Selling on Price – One of the most common challenges I hear from sales people is that they are forced to sell on price, thereby tightening their margins. A phenomenal mentor of mine, Steve Lishansky, always says, “Price is never an issue unless the value isn’t clear.” If you are struggling with selling on price, then you are not helping your prospects clarify enough value.
Here are three simple steps to avoid selling on price:
Avoid Selling on Price Tip # 1: Understand the Prospect’s Challenges:
How do you select a doctor? Is it based on their technical expertise or degrees? Probably not. Most people select a doctor based upon that doctor’s ability to help a patient understand what’s really going on. When the doctor really understands a patient’s problem through thorough evaluation and dialogue, trust is built. The same is true in sales. Before you jump into giving solutions, thoroughly understand your prospect’s challenges.
Avoid Selling on Price Tip # 2:Learn Their Goals:
Prospects very rarely fully understand their own goals. Just think about your own experiences—how many times has a prospect come to you asking for one thing, when in fact that person needed something entirely different? This happens all the time. By taking the time up-front to ask questions to deeply understand the prospect’s goals, you will not only develop a deeper connection than all other sales people, but you will also be doing a huge service to that prospect—and the prospect will appreciate that.
Avoid Selling on Price Tip # 3:Help Them Calculate the Void:
Understanding where the prospect is now versus where she wants to be is what ultimately creates the value of your product or service. Help the prospect actually calculate lost productivity, lost revenue, and lost efficiency that she is facing right now. Then help her calculate (note: she should do the calculation, not you) what she will gain by solving these problems in dollars and cents. This is ultimately the value that your product or service provides to her. When you help the prospect figure out that void, you become infinitely more valuable.
How do you avoid selling on price with your prospects? Please share below.
Marc Wayshak is author of the book Game Plan Selling and a sales keynote speaker.