose all that time and effort actually for it.

And okay, and then you go back with what would you need to share, what would we need to share with you to make you feel it's worth that?

So utilize those phrases to try and engage with people and to try and handle the, the objection by, by, by getting inside their mind and finding out what's stopping them to think the way that you, you know, think and as I say, have done this at the start if, you know, if, if someone comes back to me where I've already asked them questions about the budget range and they've then told me, yeah, it's more than I thought.

When we, I can then go back and say, when we spoke a couple of weeks ago and we talked around investing the figure in place here, you mentioned that, you know, this sort of five to seven and a half K figure was in line with your budgets.

What's changed since then or what's happened since that point?

And they might say, oh, well, budgets have been cut or, or, or things have been changed, or we've been in a position now where we don't have that money available, in which case you can say, okay, so let's talk, you know, let's, okay, appreciate that.

Let's understand the implications of, you know, what's happened to the problem.

Has the problem gone away?

Because invariably, again, it's the problem that's the drive, the reason for them driving it, or it's their belief that that problem isn't a big enough priority or hasn't a big enough impact that's stopping them from wanting to invest that amount of money or it may well be that they've got a few other things to invest in and that's one of the items on their list.

So you've really got to try and dig in to, to find out what's going on.

And of course, if things have changed and if it is a situation where that you, you know, you literally their budget has been changed and that does happen, one of the things you could then do and a great response to be able to do is to say, great, okay, appreciate that the figure's a bit different.

What would you like me to take out from the proposal in order to fit in line with the budget that you've got?

Or you might say, what would we need to change within the proposal?

Or what would we need to adjust within the proposal to make it more in line with your budgets?

Because what that basically says is that's fine, you might want the price to be lower, but I'm going to then have to lower a service or maybe not include the same amount of support or same sort of package.

And what that does is it makes the prospect feel that, you know, that they know that they've got to accept that there's going to be a haircut on their side if they're going to make the deal happen.

Happen.

Now again, if someone then does say to you, no, I want exactly that service for this price, another great reaction that you can then do is to, is to, you know, just again, using that.

Appreciate being honest with me.

You know, it sounds like, you know, you've got a few challenges internally to deal with.

How am I supposed to deliver that high quality service at the figures that we've talked about that are lower figure, which doesn't make it profitable for you or for me or the business.

How am I supposed to do that?

And when you start to, you know, ask questions, some people might say, well, that's not my problem.

In which case you can say, well, appreciate that, but we're not going to be able to go forward.

Or they might say, okay, well, let's see if we can work something out.

So when you try and create the onus on the other person to try and come back and provide some input into the conversation, then things can happen.

So again, you know, it does depend who you're dealing with.

These, these phrases work when you're dealing directly with a decision maker.

If you're dealing with a procurement team, then it is a different conversation.

And I'm going to put a link in, I put a link into A conversation I had a few months back with a lovely lady called Linds around procurement, which was a really interesting discussion.

Procurement teams will always try and go a bit lower.

I often think a lot of the time, if you've built your relationship with the decision maker in the business that wants this to happen, procurement, you can generally say, look, we're unable to, we're unable to adjust our figures at the moment.

What do we need to do to move the deal forward now, or what happens now to the deal?

And a lot of the time the procurement team will go back to the decision maker.

They'll say they don't want to budge.

And if your solution is right and they want to put it in place, they'll say, okay, we just need to accept it.

And it does happen in lots of cases.

There is one other final sort of method that I will often use with this, and I sometimes use this in quite a lot of objections that I use and it's called the two camps objection.

So one of the things that I might say might be, look, I appreciate you sharing that information with me.

You know, I normally find that there's two camps of people that I work with.

Investing in any solution requires a bit of a leap of faith.

Faith.

But there's two camps.

Camp number one, who think about it, have concerns about the figures needed and then decide to stay where they are, which in time leads to frustration and their problems they're looking to solve getting worse.

Or Camp 2, those that are nervous about the monies but just are committed to investing in a solution that will give them a strong payback.

