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It Is Not The Price That Is Keeping You From Making The Sale
Most salespeople are under the false belief that the lower the price, the better chance they have at making the sale. Nothing is further from the truth. The truth is, your customer will not buy at ANY price if you do not have value established. When YOU truly believe in your product and YOU truly believe that it is worth the price, then the customer will believe as well and the price will become nothing more than a mere detail in the transaction. There are a couple of mistakes you can avoid regarding the price of your product and how you handle it. Price is not a differentiator; do not pretend that it is. Price is the least defensible differentiator in business and also the least effective. Customers understand that a company cannot be the lowest priced and still be the best. Yet companies still proclaim; 'We will beat all prices,' and 'Dollar over invoice.' The only reason they are making those claims is to try to beat their competition, but their competition is saying the same thing. Therefore, if your company is doing the same thing as the competition, how are you any different in the eyes of your customer? Then there are those salespeople who automatically lower the price as a means of trying to add value. When you lower the price as a means of trying to 'add value' to the product or to your company, you are actually doing the exact opposite. You are immediately telling the customer you know the product is not worth what you are asking and you are willing to lower the price. Lowering the price in this manner, you create an uncomfortable selling environment and set up the customer for a bad case of buyer's remorse. If you were so willing to lower the price, what would you have done if they pushed you harder? They will automatically assume you would have gone even lower. This means that even though you gave them a better price, they are more likely to feel like they got ripped off. Seems counterproductive if you ask me. In addition to buyer's remorse, when you start offering discounts, you are telling the customer this is the type of purchase where haggling is necessary. Therefore, by lowering your price as a means of adding value, you actually are taking value away from the product and from your company. When you can eliminate using price as a differentiator and lowering price as a means of adding value, you can focus on what is truly valuable to the customer. By focusing on what the customer feels is truly valuable, you will make price a mere detail in the transaction. The obvious result will be higher margins and happier customers. You can sign up for Tom Richard's Ezine by going to http://www.TomRichard.com/EmailFriend.html
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Coaching Separating Yourself from the Crowd (Part One of Two) Warren Buffet says that insurance is a commodity and price is the main factor in the market place. It seems that nowadays, lowest price wins, regardless of the other factors. More and more people are turning to direct writers because they believe that 15 minutes and a catchy commercial with a dancing lizard can save them some money. Forget the relationship, forget being able to actually see your insurance agent and forget you if you are $0.01 higher than the "other" guy. Unleash Your Inner Sales Superstar & Win More Business Right Now! It's a rainy afternoon on a typical mid week afternoon and the telesales team isn't firing on all cylinders. Cedric really isn't pulling his weight at all. He's been pushing papers around his desk for most of the afternoon and is having a miserable time. His sales figures are below target, his call statistics are below average and he knows that winning the lottery is as likely as him turning it around before the end of the month. John the sales manager also knows that Cedric isn't performing and decides to run a coaching session with him to try and sort things out. So far so good. Three Essential Questions You Must Ask To Make More Sales Ignore Them At Your Peril There's loads of material about making money available on the Internet. Most of it is called "How you can make money on the Internet by selling products called How to make money on the Internet". Keep Sales Simple For those of us working in the exciting world of sales, we are all too familiar with the pressures of meeting our daily, weekly, monthly, or quarterly goals. This pressure can sometimes cause us to loose focus on the simple things that made us successful to begin with. The Five Most Common Mistakes Salespeople Make Over the decades that I've been involved in sales, I've worked with tens of thousands of salespeople. Certain negative tendencies -- mistakes that salespeople make -- keep surfacing. Here are my top five. See to what degree you (or your sales force) may be guilty of them. Its All in the Questions Contrary to many of the books on how to be an effective salesperson, selling in today's market place is just the same as yesterday's. Goods and services are still being bought and sold. Success is still measured by how many sales you