Suppose you offer a top-notch, high-quality product, and there’s a competitor with a lower-priced yet, as you’ve confirmed, a lower-quality product as well. But your potential client only sees the lower price as the advantage, failing to recognize the lower quality that comes with the product as well. As a result, the prospect is ready to deny you the sale.
If that’s the case, then here’s how you can respond:
“Chris, over the years I’ve learned that it’s not always a good idea to base our buying decisions on price alone. Sure, it’s never recommended to invest too much for something. At the same time, though, investing too little has its own dangers as well.”
“You see, by spending too much, you give some more money, and that’s all. On the other hand, by spending too little, your risk could be even greater, because the item you’ve purchased may fail to meet your expectations by not providing all of the benefits that you’re looking for.”
“It’s an economic principle that it’s rarely possible to get the most by investing the least. So, if you consider doing business with a lower-priced supplier, it might make sense, as a form of insurance, to add a bit more to your investment to cover the risk you’re taking, wouldn’t it?”
If your prospect agrees, you can continue with this:
“Well then, if that’s the case, since you’ve seen that our product does provide all of the benefits that you want, why not remove your risk entirely by going ahead with what we have to offer you today?”
