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Crush Price Objections: Sales Tactics for Holding Your Ground and Protecting Your Profit – Tom Reilly

25th May 2024
Crush Price Objections

Review of Crush Price Objections

Crush Price Objections is a book about holding the line on prices and protecting margins for sellers. The author hopes to prepare the readers to handle a price objection than the buyer is to offer it.

Sellers’ challenges

One fundamental challenge of dealing with price objections is resolving differences in your subjective realities. Since the outcome is strongly tied to expectations, it is a good strategy to have positive expectations.

Cutting and contracting is not the way to prosperity. We must expand, leverage, and sell our way to. prosperity.

Buyers’ characteristics

People make relative-value decisions – weighing what they want to acquire against what they sacrifice to acquire it, thus it is important to understand the context in which they make their buying decisions.

Attributes that buyers value over price are quality, service, availability, and knowledgeable salespeople.

Dissatisfaction drives change – people change when the pain is greater than the gain.

Selling strategies

Selling profitably requires changing the way buyers view things by stretching their time horizons from short- to long-term and enlarging the conversation from price to money. These 2 fundamental strategies – stretching the time horizons and enlarging the conversation – link all strategies and tactics in this book. Sell them what they want and give them what they need.

Sell the value of your solutions, not the price. Value is what a product is worth to the buyer because of its intrinsic properties or because of what it does for the buyer in the long term. A buyer’s opinion is not market research. He/She is entitled to his opinion, and you are entitled to your price.

The 3-part strategy to achieve preemptive selling are:

First, personal, collateral, and call preparation;

Second, preemptive probing;

Third, changing the conversation.

Price authority requires guidelines and accountability. The author is of the opinion that salespeople should not have the authority to give out discount.

Sometimes, we will lose a sale. Nonetheless, knowing how to lose is as important as knowing how to win as everyone loves a good sport and resents a poor loser.

Author’s 4-step process

4-step process of dealing with price objection:

1. Clarify the objection;

2. Classify the objection;

3. Decide how to respond;

4. Respond

There are 5 categories of objections: price, cost, value, game, and procedural. To learn more about this process, do read the book.

Conclusion

As the author states, selling is relationship management. Everybody lives by selling something, whether you know it or not. You are selling your time and your skills when you are in employment. Thus, the knowledge in this book can be helpful when you are negotiating for a salary or pay raise.

As this book contains a lot of practical points to deal with price objections, reading it one time is not enough to absorb all the knowledge. This is a book to be kept if you are involved in the business of selling.

One-sentence summary for Crush Price Objections

Sell values, not price.

Quotes

  1. Once the toothpaste is out of the tube, it is difficult to replace it.
  2. Even a non decision is a decision; it is a decision to do nothing.
  3. Luck is where preparation meets opportunity.
  4. Reason makes people think, but emotion energies them to act.
  5. No one gets the credit they deserve; they only get the credit they ask for.

Rating

3 out of 3 stars

Interested in Crush Price Objections?

You may get the book from through the link below*.

Get the print book from Shopee here

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