Mastering Pricing Objections: 3 Simple Steps to Overcome Resistance

Are you mastering pricing objections? Have you ever felt your confidence waver when a customer challenges your pricing?

Join us in this episode as we tackle one of the biggest challenges in pricing: handling objections. We’ll explore 3 effective techniques to help you overcome the resistance you feel and turn objections into opportunities for deeper engagement and successful sales.

Discover how to stay calm and composed when faced with objections. I share 3 tips that will help you maintain a positive demeanor to respond thoughtfully instead of defensively. You’ll learn about how something as simple as a breathe or a smile can turn such interactions positive and support you in staying focused and engaged throughout.

We’ll also delve into the power of curiosity. Find out how asking the right questions can reveal the true reasons behind objections like “That’s too expensive.” This approach not only keeps the conversation going but also provides valuable insights into what your customers really need.

Preparation is key, and we’ll discuss how reflecting on past interactions and having a repertoire of thoughtful responses can make all the difference. Get tips on how to prepare in advance for challenging conversations and learn about my handy Objections Handling Guide available for download on our website.

Mastering pricing objections doesn’t have to be daunting. By joining this discussion, you’ll gain practical strategies to turn objections into opportunities and navigate sales conversations with confidence. Tune in and enhance your sales techniques with us.

What to Listen out for:

  • 00:56 Understanding the Fear of Pricing Discussions
  • 03:04 Step 1: Take a moment before responding
  • 04:22 Step 2: Get curious
  • 07:24 Step 3: Prepare in advance
  • 10:25 Resources and final thoughts

Favorite quotes from this episode

“Most of us do it all the time. We say ‘I can’t afford that’ even when the money is in our wallet. It’s an easy way to end the conversation down.” Janene

“Preparation is key in many aspects of pricing. And it feeling comfortable with how to handle objections, a little forethought goes a long way.” Janene

“With simple preparation you put yourself in a position of not having to make something up on the spot. At time when your brain may be “flipping” out. You’ll already have some ideas on what you’d like to say.” Janene

“Being curious about what’s behind the no is really important.” Janene

Episode Links

Handling Pricing Objections Guide:

Check out my Video Series and Checklist on what to do when your customer says, “That’s too expensive!” for more ideas on this important topic.

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Episode Summary

In this episode, I have shared 3 simple steps to take to help you start mastering pricing objections – you can’t hide from them so it’s better to prepare for instead. We explore practical techniques to turn those objections into opportunities for deeper engagement and successful sales.

Step 1: Breathe and Smile Through Your Eyes

Last time, we discussed why it’s so hard to talk about prices with customers. The main reason is fear—fear of rejection, fear of saying something regrettable, and so on. Understanding this fear is essential. Remember, when we are triggered, we go into a fight or flight mode, causing the logical part of our brain to disconnect temporarily. This makes it hard to think clearly or know what to say. The first simple step to handle objections is to breathe. Breathing helps keep the connection between different parts of the brain intact, allowing you to maintain composure. Besides that, try to “smile through your eyes.” This doesn’t mean smiling broadly when someone says, “That’s too expensive,” but rather maintaining a calm and approachable demeanor. This technique is step 1 in helping you master pricing objections because it helps you respond thoughtfully instead of defensively, resisting the urge to offer a discount immediately.

Step 2: Get Curious Instead of Defensive

When faced with an objection, many people’s first instinct is to defend themselves. However, the hard sales pitch approach—convince, convince, convince—often doesn’t work. Instead, the second simple step is to get curious. Lean in slightly and ask the customer to explain their objection. For instance, if they say, “That’s too expensive,” respond with, “Oh, that’s interesting. Can you tell me more?” Understanding the reason behind the objection gives you more information to continue the conversation meaningfully. Often, objections like “That’s too expensive” are ways to shut down the conversation easily. By being curious, you can gather insights into what might be a more acceptable offer or approach for the customer.

Step 3: Prepare in Advance

The third step in learning to mastering pricing objections deals with preparation. Like many aspects of life, preparation is key in handling objections. Reflect on past situations where customers said no to your offer—whether it was when you mentioned the price or explained the value. Write down how you’d ideally like to respond in those situations. Having a repository of thoughtful responses can help you avoid panic and make it easier to handle objections when they arise. Review these scenarios occasionally to keep them fresh in your mind. By doing so, you equip yourself to navigate challenging conversations with confidence. I also offer an Objections Handling Guide on my website, which is available for download. It includes various scripts and ideas to help you prepare in advance for those tough conversations.

Mastering pricing objections doesn’t have to be so scary

Handling objections doesn’t have to be daunting. When viewed as opportunities to understand what’s behind the them, they become learning tools rather than hurdles. Remember to breathe, stay curious, and prepare. These steps will help you respond more effectively and confidently to objections about your offers.

Thank you for tuning in to Live With The Pricing Lady. If you found this blog post insightful, feel free to share it with your network. Stay tuned for more pricing insights and remember, pricing is not just a number—it’s a reflection of your business’s journey. Enjoy pricing!

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The 3rd Wednesday of the month we look at topics like…

APR Why do I struggle to tell people what I charge?
MAY 3 simple actions when pricing objections arise
JUN Should I offer tiers/packages for different segments?
AUG How to reign in unnecessary discounting.
SEP 3 myths of raising prices

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