3. Build value, don't lower the price!
This week, remind yourself to take the time to build sufficient value in your
product/service before trying to sell the price. Too often salespeople put the cart before the horse. They hype the customer on what a 'great deal' the price is before building the value of what they're selling.
Remind yourself of the following:
1. If you sell strictly on price, the only closing tool you'll have is to make the price even cheaper. This is a tough way to make a living when you're paid commission.
2. When do you feel better about buying something: before or after you see the value? After, of course. And when are you willing to pay more for something: before or after you see the value? Obviously, it's after once again. Bearing this in mind, when does it make more sense to talk about the price: before or after you build the value? After! Salespeople who learn this never have to back away from or apologise for the price of their product/service. They have earned the right to ask for the money by demonstrating why it's worth the price. Remember, people buy when the value is equal to or exceeds the price. By building the value first, it's easier to ask for the close. When you spend time hyping the price and then shift to explaining why the price is what it is, you're on the defensive rather than offensive.
3. Most customers are willing to pay more for a professional job of selling. They appreciate a presentation that builds value and addresses their needs. They are so used to not getting this type of presentation from a salesperson that when they do they can easily justify in their own mind, paying more.
4. When you're selling your product or service, don't forget to build value in you, your company and service after the sale as well. It's hard to put a price on these things, yet most salespeople do a poor job of creating a value proposition for the customer here. If you have belief in yourself, your company and your service then sell it! And if you don't, you should be doing
something else because your customer can't be expected to buy these things if you're not sold on them.
If you are to do a credible job of selling value, you must take the time to study your product and your competitor's. It takes work, but it gives you a huge edge over the salespeople to lazy to do so and who rely strictly on dazzling the customer with how 'cheap' they are. There is little virtue in 'cheap' and there is much in "value". Always remember "Discount" is compensation for lack, usually lack of value in the customer's mind, so to help the customer make a decision the sales people apply the discount!
product/service before trying to sell the price. Too often salespeople put the cart before the horse. They hype the customer on what a 'great deal' the price is before building the value of what they're selling.
Remind yourself of the following:
1. If you sell strictly on price, the only closing tool you'll have is to make the price even cheaper. This is a tough way to make a living when you're paid commission.
2. When do you feel better about buying something: before or after you see the value? After, of course. And when are you willing to pay more for something: before or after you see the value? Obviously, it's after once again. Bearing this in mind, when does it make more sense to talk about the price: before or after you build the value? After! Salespeople who learn this never have to back away from or apologise for the price of their product/service. They have earned the right to ask for the money by demonstrating why it's worth the price. Remember, people buy when the value is equal to or exceeds the price. By building the value first, it's easier to ask for the close. When you spend time hyping the price and then shift to explaining why the price is what it is, you're on the defensive rather than offensive.
3. Most customers are willing to pay more for a professional job of selling. They appreciate a presentation that builds value and addresses their needs. They are so used to not getting this type of presentation from a salesperson that when they do they can easily justify in their own mind, paying more.
4. When you're selling your product or service, don't forget to build value in you, your company and service after the sale as well. It's hard to put a price on these things, yet most salespeople do a poor job of creating a value proposition for the customer here. If you have belief in yourself, your company and your service then sell it! And if you don't, you should be doing
something else because your customer can't be expected to buy these things if you're not sold on them.
If you are to do a credible job of selling value, you must take the time to study your product and your competitor's. It takes work, but it gives you a huge edge over the salespeople to lazy to do so and who rely strictly on dazzling the customer with how 'cheap' they are. There is little virtue in 'cheap' and there is much in "value". Always remember "Discount" is compensation for lack, usually lack of value in the customer's mind, so to help the customer make a decision the sales people apply the discount!
2. Stand Out From the Crowd
Most customers will have visited as many as five or six other Dealerships in the buying cycle.
They will have met five or six other sales people, some may have impressed the customer most won't have. So how can you stand out from the crowd if the customer does not buy from you. Clearly your attitude, skills and enthusiasm towards the customer face to face are your biggest asset, but what about after the event a few days later when they are sat at home still wondering and pondering their next move.
That's where today's tip kicks in
Send them a two lined thank you note from you the minute they walk out of the showroom, imagine how special they will feel when it falls on to their mat, hand written in your best writing!
" Many thanks for your enquiry today, I enjoyed meeting you.
Should you have any queries regarding the proposal, the warranty or the car in general then do not hesitate to contact me personally.I look forward to having you as a valid customer in the months ahead
Best Regards
Jon"
You can stand out from the other sales people by using today's Quick Tip
For example Cards Visit - http://www.inspiredcardandgift.co.uk/
They will have met five or six other sales people, some may have impressed the customer most won't have. So how can you stand out from the crowd if the customer does not buy from you. Clearly your attitude, skills and enthusiasm towards the customer face to face are your biggest asset, but what about after the event a few days later when they are sat at home still wondering and pondering their next move.
That's where today's tip kicks in
Send them a two lined thank you note from you the minute they walk out of the showroom, imagine how special they will feel when it falls on to their mat, hand written in your best writing!
" Many thanks for your enquiry today, I enjoyed meeting you.
Should you have any queries regarding the proposal, the warranty or the car in general then do not hesitate to contact me personally.I look forward to having you as a valid customer in the months ahead
Best Regards
Jon"
You can stand out from the other sales people by using today's Quick Tip
For example Cards Visit - http://www.inspiredcardandgift.co.uk/
1. Failures and Mistakes
Go back and revisit your last three customers that you didn't sell too and ask yourself the following questions:
1. What would you do differently if you could have that time again?
2. What's the one thing that you didn't do, that in hindsight you should of?
3. What questions could you have asked that may have affected a more positive outcome?
4. On a scale of 1 - 10, 10 maximum, how much effort did you really put in with this customer?
5. Did you really make a measurable difference that would have seperated you from the competition in a positive way?
Learning from your mistakes is the best tip anyone could give you!
1. What would you do differently if you could have that time again?
2. What's the one thing that you didn't do, that in hindsight you should of?
3. What questions could you have asked that may have affected a more positive outcome?
4. On a scale of 1 - 10, 10 maximum, how much effort did you really put in with this customer?
5. Did you really make a measurable difference that would have seperated you from the competition in a positive way?
Learning from your mistakes is the best tip anyone could give you!
