Talking about money is uncomfortable. And yet, it is something that we all deal with, and is major aspect of so much of what we do in our daily lives. So why is it so uncomfortable to talk about money to a prospect?
I sell car parts, so it isn’t exactly the same ball park as enterprise sales. Despite this, I understand the teeth grinding awkwardness of telling a buyer a price I know that he is not going to like, or attempting to show why the product is the price that it is. Being a car parts salesman I generally have a fairly good idea of what most parts cost. However, often times the buyer does not. For example I know that someone who comes in looking for a CPS Sensor for a Chevy Cruze is going to pay somewhere around $45 dollars. This person may go back and tell his friend who drives a BMW what it cost him, prompting the man to come in and ask for the same thing for his car. Only this time, it will run him around $135. Who gets the brunt of this irritation? Me. I think this is why a lot of salesman don’t like talking price. Certainly part of it is a fear of losing the prospect, but a large aspect may be the salesman’s appearance in the eyes of the prospect.
So what is the common response by prospects who don’t like the price? More often than not it is one of the following:
“Well I looked online and I found it for $___.” “The shop down the road quoted me $____.” “You guys are just ripping customers off.”
How should you respond to such objections? Historically, I have simply acknowledged their comment and moved toward the sale. Since we began talking about price in sales, I have realized that better approach would be to help the customer through the process…even the price part. If that part is too expensive, lets see what else he might need. Is there a deal that would make the price worth it? Or perhaps, even help him in finding the part he needs for the price he wants…at a different store. Or maybe, the price isn’t right, because this isn’t even the right problem to solve. Taking on a consulting role will help me in future…I hope…the handle the question of price, a little better.
riehljb21 
trischlerba23
Great post! I totally agree that money is difficult to talk about but something that has to be done when in sales. I do think taking more of a consulting rule will be very helpful for you and the customer.
talking about budgets can be uncomfortable especially when you don’t know how to approach the conversation. By using the methods in class it definitely does help make the conversation more professional and two way.
I wonder if you did what you explained and kept track of the information, would you see these people coming to you again, just based on your honesty with them? Great thoughts here on talking about price.