When it comes to selling, many in sales don’t like to talk prices.
No matter how good a sales meeting has been, there comes a time when price has to be discussed, and for some talking about money can be very uncomfortable.
However this could be a lot easier, if you just focus on value rather than price when selling your product or service.
The very best companies think about it most of the time, which is why they succeed.
The question also becomes easier when you ask yourself – what is value? For each person, it’s different.
For instance, you could buy a pair of shoes for £20 or £200 – both serve the same purpose, yet some think it’s fine to pay bottom dollar and others top dollar, but that’s because they know their marketplace.
Focusing on the value your product gives to a customer is a way of making sure the price becomes, well, less important. If a customer believes they will get a lot of benefit from your product or service, then price is less of an issue.
However, to have the belief to be able to sell like this is imperative, and it’s crucial that all sales people and small business owners know exactly what their marketplace is willing to pay.
Don’t be so desperate to sell that you undervalue your product. Sadly, as searching the web will show there is a godless scramble at the bottom. Be it car insurance, a set of saucepans, a suit or a trillion other things besides, there will always be someone out there ready to undercut you, and to add to this scramble, there won’t be much customer loyalty when the decision making process is based on price alone.
So make sure you know exactly who your customer is and aim at them with laser precision.
Selling on value then becomes a lot easier.
Ask yourself the right questions before you ever get in front of a sales prospect and consider whether a sales prospect is really worth seeing. You need to identify exactly that ideal customer’s problem and if the prospect doesn’t have a problem then, let’s face it; they probably won’t become a customer.
List the benefits that your service or product has and explain how it can take their pain away.
Too often there are people out there with great products who are just aiming at the wrong market. It’s a big world out there with many customers who just need to be targeted correctly.
Though remember, to sell on value requires confidence. It means stating the price without hesitation.
Believe in your product or service and that will give you the confidence to talk money and demonstrate that you are a serious business who knows their worth.
Value based selling is what we should all be doing and it is something that the customer needs to define rather than the sales person.
Once you’ve thought this through, getting him or her to sign on the dotted line should be a lot simpler.