They really want to get these issues resolved so they can free up mind space for other issues in the business, just have interest which can be used in.

And what that does is it reinforces to the other person that actually, you know, by, by getting this resolved, they can, they can free up other issues for them or it means that, you know, they're going to have the still issue, you know, this issue, this problem carrying on.

And again, where you've identified that this is a significant problem that they want to fix, most people will want to, to, to get it done.

Again, I go back to the issue.

If you've got toothache, yes, you're right, it's.

And the only appointment you can get in the dentist is, you know, tomorrow morning.

And that appointment is, you know, 40% more than, than the maybe appointment in your normal dental surgery.

But you can only get, you can't get an appointment there for a week.

My gut feel is you'll probably put, put the appointment in and get it done because the pain is too great.

People want to solve pain.

People want to resume resolve, resolve pain.

So by using that two camp scenario when you talk about the figures and it leads to frustrations and bigger problems or actually camp to to is getting a payback and getting a solution in place to free up mind space can work really well.

So look, I hope this has given you some, some insights into to how I would handle the price objection.

Like I say, actually I've got a little bit longer than I thought with this one.

But, but I think it's such a key issue for, for so many people and I think if you don't resolve the price objection, you end up discounting.

You end up giving things, you know, to, to, you know, lowering your margin, which can then hurt.

I also think as well, when you've had to lower a price, sometimes it makes you feel a bit aggrieved with the customer.

It makes you feel a bit like, oh, I had to give them a lower price.

And sometimes we then don't give our best and certainly other departments don't give their best when they feel like they've been sort of hoodwinked into a price.

So, yeah, definitely one to fix.

So look, it is a challenge, but handle it in the right way.

Utilize layer, Listen, acknowledge, identify, reply, Think about about handling the objection with a question, replying with a question and you're going to be in a far better position than trying to talk your way through it.

You don't overcome objections by trying to brag, beat people into submission.

It just doesn't work.

And even if they do say give in there and then they're probably going to say afterwards, thanks very much.

We've had a different change of plan and, and do buyer's remorse.

So look, I hope that's helped and given you some outlines on it.

Yeah, let me know, let me know what works for you.

What, what are the other objections?

Bo, reach out to my read every comment that comes from the podcast on LinkedIn on my website.

Reach out, let me know there are other objections you're having challenges with and I'll see if I can do a podcast to cover those as well.

But as always, I always finish the podcast on an inspirational story.

And I wanted to do the story today of a young, a young girl called Kenya Natanya from Kenya.

And she was offered a scholarship to study in the United States.

And she made a deal with her father.

Her father didn't want her to go, but she made a deal with her father that she would go only if he allowed her to return and build a school for the girls in her village.

And Kenya obviously achieved what she did in the U.S. and she, she kept their promise.

And it's empowered hundreds of young girls through education.

And I think that incredible story of someone being brave enough to take on a challenge of going to a new location and then, you know, being able to give back to their community afterwards is an incredible story.

So Kakenya and Tire from Kenya is the inspirational story for today.

And I always think if you've got someone like that that's achieving things and doing things to make things a better place for other people, what can you do today?

And how can you be inspired to do the things you need to do as well?

So.

But that's it for me.

As ever, thank you so much for listening.

I hope it's been helpful.

If it is, please tell other people about the podcast, share it with others like and and subscribe, put some comments in there, rate it, whatever you can do.

The more people we can get the podcast open to, the more people we can help to get great sales results.

But as ever, that's it for me today.

I hope you've enjoyed if you have, as I say, put that like button or comment section and rating and give us the rating so we can continue to help more people.

But until next week, stay safe.

Keep, keep smiling.

And as I always say, remember, eat or be eaten.

You've got a choice.

Make it happen, do the thing you need to do and have a great week.

See you soon.

Take care.

So thank you so much for listening to this episode.

I hope you've enjoyed.

If you have, please subscribe to the podcast.

It helps us ensure more people can get the insights and ideas they need to get incredible sales results.

Look forward to seeing you on the next episode.

Sa.