[Battle of the GPTs] Episode 1 : Objection Handling

Hellooooo Bravado!

For those of you who are unfamiliar, I'm BravadoJanitor, the product manager in charge of all things community. Yes, this means if you hate something about the War Room or SalesGPT, please DM me directly.

With that said, i'd love to launch a series called Battle of the GPTs. The concept is simple!

Each episode, you will find the question I asked to two GPTs, one of them being SalesGPT. While I will not explicitly tell you which answer is from which GPT, here's what you have to do:

1. Read the question
2. Read both responses
3. Vote in the poll which was your favourite
4. [Bonus] Share why in the discussions!

That is all! Sooooo here goes!

Question: What is the best way to deal with an objection to price?

GPT 1 Response:

• Listen actively: Pay attention and understand the objection fully.
• Show empathy: Acknowledge their concerns and need to consider pricing carefully.
• Highlight value: Emphasize the unique benefits and advantages of your product or service.
• Provide evidence: Offer concrete proof like testimonials or data to justify the price.
• Offer flexibility: Present different pricing options to cater to various budgets.
• Justify pricing: Explain the factors that make your product or service worth the price.
• Compare value and cost: Illustrate long-term benefits and cost savings.
• Negotiate or incentivize: Consider discounts or additional perks if appropriate.
• Ask open-ended questions: Tailor your responses to address their specific objections.
• Follow up and stay in touch: Offer further information or assistance.

GPT 2 Response:

• Focus on the value that your product brings and talk about how it can solve their bigger company issues. If you can put a price on how bad their current setup is (make sure it's more expensive than your solution), then what they're paying is almost irrelevant.
• Acknowledge that you aren't the cheapest solution out there but emphasize that you deliver value to your clients, and provide examples of how you can solve their challenges and quantify the cost of their challenges.
• If the subject of budget comes up, ask your prospect why they think your solution is expensive. Try to understand their budgetary number and reason why. Negotiate based on "you need this, I need that" style, and if you have the margin to achieve the pricing point your prospect is asking for, exchange this for a closer closing date or maybe a study case when they achieve their goals with your solution.
• Try to get price out of the way early. If you know the approximate volume of the prospect, you'll have some idea of how they will react to the price. Sometimes bring it up in the first 10 mins of a discovery call. Sometimes end a discovery call with it.
• Refer public sector prospects to other suppliers if they are not willing to pay your price. Ask why they think your competition is less expensive. Understand where their pushback on price is coming from.

There you have it, choose wisely!