Shane Decker How to Defend Against ‘It’s Cheaper Down the Street’ Learn four statements you can use to counter this objection. Published 8 years ago on June 23, 2014 By Shane Decker Instore July 2014 Issue Share Tweet ONE OF the top objections that jewelry salespeople hear from customers is “It’s cheaper down the street.” Does this mean that the product down the street is of a higher quality and is really cheaper? Probably not. More likely, the product is of a lower quality and naturally costs less. Unfortunately, most salespeople panic when they hear this objection, and they run back to get a lower price. Start by finding out where the client got this information and try to uncover where the discrepancy may lie. For instance, what was the cut of the diamond? What are the percentages? What is the real color and clarity? What kind of lab report does this diamond have? Where is the diamond? Is it really available? Is it clarity-enhanced? How thick is the girdle? Was it heat-treated to change the color? Never slam your competition, but create professional doubt about the information that the customer has. Present your store’s benefits, which give the client peace of mind and freedom from risk. Talk about a full-service shop if you have one, and mention that you offer some repairs while the client waits, diamond setting, and sizing. Discuss diamond warranties, trade-in policies, and guaranteeing the color and clarity (which most won’t do). Advertisement Some statements that carry a lot of weight include: “When you buy a diamond from us, we’ll give you what you paid for it when you trade it in later for a bigger one.” “Our diamonds have been personally selected, and they have to meet strict tolerances. Our rejection factor is extremely high — in fact, we’ve always wondered who bought the ones we rejected.” “We trade for diamonds purchased from other sources, but because most diamonds are cut incorrectly, we have to look at re-cut weight — because most diamonds don’t meet our standards.” 5We have a GIA-trained staff that sells with integrity. We’ll never tell you a diamond is better than it is.” “We’re family and locally owned.” If none of these professional approaches work, you can then negotiate in a professional manner. This is a last resort and should only be used to keep the client from walking. Never use negotiation as a cop-out to close the sale early. Sell yourself, your company, and your product — in that order. Close the sale and never make it about the price. There are tons of factors that give your product value. So it really isn’t “cheaper down the street” if we’re doing our job correctly. Remember: Your clients will forget about the price, but they’ve got to live with the quality for the rest of their lives Related Topics: sales tipssales trainingShane Decker click to Comment(Comment) Up Next It’s the Training Technique Salespeople Hate Most. Here’s How to Make It More Fun. Don't Miss This Common Word is Not Rejection, It’s Just an Objection Shane Decker Shane Decker has provided sales training to more than 3,000 jewelry stores. Shane cut his teeth in jewelry sales in Garden City, KS, and sold over 100 1-carat diamonds four years in a row. Contact him at [email protected]. Advertisement SPONSORED VIDEO Thinking of Liquidating? Think: Wilkerson When Peter Reines, owner of Reines Jewelers in Charlottesville, VA, decided it was time to turn over the “reins” of his 45-year-old business to Jessica and Kevin Rogers, he chose Wilkerson to run his liquidation sale. It was, he says, the best way to maximize the return on his decades-long investment in fine jewelry. Now, with new owners at the helm, Reines can relax knowing that the sale was a success, and his new life is financially secure. And he’s glad he partnered with Wilkerson for this once-in-a-lifetime opportunity. “There’s just no way one person or company could run a sale the way we did,” he says. You may like Promoted Headlines Thinking of Liquidating? Think: Wilkerson Wilkerson Consolidating Stores? Time to Call the Experts! Wilkerson It’s Going to Set Us Up Very Nicely for Retirement Wilkerson Advertisement Latest Trending Videos Press Releases1 day ago SJTA Announces 2022 Board of Directors Columns1 day ago Here’s Why You Should Consider Hiring a Business Coach Cover Stories1 day ago 23 Ways to Do More in Your Business by Doing Less Brainstorms1 day ago Take Leave of the 21st Century With an Amish Hour Sponsored Content2 days ago Thinking of Liquidating? 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