Travis Chappell Clips | How to Overcome the Price Objection in a Sale | Chris Voss @travischappellclips | Uploaded July 2023 | Updated October 2024, 11 hours ago.
In business, it's inevitable that you'll encounter people who try to haggle with you over prices. It's a frustrating experience, but it's not one that you have to endure. In fact, the key to successful negotiations is knowing how to handle these situations.
Luckily in my interview with FBI negotiator Chris Voss, he gave some incredible gems in regards to how to deal with this.
First, Focus on Value
Chris explains that if someone is haggling with you over price, it's likely because they don't see the value in what you're offering. This could be because they don't understand the product or service, or because they don't believe that it's worth what you're charging.
Rather than getting bogged down in discussions about price, take the time to explain the benefits of what you're offering. Talk about how it can solve the customer's problems, and how it can improve their business.
By focusing on value, you can shift the conversation away from price and towards the benefits of your product or service.
Second, Don't Cut Your Prices
One of the biggest mistakes that people make when negotiating is to cut their prices. While it may seem like a good idea in the moment, this can actually hurt your business in the long run.
Regardless of how much pressure you're under. If someone is haggling with you over price, it's likely that there's a deeper issue at play. Perhaps they're unhappy with the service they're receiving, or they don't trust your brand.
Cutting your prices won't solve these problems. Instead, it's important to address the root cause of the issue. Ask questions to find out why the customer is unhappy, and work with them to find a solution.
Third, Over-Deliver on Value
If you want to avoid hagglers altogether, the best thing you can do is over-deliver on value. If your customers feel like they're getting more than what they paid for, they're unlikely to haggle with you over price.
To do this, you need to focus on providing exceptional service, going above and beyond what's expected. This could mean providing additional resources or support, or simply taking the time to ensure that your customers are happy with their experience.
If you consistently deliver exceptional value, your customers will be more likely to trust your brand and pay your asking price without question.
In conclusion, haggling over price is a common occurrence in business, but it's not one that you have to endure. By focusing on value, avoiding price cuts, and over-delivering on service, you can ensure that your negotiations are successful, and that you're building long-lasting relationships with your customers.
In business, it's inevitable that you'll encounter people who try to haggle with you over prices. It's a frustrating experience, but it's not one that you have to endure. In fact, the key to successful negotiations is knowing how to handle these situations.
Luckily in my interview with FBI negotiator Chris Voss, he gave some incredible gems in regards to how to deal with this.
First, Focus on Value
Chris explains that if someone is haggling with you over price, it's likely because they don't see the value in what you're offering. This could be because they don't understand the product or service, or because they don't believe that it's worth what you're charging.
Rather than getting bogged down in discussions about price, take the time to explain the benefits of what you're offering. Talk about how it can solve the customer's problems, and how it can improve their business.
By focusing on value, you can shift the conversation away from price and towards the benefits of your product or service.
Second, Don't Cut Your Prices
One of the biggest mistakes that people make when negotiating is to cut their prices. While it may seem like a good idea in the moment, this can actually hurt your business in the long run.
Regardless of how much pressure you're under. If someone is haggling with you over price, it's likely that there's a deeper issue at play. Perhaps they're unhappy with the service they're receiving, or they don't trust your brand.
Cutting your prices won't solve these problems. Instead, it's important to address the root cause of the issue. Ask questions to find out why the customer is unhappy, and work with them to find a solution.
Third, Over-Deliver on Value
If you want to avoid hagglers altogether, the best thing you can do is over-deliver on value. If your customers feel like they're getting more than what they paid for, they're unlikely to haggle with you over price.
To do this, you need to focus on providing exceptional service, going above and beyond what's expected. This could mean providing additional resources or support, or simply taking the time to ensure that your customers are happy with their experience.
If you consistently deliver exceptional value, your customers will be more likely to trust your brand and pay your asking price without question.
In conclusion, haggling over price is a common occurrence in business, but it's not one that you have to endure. By focusing on value, avoiding price cuts, and over-delivering on service, you can ensure that your negotiations are successful, and that you're building long-lasting relationships with your customers.
