Sales Savvy
June 7, 2015
By Jerry Bellune
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When they say, ‘You’re too expensive.’
Why would your prospect say something like that?
The No. 1 reason is that he doesn’t see the value.
Your value doesn’t exceed the price you quoted.
At least in his mind it doesn’t.
What that actually means is you quoted the price too soon.
You must establish full value before you even mention it.
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What if he wants to know what it will cost upfront?
“We’ll get to that in a minute,” you assure him.
“First, we want to discuss what will work best for you.
“We have many options to choose from.
“I want you to get the one that will best suit your needs.”
“Doesn’t that make sense?” you ask.
Then wait as long as it takes for him to agree.
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Next, go into Diagnostic Mode: Where does it hurt?
Ask him to describe his goal, his pain or his problem.
Probe deeply for the causes and his motivation.
What is it exactly he wants to achieve or fix?
Which option do you believe will work best for him?
Then describe how it will do what he wants.
Paint a picture of him enjoying the goal or easing the pain.
What will it mean in dollars to do what he wants.
Compare your price to the value of the solution.
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What if he says your price exceeds his budget?
Do NOT offer a discount. That kills your margin.
Why not offer terms to let him buy over time?
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What if he says he can’t afford it?
One of two things just happened:
1. You picked the wrong prospect. Shame on you.
2. You have not established value to his satisfaction.
If the former, apologize and make your departure.
If the latter, go back to the cost/value ratio.
If the value is higher, he can’t really afford to pass it up.
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What if he says your competitor is cheaper?
That may be true. You should know if it is.
You should know your competition’s prices and values.
The prospect’s perception may be unrealistic
Or he may be using this only as an excuse not to buy.
Or he may be trying to negotiate a better deal with you.
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Don’t accept this as a request for a discount.
Ask, “What do you mean?” or “Compared to what?”
You need to probe to find his true objection.
That will help close the sale without discounting.
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Recommended reading
Would you like more sales strategies like this?
Contact me for “How to Peel a Green Banana.”
You’ll discover 7 secrets of top sales people.
Just email me at [email protected]
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Next: Your vision, mission and goals.
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Invite them to send me their email address.
They can reach me at [email protected]
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©2015 The Bellune Company, Inc.
Neither MidlandsBiz.com nor The Bellune Company, Inc. makes any warranty as to the results that may be achieved from using this information. ©2015 The Bellune Company, Inc. All rights reserved. Requests for permission to reprint or circulate may be obtained by emailing [email protected]
