All eyes seem to be on Big Ben these days.

No, I'm not talking about Ben Roethlisberger, starting quarterback for the Pittsburgh Steelers (although I keep getting requests to trade Kurt Warner for him in my fantasy football league - thoughts anyone?). I'm actually talking about Ben Bernanke, Chairman of the Federal Reserve. Just last week, the Fed declined to raise overnight lending rates in an effort to continue pulling the economy out of the recession, noting that the economy is finally recovering. Hoorah! Let's keep the momentum going!

Does 2010 look equally positive for your business? Will this be the banner year for your sales team? One of our partners, Ken Jones, recently offered some great advice on planning for the recovery for those with marketing responsibilities. But if your business card says something to the effect of "sales and marketing," let me offer some thoughts. Specifically, how can you overcome next year's price objection following a period where your customers were likely more price sensitive than ever before in recent times? These five tactics may help.

• Postpone the price objection. Price isn't very relevant until you know what your prospect needs. Therefore, talking price at the outset of a meeting can cause your prospect to become uninterested seeing as there is nothing to substantiate it yet. Stress value. Build your value proposition, one layer after another, then set the price. Of course, if your prospect absolutely insists that you answer the price question immediately, then do so. Clearly, you don't want to risk the chance that your prospect's burning, unanswered question blocks the remainder of your presentation.
• Break down the price. If your prospect is objecting to the magnitude of your price, try breaking it down over a logical period of time. Sure, $50,000 may seem like a large investment for some. But if your product has a 20-year life span, the price becomes $6.85/day. The value proposition becomes even sweeter, of course, if your product can save your prospect money, time and stress down the road.
• Use the power of exclusivity. Stressing the exclusive features and benefits of your product relative to your competitors is a highly effective sales tactic. If you charge higher prices than your competitor, then it must be because you offer more to your customers. Identify your superior advantages and offer compelling arguments as to why these advantages can only be enjoyed through you. In other words, justify the price with facts. If you do, your prospects will feel as though only you can satisfy their needs, thereby making price much less of a concern.
• Use highly detailed comparisons. Be prepared to offer logical reasons for the price you are asking. One way to do this is to compare the quality of your product to that of another's (including your prospect's in-house offering). Pit quality against quality. Use lists and lots of detail to show differentiation. And to substantiate your claims, rely on case histories and client testimonials. Visual evidence and verifiable proof always helps produce powerful comparisons, regardless of what you are selling.
• Start with the most expensive. Consider the following study from the book, Selling Dynamics, published in 1984:

Macy's of New York once gave ten professional shoppers $100 each with instructions to enter a Macy's department to buy merchandise without mentioning price. The shopper was to buy whatever was offered by the salesperson, up to $100. Not one of the shoppers was able to get rid of more than $35. For example, when one shopper asked about ladies' hats, the salesperson brought out a hat within her own price range, $15. The buyer could have bought a $100 hat.

To determine what your prospects can buy, as opposed to what your prospects will buy, consider selling from the top down. Getting prospects to agree that the best is, in fact, best is not very difficult. Then, when you show them something less expensive, they have the ultimate, high-quality product to compare against. Continue selling value. Eventually, you will actually reach a product/price point below which your prospects will feel comfortable. Prospects want to buy the best product they can afford. This method should help you determine exactly what that number (or range of numbers) is.

Learning how to handle objections and stay in control is one of the greatest challenges in professional, consultative selling. Like many things in life, your sales success is largely dependant on your attitude. If you assume a sale is over when the first objection is presented, then it is. However, if you regard an objection as an invitation to keep selling, you are more likely to enjoy a successful close. Hopefully these tips will help you in that endeavor. Happy selling!