Handling Sales Objections: Begin with Empathy

By ILSTV Staff on Feb 28, 2011 in Ask The Expert, Canadian Insurance, Featured, In The Office

View the video here on your mobile device.

Handling Sales Objections with Todd Hochban (Part 4 of 6)

Begin with Empathy

There are special strategies that have been developed that specifically address objections to price. One of these strategies minimizes the price difference. Always begin with empathy.

Prospects need to feel that you understand and respect their objection. Then take the price difference and divide it into a daily weekly or monthly cost. Let’s say your product costs $700 more than the competitors but has several features and value added services your competitor doesn’t. Minimize the difference by saying that “The difference works out to about two dollars a day. That is the price of a cup of coffee. Now for that coffee a day look at all the additional features and services we provide.” You need to know your prospect and be able to recite your value added services to demonstrate the VALUE of your product.

Part 5 of this series will air on March 7. You can find the previous episodes here:

Part 1: Handling Sales Objections: Common Objections

Part 2: Handling Sales Objections: Build Value

Part 3: Handling Sales Objections: Feel, Felt, Found