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Bob
Reed-Sales Concepts
Your
Price is Too High. Many salespeople hear these words on a regular basis.
In fact, price is often mentioned first when attendees at our sales
training course build a list of most frequently heard objections.
Unfortunately, we can respond to price objections in unproductive ways,
such as becoming flustered or upset, blaming their company for being out
of touch with reality, or bad mouthing the competition. But the good news
is, you do not have to walk away or give the business away. You can make
the sale at your price. Here are some thoughts to keep in mind.
Objections
are a good thing.
When
a customer objects, it means he or she is interested and needs to buy or
wants to buy.
To
Resist is Natural
The
customer has every right to question or object, and the customer should
expect price objections to be addressed in a straightforward manner. A
price objection could be the real objection or a smoke screen, but in
either instance, it is a call for additional interaction.
1.
A price objection could be a tactic to frustrate you and slow you down.
2.
It could be just an automatic test to make sure you offered your lowest
price.
3.
The customer may honestly feel the price is too high.
4.
Perhaps quotes received from the competition are much less, and you have
not shown and/or gained agreement on additional value in your solution.
Product
or Service Price is Only One Factor
If
price were the customer’s only consideration, salespeople would not be
needed at all. Broadcast the price and man the phones, terminals, faxes,
and mailrooms. Most buying decisions are not made on the basis of price
alone. In fact, survey after survey of customers and buyers indicate price
is not at the top of their list. Company credentials, product quality,
design, and consistency, as well as service and support delivery are just
as, if not more, important than price. These things impact the cost of
doing business—the bottom line.
Sell
Value
Always
remember that value is in the customer’s eyes, not yours. Focus on the
customer’s agenda and what he or she perceives as value. Once
determined, your job is to help the customer “dollarize” the added
value of your solution. Added value, such as training, preventative
maintenance, twenty-four hour hotline, product consistency, etc., must be
perceived by the customer. Now, rather than debate price, factor in what
your value-add would cost if purchased separately, or how much the
customer would risk if not acquired.
Do
Not Debate or Disparage Competition
Do
not fall in the trap of bad mouthing your competitors. It serves as free
advertising for them. This does not mean you should not know everything
about your competitors. To the contrary, know them very well; it allows
you to emphasize the features, advantages, and benefits that set you
apart.
Sales
Concepts, Inc., is a Roswell-GA based provider of tailored training for
people who work in sales, service, telemarketing and management. For more
information about Sales Concepts, Inc. call (800)-229-2328 or visit www.salesconcepts.com.
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