Episode 173 | Price Objections - How to Handle Them Like a Pro - Kay Miller

In this solo episode of Uncopyable Women in Business I don't have guests - it's just me, diving into one of the toughest challenges we face in sales: price objections. If you’ve ever been on the verge of closing a deal only to hear, “Sounds great, but your price is too high,” you know how frustrating it can be.

In this episode, I share real stories—from luxury hotels to my Muffler Mama days—to show why selling on value beats selling on price every time. You’ll hear how focusing on the right “Moose” (your ideal customers) changes everything, why the “expensive glass of wine” story still works decades later, and how the classic “feel, felt, found” approach can turn resistance into a yes.

I also talk about negotiation, Chris Voss’s FBI strategies, and why you are the Uncopyable advantage that makes customers choose you over anyone else.

Listen in and get ready to turn objections into opportunities!

Check out Kay's Uncopyable Sales Secrets Video Series: https://www.beuncopyable.com/sales-course

Want to be more successful, make more sales and grow your business? If so, you'll love this podcast. In this show, I (Kay Miller, aka "Muffler Mama," interview superstar business women from all industries. Their experience and advice will give you specific tools you can use to crush your goals like those grapes in my favorite "I love Lucy" episode. I earned the nickname “Muffler Mama" when sold more automotive mufflers than anyone in the world. Besides being a #1 Salesperson, I've been a successful entrepreneur for over 30 years. During that time, I (along with my husband, Steve) have generated 8 figures in revenue for our business. Besides hosting this podcast, I'm an author, speaker, coach, consultant and most importantly....Kelly's mom.

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Uncopyable You (Book co-authored with Steve Miller)

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Transcript

Hey, it's Kay Miller, also known as Muffler Mama. And I wanna welcome you to this solo episode of UNC Copyable Women in Business. Now, usually I have guests, but this time it's just me. And I'm here to talk about overcoming price objections. This isn't just a problem for salespeople.

I consult with a lot of entrepreneurs and business owners. And many of them are the ones who are also responsible for making sales. So if that's you, you have no doubt experienced pushback on price. Price is one of the most common objections I've had to overcome. Price objections plenty of times Now, it's never fun when you're making a presentation and you're killing it. They're nodding along and you're so close to closing the deal. Then the decision maker looks at you and says, well, that all sounds good, but your price is just too high. Talk about raining on your parade if you're in any kind of.

Sales role. Think about the last time that happened to you. How'd you handle it if it didn't go so well? The good news is that you'll have many more chances, and I hope the ideas and examples in this podcast will help you be prepared. So next time you can overcome objections like the Sales Pro you are, the first thing I need to talk about is this.

From the very beginning, you want to choose the right. Moose. The moose. is one of the foundational principles in our UNC Copyable philosophy . And if you're not familiar with the Moose Strategy or the UNC Copyable framework, the best way to get started is to order one of our four UNC Copyable books that my husband Steve and I have written.

Or heck, you could order all four. You'll definitely get an Uncapable education. In fact, why don't you do that right now? Pause the recording. Go to Amazon and search unc copyable. I'll even wait. Okay. Welcome back. Within the UNC Copyable framework, your moose are your ideal customers, the ones that are the best fit and represent the biggest long-term sales potential.

I guarantee that you'll sell a lot more when you start the sales process with a laser focus on your move. Moose and if you sell at a premium price, you wanna target the moose who see the value in your product or service. That way, you don't waste your time, energy, and money trying to sell a prospect who will never buy.

Here's an example of what I'm talking about. One of my favorite ways to illustrate value is with hotels. Some people choose to stay at the Four Seasons, and you know how it is. When we stay at a classy hotel, we know exactly what we're getting. A super comfy bed, a luxurious room, thick bathrobes, and even slippers, plus a staff that makes us feel like royalty.

And there's also that mini bar filled with. Snacks and alcohol. Hmm. That's all I'm gonna say about that. The point is, you're pampered from the minute you check in, and all of that, of course, comes with a price. Now compare that to a Motel six. I've stated those two talk about bare bones, and the last time I stayed in one fun fact, it's the only hotel in Eli Nevada.

They didn't even have those vibrating magic finger beds anymore. The ones with the coin slot next to the bed, you'd stick a quarter in and the whole bed would buzz like, like kinda like an old washing machine. And I have to admit, it was pretty relaxing and I kind miss those. But at motel. The sheets feel kind of like burlap, and the tiny bathroom has that little sanitized for your protection strip across the toilet, and you can hear your neighbor's TV blaring through the wall.

Sometimes you even hear other things. And unfortunately there are things you can't unhear anyway. Your moose understands the difference between a high-end hotel and a motel. Six. Think about your own product or service and make sure you're. Targeting the moose who will appreciate the value of what you're selling.

Now I have a story, and I call it the expensive glass of wine. It's another example of the concept that you get what you pay for. Many years ago, Steve and I were at a restaurant having an early dinner to give you an idea of how long ago that was. I was pregnant at the time, and now our daughter, Kelly, is 33 years old, can't believe that.

When the server came to our table, Steve asked him about what kind of red wine they had. So the server described the house wine and it sounded just fine. But then he told us about a special wine, and when he described that wine, you could see his whole face light up. I swear he practically drooled while he.

Described how it would taste, how it would pair with the meal, and how special the experience would be. And then he told us the price over twice as much as the house wine. Well, since I was pregnant, I couldn't drink, but when the server walked away, Steve and I looked at each other. And we both knew he was ordering that special wine.

If he'd ordered the regular old house wine, he would've been disappointed. He didn't want to miss out on that fabulous glass of wine. And what's weird is all these years later, Steve, still remember. How much he enjoyed that experience. And to be honest, maybe I did take a little sip. Sorry, Kelly. While we were having dinner, Steve and I started talking about a prospect I had for a speaking gig.

