What No One Tells You About Cost Objections in Sales

Secrets in Medical Device Sales

What if the price objection you keep hearing isn’t really about the cost?

In this episode, the Girls of Grit dive deep into one of the most common challenges in sales—cost objections. With years of experience, they reveal an important insight: it’s rarely about the price tag but rather the perceived value.

Whether you’re selling a $50 product or a $5 million device, how do you effectively communicate the worth of what you’re offering?

They break down the secret to overcoming cost objections by explaining how value is relative and how essential it is for sales reps to identify and convey the unique benefits of their product to different stakeholders, whether it’s a doctor, a purchasing committee, or administrators.

Tune in to learn five practical tips for overcoming cost objections and how to successfully guide your clients toward understanding the true value of your product.

Five Tips for Cost Objections

• Tip #1: Think About What's Their Why
  Uncover the real issue behind objections by asking open-ended questions about their patient population or current struggles.
• Tip #2: Don’t Assume, Ask Questions
  Explore deeper than the initial objection. Keep asking questions to reveal true concerns and identify where you can provide solutions.
• Tip #3: Leave Your Personal Feelings Out
  Stay objective and focused on the value of your product. Avoid letting personal feelings influence your response to cost discussions.
• Tip #4: Present the Value
  Show the impact of your product on patient outcomes and healthcare. Emphasize that they’re investing in a positive result, not just a product.
• Tip #5: Present with Confidence
  Discuss the price confidently, knowing you’ve demonstrated your product’s value and addressed their concerns. Confidence in pricing can sway decisions.

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Κεφάλαια

1. What No One Tells You About Cost Objections in Sales (00:00:00)

2. Understanding the Value Over Cost (00:02:21)

3. The Starbucks Analogy (00:03:37)

4. Revealing the Secret to Cost Objections (00:04:25)

5. Presenting with Confidence (00:06:40)

6. Five Tips for Overcoming Cost Objections (00:08:12)

7. Selling Outcomes, Not Products (00:20:38)