Fabric Newsletter

You Want What?! 5 Strategies to Overcome Price Objections

When you're selling brand name products (or anything, really) customers might object to your asking price. Here are some suggestions to help you move past their price objections.

1. Prepare. Today's economy has people more concerned with their budgets than they may have been in the past. Don't get blindsided. Prepare yourself for price objections and develop your response before you do a presentation.

2. Validate and address. Empathize with your customer and then demonstrate the value of the merchandise for the price point. Don't come across as defensive, evasive or manipulative.

3. Educate. Your customer might think all Nike Golf sport shirts are the same because they all have the Swoosh design trademark. They're not! Some manage moisture and others have UV protection. Some styles have no performance properties but they come in interesting textures and colors. Learn about your products and pass that knowledge onto your customer.

4. Show good, better, best. Show your client a choice of items at good, better and best price points. Then help them decide whether a standard sport shirt or a moisture-wicking sport shirt will best fit their needs—and their budget.

5. Don't underestimate perceived value. Remember, brand name customers already perceive a recognized label like Nike, Columbia or New Era as higher quality. And it's true. These brands use innovative fabrics and technologies that generally carry a higher price tag.