I do not think that I have ever told a prospect or customer the price of Sales Concepts’ training without getting an objection. I have always objected to the price when told by a sales person the price of a product or service that I was considering. It just seems like the right thing to do. Nine out of ten times a better price will probably be given. It does not have to be.
It's easy as a manager to say "don't discount, sell value, be firm." It is not so easy as a sales person to hold firm to a price. It is a difficult dilemma. What does a sales person do?
I honestly believe that seldom is an order lost because of price. A sale is lost because the prospect or customer is not convinced that the price is worth it. As a sales person, your job is to convince the prospect or customer the value of your product.
What should you do when someone says your price is too high? You can: act surprised, ask if the person is kidding, say you do not understand, or even ask why this person thinks you will lower your price. An interesting discussion may follow. If the customer is spending a lot of money or getting upset and you believe he or she may go elsewhere - again nine out of ten times probably not - you may do something to reduce the tension. This is more likely to happen if you believe your price really is too high.
THINGS YOU CAN DO WHEN PRICE OBJECTIONS OCCUR. SELL VALUE. HOW DO YOU SELL VALUE?
| Scenario One |
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Prospect/customer: |
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"Your price is too high." |
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Ask about it. |
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Then respond: |
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"That is exactly why you should consider us because..." |
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Then provide specific statements of value. |
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| Scenario Two |
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Prospect/customer: |
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"Your price is too high." |
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Ask about it. |
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Then respond: |
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"Please allow me to explain why we are higher than the competition." |
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Then provice specific statements of value. |
For example, at Sales Concepts we state that we have one instructor for every four attendees, we tailor the sales scenarios to each individual's strengths, weaknesses, products, services, our goal is to change behavior. Attendees actively participate. They practice the theories taught during the class. As in real-life, our courses are competitive. We have a follow-up program for our courses. Attendees receive our Individual Training Program, the ITP. Once a month for twelve months they receive follow up to the program they attended.
PRACTICE
Practice your "That's exactly why" statements. Practice talking to the mirror. Make eye contact with yourself. Smile. Say it over and over—what makes your product great, what makes you better than the competition. Don’t forget the benefit of you. Make sure you can deliver what you promise. Say your statement over and over until you sound believable and are comfortable with it. If you can sell value to the mirror, it will be easy to sell value to prospects and customers!
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