Can you match their price?

Most salespeople will encounter this objection at least once in their career. Successful salespeople compare this objection to a tell in poker. According to the Merriam-Webster dictionary, a tell is:

• an inadvertent behavior or mannerism that betrays a poker player's true thoughts, intentions, or emotions
• a revealing gesture or expression
• sign, indication

So, what is someone telling you when they ask, "Can you match their price?".

They are saying they value your product or service over the competition. Why would they even bother speaking with you if they could get everything they wanted for a less expensive price? You have so much power to answer this question. The question is a tell! They value what you have.

When successful salespeople and negotiators hear this question, they slow down. They listen. They empathize with the situation, and then they ask questions. Questions like:

• If ours was the same price as theirs, whose would you choose? Why?
• What does our product/service do differently from theirs?
• Tell me more, why?
• What do you mean?
• Possibly, but match the price to what?
• I'm not sure. What's going on?
• Wow. Then say nothing. Your silence will cause them to talk.
• I need to understand. Why?

Successful salespeople know they do not have to justify the total price, only the difference between the less expensive option and yours. Good discovery questions at the beginning of the process give you the information you need to sell value.

Take a few minutes and write ten questions, other than what helps you put a quote together, that you can ask a prospect to learn what they find valuable. Questions like:

• How can I make the process easier for you?
• To best help with all our resources, what drives this directive?
• What can we do to help you please your customer's customers?
• How could we help you set your company apart from your competition?
• How are you going to measure the success of this endeavor?
• What other alternatives have you considered?

People pay for what they value. The next time someone asks if you can meet their price, before you say yes or let me check, remember they want what you have, slow down, and ask questions.