Simply put, intense desire to own reduces the price substantially. Yet, as we all know, even if some prospects ardently desire what you’re offering, you will still hear objections such as, “it costs too much.” For some people, wearing down a salesperson is a sport and to negotiate is a way of life. And, of course, it is a method to offer reassurance to themselves that they are receiving the best value available.
One of the greatest responses to “it costs too much” is to ask, “how far apart are we?” or “how much is too much?” Simple questions such as these will determine what they think your product should cost.
When you know what they are willing to pay versus your actual cost, you are in a position to overcome the objection. Also, given the objection “it costs too much,” you can ask, “in comparison to what?” Again, if it’s a price objection to other availabilities, it is then a matter of presenting the benefits of differentiation over the competition.