You’re good at handling customer objections but you always drop price to secure the sale? Here’s the reason why.
We get this question a lot.
“I’m great a building rapport and handling objections but I have to drop the price a lot before customers buy from me. What am I doing wrong?”
You might be able to make a customer comfortable almost immediately. Maybe even become their best pal. This is great. It will help you to get through your sales presentation easily but business is business. Customers will not spend more than what they see value in just because you ask them to. Here are a few things to consider that will help you retain profit in your orders.
Is your product worth buying?
Purchasing your product or service must make a significant difference to your customer’s life or business. If it helps but just a little, it isn’t worth the effort of going through the buying process.
Take a moment and ask yourself this question “is my product actually solving a problem?” You may think your product or service is amazing but is there a need for it.
Does your product save energy or effort? Could it be something that might save someone’s life someday like a fire alarm? Is it something that would help a business save time and money? Is it something that improves someone’s quality of life?
Or are you trying to sell a random little gadget that nobody needs, wants or cares about. Would your customer do just as well without it? If nobody needs it, nobody will pay a lot for it.
It your product worth paying so much for?
OK so your product is actually solving a genuine problem. But is it solving this problem at the right price? How much do other companies charge for a similar product? Why should the customer buy it from you?
Imagine you want to buy a new mobile phone. You walk in a store and they’re selling a phone for $300. You know you can get the same phone somewhere else for only $250. Why would you get it from this store?
There could be good reasons that explain the extra $50 charge. It might be because they offer extra warranty or bundled accessories. Maybe they do free repairs if the screen cracks. Perhaps they even sell for less than $250 if you choose not to buy the added accessories. But if they don’t explain this clearly, you would just walk away because you do not see value in buying the phone from this store when compared to the cheaper option.
Now think about your own sales presentation, are you discussing all the key benefits of owning your product and the benefits of buying from your company? If you want to make more money with an effective sales presentation consider buying our fantastic eBook.