Cost concerns of a prospect can derail a possible sale.Cost concerns can become a roadblock to a possible sale. Sometimes a person has a desire to travel but the cost of a product might deter them from doing so. The price of travel can be a concern for both the customer and the travel agent. A lot of times the customer may feel uncomfortable discussing their financial situation or have problems telling the truth about how much money is too much. What's worse, it could destroy the sale and make the transaction stressful.
What is the best way to handle them? Avoid them!Doing a complete job of qualifying a situation usually alleviates costs concerns-in theory. In reality, people get scared at the last minute and becomes an excuse.Despite that, the theory is valid. By knowing the prospect's budget range, you can present only products that fall within that range. If you can, try to propose something in the middle to lower end of the customer's range,holding in reserve a higher-priced alternative.
How do you determine a prospect's price range?Establish trust!Make the prospect comfortable and relaxed which may make them open up. Then ask the right questions like"How much do you want to spend?"
Here are other questions you can ask."What did you pay for your last cruise? Would you like to spend about the same this year,or upgrade a bit?""As a rule of thumb, I figure that a trip like this costs $1000 per week per person. Is that about what you had in mind?" "I can serve you best if I have a clear picture of what you want to spend. That way I can make sure you are not in for any unpleasent surprises." "Tours of this type tend to range from $2000 to $5000. Where would you like to be on that scale?" "Are you looking for a splurge or would you like to keep the corts down?" "Without doing a lot or research, my guess would be that this will come in at about $3,500. Would you like me to look for something a fancier. Or shall we keep it at the $3,500 level." "Is there a price level above which you definitly do not want to make any recommendations." "With careful, polite, and persistent questioning, you can usually arrive at a pretty clear idea of what the prospect is willing to spend.
With that information you can select the right product.
A product that might be seen as a bargain.
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