It's frustrating when a sales rep for a commercial construction equipment supplier invests his or her time and energy to find a prospect, only for the prospect to reject their offer because of price. Commercial construction equipment isn't cheap, with full-sized excavators costing anywhere from $100,000 to a half-million dollars. As a result, many prospects reject sales offer because of price. As a sales rep, you can't change the mind of every prospect who objects your offer because of price, but there are ways to deal with this otherwise common objection and score more commercial construction equipment sales.
Don't Talk About the Price Immediately
Unless a prospect specifically asks about it, wait until the latter half of your conversation to discuss the price of your company's commercial construction equipment. Opening with the price may deter some prospects from continuing with the conversation. If you wait, however, you'll have the opportunity to nurture the prospect more effectively so that he or she will be more willing to make a purchase.
Focus on Value Proposition
The key to overcoming price objections when selling commercial construction equipment is to focus on value proposition. In other words, focus on the value of your company's commercial construction equipment and how it can help the prospect's own company make money. B2B prospects emphasize the importance of value. Specifically, they want to purchase products or services that will increase their company's profits. If a type of commercial construction equipment costs more money than what it will earn their company, they probably won't buy it. Conversely, if the equipment will earn their company more money than what it costs, they'll probably buy it. By focusing on value proposition, you can show prospects the cost-savings value of your company's commercial construction equipment.
Offer Leasing as an Alternative to Purchasing
Leasing has become a popular alternative to purchasing commercial construction equipment. As such, you can use it to overcome price objections in this industry. Allowing customers to lease your commercial construction equipment essentially means that they'll pay a specific amount -- usually per month -- to use the equipment. Customers will never own the equipment. Rather, they pay to use it just like they would if they were leasing a car.
Offer Commercial Construction Equipment Loans as an Alternative to Purchasing
In addition to leasing, another purchasing alternative to consider offering is commercial construction equipment loans. How do these loans work exactly? When customer takes out a loan for commercial construction equipment, he or she agrees to purchase it by making small monthly payments. The actual equipment is used as collateral for the loan, so customers aren't forced to use other collateral to secure it.
In order for commercial construction equipment companies to be effective, you need the right list. But not just any list. You need a focused list of companies that are reflective of your best customer or customers. SalesLeads can help you develop a list that is targeted to specific companies with the right company names and contact information. Try it now.