Mastering Pricing-Objections: The Power of Results-Based Thinking

Lately, I have been following the work of Jeremy Lee Miner, who has become one of my favorite sales coaches online. Unlike other coaches, this guy gets into specifics of handling common objections with a proven track record of closing high ticket deals. Go check him out on Instagram, where he publishes short and informative content on how to deal with common objections: https://www.instagram.com/jeremyleeminer/

One of the videos he published stood out to me. Here's how he deals with the following pricing objections:

Prospect: "We don't have the money for this."

Sales Manager: "If you did have the funding, is this something that would work for you?"

Prospect: "Yeah, sure."

Sales Manager: "Hold on, why do you think it would though?"

What he's doing here is using the power of questions to redirect the prospect's attention to the desired result, as opposed to the cost of the solution. Allowing the prospect to adopt a results-oriented approach as opposed to a cost-centered approach will keep the call alive and prevent the cost objection from sabotaging the sales process.

As the prospect walks through the reasons why the solution would be a benefit to their company, provided they had the budget, the sales manager can then ask the following question:

Sales Manager: "I appreciate that funding can be an issue from what you said. How do you think you could resolve that so that you can (insert benefits of solution that prospect previously explained to SM)?"

I found this to be wicked smart – not only is the sales manager using questions to redirect the conversation into a direction that is advantageous to the sale, but he's also allowing the prospect to do the work for him.

By redirecting the conversation towards the desired outcome and the benefits of the solution, rather than focusing on the cost, sales managers can keep the call alive and prevent the cost objection from derailing the sales process. As shown by Jeremy Lee Miner's sales coaching, using powerful questions to guide the conversation and allowing the prospect to do the work for the sales manager can be an effective strategy for overcoming pricing objections and closing deals.