Most Reps Get This Wrong About Price Objections
Prefer To Watch: Here’s The Video
Article Summary
• Learn how to isolate the real money objection and move past common stalls like “I need to think about it” or “I need more estimates.”
• Discover the difference between affordability objections and value objections so you can respond with the right closing strategy.
• Understand how to identify and close payment gaps using financing options, deposits, project phasing, and product alternatives.
• Learn how to close value gaps by demonstrating ROI, energy savings, and long-term benefits that justify the investment.
• Find out why urgency and today-only discounts should only be used after you've solved the customer's real objection.
You need to bring it to the money. If you sell windows, roofs, siding, kitchen, bathrooms or any other home improvements with a one call close I’m sure you’ve heard people tell you that. Okay once you do that then what do you do?
What "Bring It to the Money" Really Means in One Call Close Training
Once you bring it to the money, which is a fancy way of saying that you’ve isolated the objection to the money you have to learn how to handle the money objection. In most cases this means that you have to get the gap of where you are to where they want to be and close the gap. The set up is this. First you have to have a great sales presentation that makes your customer want the product and see it’s value. If they don’t want it or think it’s worth it then the close won’t work.Then you deliver the price and start to hear the objections which in most cases aren’t objections but are the initial stall or smoke screen that really starts the closing process.
These include the infinitely popular ones like I need to think about it, I never buy anything the first night or of course I need to get other estimates or shop around. Then you learn to get past these to the real objection which if you’ve done your job is just the money. For example a simple way would sound like this. Well this has been great Ron we just need to think about it .…”no problem so I know what information to leave you do you mind if I ask you a question?” sure ..” What is the main thing you have to think about ? Is it this or this?”(point) Then I point to a picture of the kitchen and then I point to the price. Oh it’s just the price. “So other than the money is this the kitchen you definitely want then?” Yes. There a lot of ways and variations of how to do this but the point is now I have isolated the objection to the money. So now let’s cover the different ways to handle the money and at the end I’ll share the best tips I use to make this happen.
How to Isolate the Real Money Objection
So first you isolate the objection to the money. You do this when you can say “so other than the money is this what you want?” or “are there any other reasons other than the money that you don’t want this” you need to find out what type of money.
One Call Close Training: Value Problems vs. Affordability Problems
When the customer says that it’s too much money it can mean two things. That they don’t think it’s worth it or that they can’t afford it. These are two different things and unless you know which it is you may handle it wrong. It they don’t think it’s worth it would offering 12 month no interest work? If I tried to sell you a bottle of water for $100 and you said it’s too much money would giving you 12 months no interest or lowering the payment work? no The money issue is value. Now if the money issues is affordablity would telling them how much value they are getting or how much resale value they are getting work? No If I tried to sell you a new plane for $50,000 and said the payments were $10,000 month and you said it’s too much money the issue isn’t value but that you can’t afford it.
How to Determine Whether the Customer Can't Afford It or Doesn't See the Value
So once I isolate the objection to the money I always check what type of money by saying “So when you say it’s the money do you mean that you’re not sure if it’s worth it or you just can’t afford it?” Oh I just can’t afford it. Hopefully that’s what you hear. If they say not sure if it’s worth it then that means you didn’t build enough value in your sales presentation.
Closing the Affordability Gap in a One Call Close
Whether the money means value or affordability you have to get the gap. The difference is that when they say it’s too much money and it means they can’t afford it the gap is a payment. Making something affordable is about working payments. It’s a payment close. When they say that too much money means that it’s not worth it then it’s a value gap you have to close and now the gap is a dollar amount.
Strategies for Lowering Monthly Payments and Making Projects Affordable
Let’s handle the affordability gap first. “So other than the money is this what you want? “ yes ron..”so I know how to help you when you say it’s the money do you mean you’re not sure if it’s worth it or just more than you can afford?” oh it’s just more than I can afford? “Well how much too much is the monthly payment?’ oh about $100 a month. So now you know the gap is $100/month. So if you are quoting a payment of $500 a month than you know they want to be about $400/month?
Always get them to give you the gap don’t fish. If you ask how much too much is the payment and they just say “it’s too much” you need them to give them an amount. Ask again” how much to much?” or what could you afford a month? “If you don’t know what the gap is then you don’t know the problem to solve and it could be an endless loop 500/month too much how about 450/month too much 300/month no still too much . You don’t know where you have to be and more importantly when you have actually solved the problem. Sometimes you may get difficult people. Get them to be real with you. Remember that they want it too. It’s not just you trying to get a sale it’s you trying to help them get what they told you they wanted.
