Why you should cheer when a customer objects to price
Many of the sales people who I have the pleasure to work with would not include sales in their description of what they do for a living. Most are in the broader category of customer service, which requires a strong set of diverse skills. They view themselves in a service role more so than a sales role. This is fine because it fits their personality and the needs of their customers well - most of the time.
A problem we often discuss involves a customer objecting to price - and that's not the real problem. The problem comes in the customer service/sales person's reply, which is often 'full retreat' into helping the customer figure out how to save money, when that might not be:
a) What they came in for or
b) What's in their best interest
It certainly isn't what is best for the company.
When a customer objects to price it's the first sign they are ready to BUY the product or service being discussed. That's right, price objection is a buy signal.
Essentially they are telling you, "I want this, but I don't think it has as much value as you think it does. Please explain more about why it has the value you state?"
We might need to recalibrate our hearing on this topic. So we hear what the customer is saying rather than just default to: "I don't want that - it's too much money."
Now, I do recognize that you may end up with a customer not buying because they cannot afford the product, but my bet is it will not be the case for the majority of customers.
Listen to them. Ask them which of the benefits or features they don't understand. Chances are they may not understand them all the first time through, so they are discounting one or more of them.
Get practical. Explain the benefits in a context that matters to them.
You still might not make the sale, but you'll educate and inform that customer. They might go 'think about it' and be back next week, ready to buy.
Give it a shot and let me know how it goes.