As a sales trainer for painting contractors, I receive a lot of questions about handling customers who are looking for a cheaper price. You likely know that dealing with price objections and price shoppers can be a significant challenge. However, many sales professionals fail to recognize the importance of mindset when it comes to these challenges.
50% of selling is 90% Mental
Having the right mindset is essential when it comes to handling price objections and price shoppers effectively. It can mean the difference between closing a sale at a higher price or losing the sale altogether. In this blog post, we'll explore the importance of mindset when it comes to handling price objections and price shoppers and provide you with some practical tips to help you and your clients develop a winning mindset.
Mindset and Price Objections
One of the biggest challenges in sales is dealing with price objections. Customers may push back on a price point for a variety of reasons, including budget constraints, lack of perceived value, or simply the desire to negotiate. In these situations, a sales professional must have the right mindset to handle the objection effectively.
The Sale is Won or Lost Before the Objection Happens
A winning mindset when it comes to price objections means understanding that the price objection is not personal. It is simply a part of the sales process and an opportunity to provide further value to the customer. A sales professional must be confident in their pricing and the value they provide and be able to communicate this effectively to the customer.
To develop a winning mindset around price objections, encourage your clients to focus on the value they receive, rather than the price point. Stay focused on your credibility statement and your mission to transform the customer’s home. This is how you differentiate yourself from their competitors. Ask open-ended questions that get to the heart of the customer's objections and then provide solutions that highlight the value of your services.
Mindset and Price Shoppers
Price shoppers can be even more challenging to deal with than price objections. These are customers who are only interested in finding the lowest possible price, regardless of the value they receive. However, a sales professional with a winning mindset can turn these situations around.
To develop a winning mindset around price shoppers, encourage your clients to focus on what the customer may be giving up and the benefits of working with your company. Help them to understand that not every contractor with a good price, is a good fit for their project. Encourage not to compromise on value.
Good is not cheap and cheap is not good
Ask questions that get to the heart of the customer's needs and preferences. Then provide solutions that highlight the value of your service and quality. You got to understand that you’re not in the business of selling painting services, you’re in the business of transforming your customers home.
Final Thoughts
As a sales trainer for painting contractors, I understand the importance of mindset when it comes to handling price objections and price shoppers. I encourage my clients to develop a winning mindset. By focusing on the value they provide and their unique selling proposition. We help them to understand that their pricing is a reflection of the value they provide and that they should never compromise on that value.
By developing a winning mindset, you can handle price objections and price shoppers with confidence and close sales at higher prices. Remember, mindset is everything in sales, and with the right mindset, you can achieve sales success and crush your goals and grow your businesses.