close and the profitability within each sale. The Art And Science of Closing - How To Close More Sales Right Now One of the questions I often get asked as a sales coach by sales people and business owners alike is, "How do I close sales better? What closing techniques would you recommend?" Want to Make More Money? Fish in a Bigger Pond! Setting prices is a dilemma most service business owners encounter at one time or another. This week, it was Susan's turn. "When I first started my business, I felt uncomfortable charging for my services. Since I was doing it to make a living, I finally just picked a price I thought wouldn't scare too many people away. Now, based on my available work hours, I can't really take on more clients but at the rate I'm charging them, I'm not going to make enough money to keep the business alive. How do I raise my prices without losing my clients?" she wanted to know. In Sales, Words Just Don't Compute In studies conducted by Motivational Systems of West Orange, New Jersey, researchers found that 72% of the 12,000 participants reported that, in first time meetings, non-verbal communication carried significantly more weight than a verbal message (words). Only 6% of the respondents paid the slightest attention to what a person said at a first time meeting. This finding parallels Dr. Al Mehrabian's research at UCLA, who reported that only 7% of a person's communications effectiveness comes from words, while 38% is made up of tone of voice and 55% from non-verbal communication like eye contact, gestures, body language, dress, facial hair, etc. Ninety three percent of what is effectively communicated is non-verbal. Growing Sales Through Creating Connections Your mission as a business owner is to develop a marketing strategy which offers your potential clients/customers a way to improve their situation in a certain way, solve a problem, provide more value, or open new opportunities for them which will motivate them to pick up the phone and buy from you. This requires that the focus of your marketing plan be placed on your customer - NOT ON YOU! Taken from The 90 Day Marketing Marathon Blunders from A to Z these ten powerful tools will support you in creating meaningful connections with your clients/customers and providing real time solutions to their challenges of the today. 10 Ways To Improve Your Sales 1. Determine your current situation. How are you currently positioned in the market? How do you compare to the competition? Where would you like to be in a Year or in five years and how would you like to get there? Or more appropriately how can you get there, as it is not always the way that you want that works. Planning requires that you understand how you currently stand. Essential Training Skills for Managers Today's manager lives in a world where change has attained Mach speeds. What holds good when you go home may not apply when you return in the morning to work place. Such a tremendous pace of change takes a heavy toll in terms of a dispirited and de energized workforce. 8 Sales Lead Generation Methods I've been getting lots of email from my readers lately. And one thing that I hear often is that people need more sales leads. One Simple Persuasion Secret That Will Blow The Roof Off Your Sales The next time you are shopping for clothes in a department store, take a closer look at the price tags. You'll probably notice that each price tag starts with one price, but then counters with another. They say, "Was $60, Now $30," or, "Regular Price $69.99, Our Price $49.99." Nine Competencies of the Complete Sales Professional Have you ever tried to explain to someone what you actually do as part of the sales profession? I'm talking about what you do, not what your company does or what your value proposition is, but what YOU do day in and day out as a sales professional? You CAN Be a Great Salesperson! When you are in sales, you have the choice to be successful or unsuccessful. The only one to set limits on your income and success is you! A career in sales is a challenge. Use that challenge to motivate and excite you. Meet and beat that challenge! Why Salespeople Fail Since 1990 I have focused on the three primary barriers which affect the performance of salespeople:- The 12 Dumbest Things Salespeople Do We all make mistakes and some salespeople seem to make a lot of them. What scares the vinegar out of me is that most salespeople keep making the same mistakes over and over again. Now in my book - that's just plain STUPID! Customers Want You to Ask for the Money Many years ago, I was the one starting a small business. I ran a part-time resume service out of my New York apartment. One client showed up on time for her first appointment, nervously clutching her notes. 9 TIPS: Dont Sell Me - Persuade Me We all have something in our past we believe someone "sold" us. It might have been a lemon yellow car, a skimpy skirt or a purple tie. We bought it because -despite our gut feeling - we thought we were doing the right thing. We wanted to please the salesman - and we believed that person knew more than we did. Until we got home.
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