Avoid Price Objections by Building Value

Price is always an issue with buyers, but the price need not be a barrier to success. To avoid allegations of price, sellers must first look at how effectively they have created value. The most effective way to create value by influencing the purchase criteria.

What is the buying criteria?

Purchase criteria are quantitative and qualitative measures of buyers use to guide their purchasing decisions. These criteria may vary in price, color and size to deliver on time, the volume or the relationship. Purchasing criteria are the rules of the game.

There are three ways to influence the buying criteria:

1. Discovery and strengthening of the criteria can be found.

2. Introduction of new criteria.

3. The reduction in the perceived importance of the criteria that do not or are very competitive disadvantage.

The discovery of the existing criteria

Discovering the existing criteria for a customer to purchase and reinforce that can be met. Persistently pursue the factors behind the needs of his client until you understand how the client to make decisions and why. Solidify the value of the criteria can be met is a key step in the tilt of the playing field to their advantage.

Introduction of new criteria

Many times the sellers are the existing criteria of a customer purchase does not include those who would support his proposal. This is due to an oversight, a lack of knowledge or as a result of a negative experience in the past. High-performance sellers use questions to place the new criteria in the minds of customers. FIT interrogation method has three parts: preparation, impact and evidence. Your results will depend on several variables. Do not be discouraged if the customer does not immediately accept the new criteria.

Reduce the importance of not meeting criteria.

This is the situation more difficult to maintain the value. There are four techniques to maximize the value of your proposal.

1. Re-framing. This method redefines the criteria in a way that makes you look better.

2. Advantages and disadvantages. This approach helps the client to a trade-off criteria for another.

3. Add value. This approach provides extra to tip the scales in your favor.

4. Make concessions. This means giving up their demands for or yield to the demands of the other party without receiving anything in return.

Whatever method you choose to influence the buying criteria and create value, time, attention, skill and perseverance are factors to consider. Taking the time to do so will help avoid price objections and focus the buyer on the value they give.

For additional information to increase sales, profits and customer loyalty, go to: philfaris.com

Phil Faris is a business consultant, executive coach and author. His books include "The winners of hiring," "customer relationship building," "High Performance Coaching" and "50 sales training activities." He is President of Phil Faris Associates a firm specializing in the use of sales and marketing assets to increase sales, profits and customer loyalty. For more information, visit philfaris.com

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