Handling Price Objections
Suggested Strategy: Implement a set definition for what it looks like to handle price objections with confidence. This will allow for the individual you are coaching to analyze their confidence next to the ideal definition that you will set together. This will also provide a tangible goal to reach through building an improvement strategy.
Suggested Questions:
Î Rating Question: On a scale of one to six, with six representing that you are 100% confident in handling price objections and one being that you are terrified to receive a price objection because you do not know how to respond, where would you honestly rate yourself and why? Î Define & Coach: When you think about what it might ideally look like to handle price objections with confidence, how do you think you would specifically describe that level of confidence and what it takes to do so?
Suggested Activities:
Î Whiteboard Coaching: On the left side of a whiteboard, ask the person you are coaching to describe how they currently address price objections when they arise with customers. On the right side of the board, write down the ideal confidence in handling price objections that you had discussed with them just prior to starting this activity. Then, erase the left side of the board and work with the individual to build a specific action list for them to put into place as they work to handle price objections confidently.
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