Episode 103

Roundtable

Overcoming the Price Objection

 

by | May 24, 2022 | Sales

The MSP Business School Team

Every MSP owner and salesperson has encountered price objections at some point along the way, but do you have the tools to overcome them?

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About This Episode

Objections to pricing when presenting a prospect with the cost of your services is always an uncomfortable situation. How do you set the tone from the initial encounter to ensure your prospects appreciate the value of the products and services you offer?

In this episode, Brian, Robb, and Tim give many examples on how to avoid and overcome price objections at different stages of the sales process.

1:38 – The first scenario the hosts tackle is how to respond to a prospect who wants to jump straight to a quote. Tim gives examples of excellent language to use around this major red flag and advice on how to navigate the situation. He shares how jumping straight to a quote never works, even if it seems to in the short term.

5:22 – Robb dives deeper into how this price objection is just a smoke screen. He demonstrates how to turn the conversation around in order to discover what the real objections are, turning the situation into a fact finding call and an actual appointment.

8:52 – The hosts move onto price objections that occur at the end of the sales process, once all the meetings have happened and the proposal has been drawn up. Robb emphasizes the importance of agreeing on your MRR across the board and never budging on your price. He gives examples of other places where you can create negotiation points so that your MRR is never touched.

12:13 – Robb and Tim give examples of how to prepare your prospect for where the deal will live cost-wise so that there aren’t any surprises when the price is presented. They share how to ask for their current contract so that you have an idea of what services they currently receive and the amount they’re paying for those services.

19:05 – The last topic the hosts cover is benchmarking: what it is and when to do it. Brian reminds listeners that everything covered in this episode is about setting the right expectations and removing the possibility of surprises along the way.

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