I still remember it was the American Welding Society, the Meeting planner. His name was Tom. Hope you're impressed that I still remember that. Well, he was pushing back on price. He said Steve's speaking fee wasn't in the budget. But here's the thing, Steve and I have a saying where value is clear. The decision is easy, and suddenly I had a brilliant idea.

I got up from the table and waddled across the street to a payphone. Yes, I told you this was a long time ago, and I called him on the spot. I told him the story about. Out that glass of wine, I compared it to Steve's speaking fee. Our price was higher. But I told him, when you choose us, you're choosing the special wine.

And you know what? Eventually he did end up finding the money. To hire Steve. So that story proves that if someone understands the value, they'll want your product or service, even if they have to find the money to pay for it. I want you to think of some meaningful experience that has happened to you.

That also demonstrates the value of paying more. I bet you have more than one. Now I wanna talk about the feel, felt, found, classic approach that's been around forever, but it still works. When a customer objects, you say, I understand how you feel. Others have felt the same way, but what they found was. Dot, dot, dot.

So you don't phrase it exactly like that. But sharing examples of actual customers who chose your product or service is one of the most powerful things you can do to influence a buying decision. So tell them about a prospect who thought your price was too. But then realized the value chose to buy from you.

And they were really glad they did. In fact, they became a loyal, long-term customer. That's what you want. That's the real win. And if you use a customer example with your feel, felt, found story, you will close more deals. Of course, I can't leave out my famous muffler mama story. I got the nickname Muffler Mama.

When I became Salesperson of the year for Walker Exhaust an achievement. I have to admit, I'm still proud of. I gave the trophy away unfortunately, but I do still have the picture. When I first started at Walker, I didn't know anything about mufflers, so I decided to spend a day in a muffler shop.

I was wearing super flattering protective gear and steel toe boots so I could see for myself. What life was like day to day for my customers, and that's when I discovered a sales advantage. I really had not thought about the product. I sold Walker mufflers. Each muffler had a lifetime warranty, but the problem was.

So did the competitions and their mufflers were cheaper. But here's what I realized. Those warranties only covered the muffler itself, not the pipes or the gaskets or the labor, the biggest cost. So every time. One of the cheaper mufflers failed the shop had to either eat the extra cost or pass it along to the customer, which by the way, really ticked them off.

That gave me the angle I needed. Our mufflers lasted way longer than the competitions. The fact that our mufflers had a higher price didn't matter because the muffler shops actually saved money in the long run. One way to approach it is that there's price and then there's cost. You can even talk to your customer about the fact that there are cheaper options.

In fact, when I used to sell speeches for Steve, if someone baed at the price, I would say, well, if you'd like a list of cheap speakers, I can certainly provide that for you. So what you sell might have a higher. Sticker price, but explain why the cheaper product can actually cost the customer more over time.

So let's talk about negotiation in sales. Sometimes you'll run into a situation where you do have to negotiate and that's okay. As long as the end result is a win win, you might lower your price. If they also make a concession, maybe they'll buy a larger. Quantity or sign a contract or even agree to a premium rate on financing.

I always recommend knowing in advance what you're willing to give and what kind of compromise you'll need in return, and be willing to walk away if the deal isn't fair to both sides. Sides. One of the most popular books on negotiation is Never Split the Difference by Chris Voss, a former FBI negotiator.

Okay. One of his consistent pieces of advice is in a hostage situation, keep the bad guy talking. And the same strategy works when you're selling. When you get objections, don't fire back. with quick comebacks. Keep asking questions and listen. Ask. Why do you say that? The customer still wants to be heard and understood and talk and think through.

The objections and the reasons why you are still offering a superior value. You know what? A lot of times they'll even talk themselves into buying. So in his book, Voss shares an example of a negotiation role play. He participated in, it was a contest, and the winner would be the one who made the sale while making the fewest concessions.

Well, guess what? He won. Hands down, if you haven't. Read the book. I highly recommend it. Now, you ultimately are the UNC Copyable advantage. At the end of the day, it's not just the product or service you're selling. You are the UNC Copyable secret sauce. Even if your product is basically the same as the competitions, you can and should make the difference.

A friend of mine was working for a distributor, 

Switched companies, once his non-compete expired, all of his customers followed him to a new distributor, even though his price was then higher. And why? Because his relationships were a huge part of the value he provided, and it still is. You have a personal brand. And it's your biggest opportunity to differentiate yourself and create an unfair advantage.

 What do you stand for? What unique value do you offer if your brand includes things like honesty, reliability, and a willingness to deliver bad news even when it's hard? Or your commitment to your customer success, maybe even your charming personality. Well, that's all real added value that will make up for a lot of price objections.

If you wanna take a deep dive into intentionally creating a personal brand that will win more customers over, I really recommend you read. UNC Copyable you, which is all about personal branding, 

always think about the right moose, the prospects who will appreciate what you deliver, and then prove the difference in value. You might even prove it with something like the wine story it represents a big difference in value and the experience when you pay more.

Share stories that immerse your customer in the experience just like our server did and sold us that glass of wine negotiate only when it's a win-win and never forget. You are your own uncapable advantage. Price objections. Of course, they'll always be there, but when your prospects really see the superior value you offer, you become not just their best choice, but their only choice.

And then when you deliver. They'll stick with you for the long run. That's your ultimate goal and your ultimate win. So I hope this gave you some ideas that will help.  Thanks again. I really appreciate you listening and be sure to listen to  my other episodes because they are fabulous.

The guests, I've interviewed have just blown me away. So go out there, turn those objections into opportunities and always remember to be unco.