“Your price is too high.”
If you’re in sales, you’ve likely heard this line before. It’s the dreaded phrase that makes your heart race and your palms sweat. But what if I told you that this isn’t an objection at all? In fact, it’s not even close.
It’s a statement, a tactic, and a chance for you to shine. Let’s break it down.
In a recent coaching session with a salesperson, let’s call her Karen, I dropped a bombshell. She nearly lost her mind. “Your price is too high” is not an objection, I told her. She looked at me like I was crazy. “What do you mean it isn’t an objection?”
I explained that, when a buyer says your price is too high, they’re not asking for a discount or refusing to pay. The buyer is making a statement. It could be an opinion, or it might be a tactic to see how you’ll respond. The problem is, too many salespeople, including Karen, immediately go on the defensive. They feel they must justify their price and explain its fairness. Worse, they may start offering discounts.
But what if you didn’t take the bait? What if you didn’t treat this as an objection that needs to be overcome?
I asked Karen to think about it.
Did the buyer say they couldn’t afford it?
Did they say the price was outrageous or insulting?
Did they flat-out refuse to pay?
No, they didn’t. They simply made a statement.
So why are you getting defensive?
Instead of jumping to defend your price, I told Karen to plant her feet and be skeptical. Challenge the buyer. Push back a little. Say something like:
– “You’re telling me that for a reason?”
– “Which means it’s over?”
– “I know it is. Tell me you can’t afford it, and I’ll be on my way.”
This forces the buyer to clarify their statement. It forces them to explain themselves, rather than you justifying your price.
Here’s the thing: we all do this in our daily lives. As buyers, we often push back on price, even when we might be willing to pay more. Sometimes, we’re just testing the waters. We’re checking for room to negotiate. Or, we might not fully grasp the value of what we’re buying. This is an opportunity for the salesperson who does not react. The professional salesperson can dig in and ask more questions. And help the buyer understand the value.
This brings me to the real problem. Salespeople with a poor relationship with money, will accept your buyers’ objections. This is true if you think a certain amount of money is a lot or if you always shop for the lowest price. There’s almost a 100% correlation between how you buy and what you accept from your buyers.
For sales leaders, this is a crucial topic to discuss in your next sales meeting. And for salespeople, it’s time to reframe your approach. Plant your feet. Challenge your buyer. And remember, “Your price is too high” is not an objection. It’s an opportunity to show value and take control of the conversation.
Ready to take your sales conversations to the next level? Start by rethinking your approach to pricing objections. If you are serious about solving this problem on the sales team as a leader or an individual producer, reach out. We have group and individual options available to fix the underlying challenges.
