4 Ways to Overcome Price Objection | EP 420

Qualifying Real Objections When a client says they're not ready to commit, immediately funnel them into two specific categories: either they have product uncertainty (concerns about the product itself) or they have lack of information (missing details needed to make an informed decision). A client requesting a formal proposal and time to think signals they're not ready to buy from you specifically—they may still buy from a competitor, so avoid wasting time on deals that won't close with you. Pre-Proposal Qualification Before investing time in creating a formal proposal, ask the client directly if they have product uncertainty or lingering questions/concerns—their response reveals whether they're a serious prospect worth pursuing further. Push for specific information on their exact product concerns or information gaps rather than accepting vague "not ready" responses—this uncovers their true needs and objections. Tactical Communication Approach Slow down your speech and lower your tone when asking about specific concerns, using sincere curiosity instead of directly asking "why aren't you ready to commit"—this delivery method proves more effective at extracting real objections. Reengage clients by asking about specific product features they need or information they lack to feel comfortable committing—this directly addresses their concerns and moves the sale forward.

Prospect Qualification Framework Use the BANT model (Budget, Authority, Need, Timing) to qualify prospects upfront by asking direct questions like "When do you plan to make a decision?" to confirm you're engaging with a legitimate buyer who possesses both resources and authority to commit. Information Protection Strategy Protect your expertise from information hunters by discussing only the what and why of your solution while withholding the how until a formal proposal is presented, preventing prospects from extracting your insights to leverage better deals with competitors. Recognize red flags when prospects repeatedly request additional information, case studies, or meeting summaries—these behaviors indicate they're gathering intelligence rather than preparing to make a buying decision. Buyer Engagement Assessment Evaluate buying signals beyond verbal questions by monitoring the prospect's tone of voice, body language (in face-to-face meetings), and overall engagement level to distinguish serious buyers from time-wasters. Cost of Poor Qualification Unqualified prospects consume hours through meetings and travel without purchasing, transforming salespeople into unpaid consultants who surrender their time, knowledge, and best pricing to buyers with no purchase intention who use this intelligence for vendor negotiations.

An excerpt from the Sales Influence Podcast features host Victor Antonio analyzing the true obstacles that prevent customers from making a purchase, regardless of need or budget. Antonio uses his own reluctance to buy a replacement computer to illustrate that consumer hesitation is often not due to a lack of money, time, or trust, but is instead the perceived mental effort of transitioning to a new product. This resistance is generated by the mental anguish and imagined fear of administrative tasks, such as transferring data, finding registration codes, and potentially updating or repurchasing software licenses. He defines this core hurdle as buying friction, emphasizing that it represents a significant switchover cost for the customer. The primary sales strategy proposed is that companies must actively reduce this friction—by offering seamless, guaranteed transfer services—to encourage rapid customer conversion and increase sales velocity.

The "Sales Influence Podcast" hosted by Victor Antonio, focuses on key factors customers and investors consider before making a purchase or investment. Antonio draws on concepts from Matt Hannannah's book, Consultative Selling, to highlight a "new trinity" of questions that buyers want answered: how much the investment will cost (including money, time, and effort), how fast they will see a return of capital (the break-even point), and how often they will see a return on capital (the resulting profit). The podcast emphasizes the need for sales professionals to quantify this value to assist their "champions" in securing internal buy-in, offering a concrete example of calculating investment costs, break-even time, and long-term profit for an enterprise software solution. 

Business Viability Formula Customer acquisition cost must be lower than lifetime value to ensure business success—this single equation determines whether a company will survive or fail according to Kevin O'Leary from Shark Tank. 8 out of 10 businesses fail within the first 36 months primarily because they spend more on client acquisition than the return on investment they receive from those clients. Customer Economics Calculation Calculate lifetime value by analyzing purchase frequency and average order value over a defined period like 3 years—for example, a customer spending an average of $20,000 over 3 years represents their total lifetime value. Over 90% of people cannot calculate their customer acquisition cost, yet knowing this metric and comparing it to lifetime value is essential for creating an effective marketing strategy. Growth Strategy Reduce customer acquisition cost while increasing lifetime value through product expansion and service bundling to create a winning sales strategy that attracts investors.

Goal-Setting Strategy Impact Women-run companies achieve 99% positive returns over 10 years by setting realistic 90-day sales goals with 95% hit rate and 17% annual growth, while men hit targets only 65% of the time despite 30% growth rate, according to Kevin O'Leary's portfolio analysis across all company sizes. Realistic goal-setting creates 38% drop in employee turnover and frees up to 11% cash flow in women-run companies, as reduced turnover lowers recruitment and training costs while maintaining consistent operations. Employee Motivation Mechanics Achievable targets provide employees "line of sight" to success, creating culture of winning that motivates pursuit, while unrealistic stretch goals cause disenfranchisement and demotivation when salespeople cannot visualize path to achievement. Consistent goal achievement builds stable company culture and customer experience as employees stay longer and genuinely believe in targets, versus high-turnover environments where salespeople leave after missing unrealistic quotas.

Root Motivation Discovery The "magic why question" is crucial for uncovering the root motivation behind actions, surpassing surface reasons like making money. The "five whys technique" used by Toyota involves asking "why" repeatedly until the fifth answer reveals the core issue, aiding in problem-solving. Successful Company Strategies According to Simon Sinek's "Start with Why," successful companies begin with "why they do it" rather than focusing on the what or how. Personal Motivation and Clarity Completing the statement "I just want to be able to..." helps reveal one's true motivation, whether it's business growth, expanding market share, or family support. Understanding your why provides clarity and direction, determining the what and how needed to achieve goals, especially through challenges.

Financial Strategies The two levers in family finance are reducing costs and increasing income; once costs hit a minimum survival level, focus shifts to income growth. Families often overlook the income side of the equation; exploring ways to leverage skill sets or sell items from the garage and closets can generate additional revenue. Income Optimization The Martinez family discovered they were underpaid and, despite fear, successfully transitioned to new jobs with higher pay, validating the strategy of assessing one's market value. Victor Antonio emphasizes assessing personal skills to determine if one is earning as much as they should, possibly requiring a third-party perspective for clarity. Financial Literacy The first step in improving family financial health is to assess the debt situation and its causes; the second step is enhancing financial IQ to instill urgency for change.

Financial Freedom and Options Money as a raw material represents labor and time, and when processed into options, it guarantees more choices in life, such as buying a house cash or on credit, or switching jobs. The more money you have, the more options you have, which is what Financial Freedom is all about, according to Victor Antonio. Money as Medium of Exchange Money is a medium of exchange that represents energy and work stored on paper, such as a check for $1000 representing 40 hours of labor. Happiness and Wealth Money guarantees options, not happiness, which is a limited argument due to permutations like knowing rich unhappy people and poor happy people.

Victor Antonio explains that there are three distinct types of buyers a salesperson will encounter, and each requires a different sales approach. The first type is the unaware customer, who needs to be made aware of a problem they are experiencing. The second type is aware but apathetic, necessitating a shift in the sales conversation to emphasize pain points and urgency to make them care about the issue. Finally, the third type of buyer is aware and cares but is scared of the risk involved, so the salesperson's job is to mitigate anxiety and increase certainty to facilitate the purchase.