DiscoverSecrets in Medical Device SalesWhat No One Tells You About Cost Objections in Sales
What No One Tells You About Cost Objections in Sales

What No One Tells You About Cost Objections in Sales

Update: 2024-09-17
Share

Description

What if the price objection you keep hearing isn’t really about the cost?

In this episode, the Girls of Grit dive deep into one of the most common challenges in sales—cost objections. With years of experience, they reveal an important insight: it’s rarely about the price tag but rather the perceived value. 

Whether you’re selling a $50 product or a $5 million device, how do you effectively communicate the worth of what you’re offering?

They break down the secret to overcoming cost objections by explaining how value is relative and how essential it is for sales reps to identify and convey the unique benefits of their product to different stakeholders, whether it’s a doctor, a purchasing committee, or administrators.

Tune in to learn five practical tips for overcoming cost objections and how to successfully guide your clients toward understanding the true value of your product.

Five Tips for Cost Objections

  • Tip #1: Think About What's Their Why
    Uncover the real issue behind objections by asking open-ended questions about their patient population or current struggles.
  • Tip #2: Don’t Assume, Ask Questions
    Explore deeper than the initial objection. Keep asking questions to reveal true concerns and identify where you can provide solutions.
  • Tip #3: Leave Your Personal Feelings Out
    Stay objective and focused on the value of your product. Avoid letting personal feelings influence your response to cost discussions.
  • Tip #4: Present the Value
    Show the impact of your product on patient outcomes and healthcare. Emphasize that they’re investing in a positive result, not just a product.
  • Tip #5: Present with Confidence
    Discuss the price confidently, knowing you’ve demonstrated your product’s value and addressed their concerns. Confidence in pricing can sway decisions.


Follow The Girls of Grit:

We'd Love to Hear Your Stories!

Your experiences are important to us. Share how you've navigated catalysts for growth and personal transformation. Connect with us on social media or leave a review on your preferred podcast platform. Your feedback and stories inspire us and guide future episodes!

A Team Dklutr production

Comments 
00:00
00:00
x

0.5x

0.8x

1.0x

1.25x

1.5x

2.0x

3.0x

Sleep Timer

Off

End of Episode

5 Minutes

10 Minutes

15 Minutes

30 Minutes

45 Minutes

60 Minutes

120 Minutes

What No One Tells You About Cost Objections in Sales

What No One Tells You About Cost Objections in Sales

The Girls of Grit