From my experience, I have found that a pricing or cost objection is not actually an interest in a lower price, but it is actually an issue of a lack of perceived value. To overcome this sales objection, make sure that you thoroughly explain the product’s value, and help them find a perceived value before lowering the price.
Make sure to fully listen to the customer throughout the sales cycle. During that process, they will explain their interest in your product or service. If you truly listen, you can find the key to their value indicator.
Try using a technique called Feel, Felt, Found. First, empathize with them, explaining that you understand how they feel in their objection. Then, tell them about somebody who felt the same way. Finally, recount how that other customer found your products to be of value to them.
-Aaron Montgomery, 2 Regular Guys, MontCo Consulting
