Overcoming Objections on the Phone: Your Competitor has a Lower Price
TRANSCRIPT: So, how about the objection that your competitor offers a lower price? We’re on the phone with the customer, right? They call us and ask what our best price is or what the price is that we have listed on that vehicle online and they say, “Well, your competitor’s got that vehicle for $1,000 less than you guys”.
How do we overcome the objection, “your competitor has a better price”? The way that we overcome that, is again, we frame the next step in a way that overcomes the objection. Our next step is to get an appointment that shows, so, here’s how we overcome that objection, “Your competitor’s got that vehicle for $1,000 less.” “Well, Mr. Jones, I can assure you that here at Century Motors, we are never going to be beat on price. In fact, if we cannot meet or beat any valid written offer on an in-stock unit, we’ll fill your tank with gas AND give you a $100 gift card to the Olive Garden. Now, I have two test drives open on that vehicle this morning: I have a 10:15 and a 10:45. Which one of these works better for you?”
See, I didn’t answer his question. I didn’t give him a lower price, because here’s what’s going to happen if I do. If he says “your competitor can give me that vehicle for $21,250”, I might say, “Well, I can beat that. I can be at $21,000 even.”
He hangs up the phone and he calls your competitor and says, “Hey, Century Motors over there says they can do $21,000 even”. At some point we’ve got to stop this back and forth madness and get the customer in for an appointment that shows, and the best way to do that is to overcome their objection by saying, “We’re not going to be beat on price. If we can’t meet or beat any valid written offer on an in-stock unit, we’re going to fill your car with gas and we will give you a $100 gift card to the Olive Garden”. Now, let’s set some urgency here by adding, “I’ve got two test drives open on that Camry this afternoon; I’ve got a 12:15 and a 12:45. Which one works better for you?”