Price Game

Laurie Brown

Ask yourself a question. What business are you loyal to and why? When I have asked this simple question to thousands of my students, I hear statements like: "They remember my name", "They listen". "They know what I want and need", "They go the extra mile". Not a single person has said "They had the lowest price!" Amazing isn't it?

It would seem from this informal survey that the key to loyal and repeat customers who recommend you to their friends and family is NOT the lowest price. Why as sales people do we spend so much energy in the "lowest price" game? Because that is what it is...A game. The customer comes in and says "Give me your lowest price!" And if you fall into their game plan they have derailed you from your real job which is to build value.

Think about it...If you offer the "lowest price" isn't there somebody somewhere that can offer a LOWER price? Probably. And there is no way to win with a price shopper. They will leave you the minute that someone else offers a lower price.

Customers play the price game because they don't want to feel stupid. Nothing is more upsetting to a customer than the thought (or the reality) of someone savvier at negotiating, getting a lower price. If your price is negotiable than customers feel the need to protect themselves by demanding the lowest price.

So start building value in your business, in your product and most importantly in doing business with you. Find out what your customer needs. Really listen to them. They don't need the lowest price! They do need a fair price!

But before you start selling you find out more about who they are, what they need, what is important to them. If you are not spending time upfront asking open questions, you are going to miss the mark in finding out what your customers hot buttons are. One of the biggest mistakes salespeople make is selling the same features and benefits to everyone. The more tailored your presentation to your customers wants and needs the more leverage you have in the price game.

The other opportunity sales people have in presenting value is the value that they get from you. Show them what they get when they buy "you". What services are you able to provide that sets you apart? Give them the kind of service that they can brag to their friends about: "My sales consultant makes my service appointments for me! I don't ever have wait for the service advisor to get to me!" My sales consultant set up my TV for me without an extra charge!" "My insurance sales consultant remembers my birthday with a hand written card."

If you build value in your place of business, your product and most importantly in doing business with you, you can win the price game 8 out of ten times.

And remember everyone loses when you play the price game. Everyone wins when you build value!

 

Laurie Brown is an international speaker, trainer and consultant who works to help people improve their sales, service and presentation skills. She is the author of The Teleprompter Manual, for Executives, Politicians, Broadcasters and Speakers. Laurie can be contacted through www.thedifference.net, or 1-877.999.3433, or at lauriebrown@thedifference.net

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