Well Ron I can’t afford anything. They’re not being real This is how I handle it “ Can I be direct with you Mary?” sure Ron “You could afford $10.00/month couldn’t you?” yes I could…”So when you say nothing it make me feel bad because now I feel that you really don’t want this and I don’t want to be pressuring you. Other than the money is this something you really want?’ I do ron “ Then I can work with you but you have to work with me. So how much too much is that payment or how much can you really afford a month?” Now I know the gap to close. Yes there are gaps I can’t close but I’ve done my job if I do know the gap even in a no sale.
So how do you close the payment gap. The first thing I do is ask if they can put a bigger deposit. A key here is if they say “well I might be able to put another couple of thousand down” be sure that it’s affordable and real because if it’s not then that’s not really solving the problem and they won’t buy. “You said maybe a couple thousand is that really affordable because I don’t want you to do this if it’s going to hurt you” well really it would better if I just put an additional thousand down. Now I know they can really afford that. If I had stuck with the original amount they might have not bought. Next I may be able to change the financing option to get a lower payment if I have that option. Then to phase the product down. Furnace and air to air only. 10 windows to 5 windows. Refacing kitchen and new countertop to countertop or kitchen only. Last would be to change the product if you offer a good better best or use discounts you may have available. I say use that last because now you are giving away money.
Keep in mind that the first number they give you for payments is usually a throwaway number they can afford easily and usually can be raised by $50.00 -$100 month easily. Just ask anyone who sells on payments like cars.
One Call Close Training Tip: Use Silence and the Whittling Effect
Here’s another pro tip:
Use silence as bullets and let time pass each time you lower the payment. “Well if you put another 2 thousand down that would lower your payment to $400/month. How does that sound? Then be quiet again until they object or buy. Even if it’s not where they wanted to be originally still ask that. “How does that sound?” You need the whitling effect that happens during a one call close. Every time they say no they are closer to saying yes. It’s a variation of How about this…no.. .will what about if we did this…..no… Well, what if we did this then? No... Well, what if we did this and this? Maybe. What if we did this, this and this? OK. That’s how a one call close works everytime they say no they are closer to saying yes . Use the no’s to whittle.
How to Close a Value Gap When the Customer Doesn't Think It's Worth It
The other scenario is when you bring it to the money and they say that too much money means they aren’t sure if it’s worth it. Here you lost it in the sales presentation and the only way to make it up is to learn to build value in the close. The strategy is the same. First you have to get the gap. Say you are at $20,000. So other than the money is this what you want” yes Ron “when you say it’s the money do you mean not sure if it’s worth it or just more than you can afford?” it’s just more than I want to spend for this or think it’s worth..”Well how far apart are we? Well I really can’t see spending more than $17,000 for this. “ So we are about $3000 apart from you getting a new kitchen? Now you know the gap is $3000. There many ways to close a value gap.
For example if they want resale value like a bathroom. “Can I share some information with you?” sure ron. Did you believe me earlier when we talked about the resale value of a new bathroom being around 60% in your area?” sure that sounds reasonable. “Well If you get a 60% roi on this bathroom when you sell the house it really isn’t costing you $20,000 with the resale value it’s really about $8000 since you get $12000 back when you sell. If I had told you that you could have gotten a new bathroom for $8000 what would you have told me ?” well I would have done it “well that’s what I’m tell you now.
Using ROI and Energy Savings to Build Value
Another way is to use the energy savings for products like windows or hvac. If they could save $50.00 month on energy with new windows and plan to be there for 10 years than that’s $6000 in energy savings now the $20,000 windows are really costing them $14,000. These are just examples to build value and you need to learn them but again you should really be working on your price conditioning in your sales presentation.
Why You Should Never Create Urgency Before Solving the Problem
This is important. Don’t try to create urgency until you’ve solved the problem. This means you isolated the objection to the money. Figured out what type of money; value or affordability and then closed the gap now you have solved the problem. If you do it like this a lot of times they will buy on their own and without a today discount. Or if you do need to use your today discount it’s just to create urgency. They say I like it I can afford it just give me a day. Now the today discount works great. When you get good at this you won’t even have to use a today discount. A third will start to buy before you even get there. If they do buy before then the today discount becomes almost like a post close.
Hope this article helped you and if you want more on how to build value in your sales presentation check out the article on “I had no idea it would cost this much” or don’t forget the free closing training mini course.
Happy Selling
