"That's too Expensive"- What it really means in Sales?

Price objections are common in sales because most prospects have learned pushing back on cost will get them a discount. While discounting has its place in the sales process, being too discount-happy will destroy your margins and lower your product's value.

"How much does it cost?"

It's the opening line of every potential customer. And you need to know how to answer it in a way that puts you at advantage. "That's too expensive" doesn't means, you don't cut your price and I won't buy this, it means the following pointers here:-

• Customer never bought this type of item before and have unrealistic expectation.
• It's beyond the customer's budget.
• Customer has seen the same product somewhere else.
• Customer is planning to buy from someone else.
• May be the customer has never spent that much before.
• May be you're showing him a more expensive option than he needs.

Selling on value means doing your homework, showcasing confidence and personalising the sale. You should focus on a specific group of customer's willing to buy by defining your targets. There will be always a consumer who only wants a low price, but the right customer always wants to hear why he has choose you and what value he receives from paying your price. Your customer expects a quick response time, start with your product or service and actions that show you care about them. If you set wrong expectations or build the wrong image, it will come back to bite you and that ultimately means you lose. As sales professional always look for better clients, who actually value what you do. You will have an easier time and be able to do your best work.