We just had a prospect tell us, “We love it, but your competitor is 20% cheaper.” I know not to race to the bottom, but it still stings when price becomes the deal-breaker. How do you handle price objections without sounding defensive—or giving away too much too fast?

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There’s usually a reason why a competitor is significantly cheaper. There is also usually a reason why I’m having that conversation at all, and why they don’t already have a done deal with said competitor. I start going back over what is most important to them.

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Thanks!

It's simple, ask them if they are 20% cheaper. And they have not gone with them. Why

That's the easiest, and then they will justify and defend why they are still talking to you. And then you amplify that and focus on that alone

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Thanks!

There is a reason they are telling you that instead of going straight to the competitor. Chances are, you are offering something they aren't or are more convenient for some reason. Try to figure out that difference and focus on it during discussions.

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Thanks!

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