I don’t believe it’s a lack of closing, prospecting or any other skill that most salespeople would say is the #1 way they are hurting themselves and their company.
I believe the #1 way salespeople destroy profit is by not believing in their price 100%.
Too many salespeople roll over and play dead when the customer even hints at not being willing to pay full-price. I recently witnessed an exchange between a customer and a salesperson where the salesperson — even before putting the offer on the table — told the customer they were going to give them a lower price.
You might say this was a verbal tactic and the salesperson was prepared for it by increasing the initial price. Sorry, but it wasn’t. I knew what the regular price was and what the salesperson should have been selling it for.
As if offering a discount right up front wasn’t a big enough mistake, the salesperson went on to give the customer an even bigger discount when they were slow to respond with their decision. Did the customer wind up buying? Yes, so you could say the salesperson go the sale.
The problem is they gave up nearly 50% of the profit they should have made.
Afterward I asked the salesperson why they were so quick to offer a discount and the response didn’t surprise me.
First, they said it was obvious from what the customer was saying to them that they weren’t going to pay full-price. Where the salesperson got that inclination, I have no idea as I heard the entire discussion.
Second, the salesperson said the prices they charge are simply too high for today’s economy and the competition is a lot less.
Wow! Talk about making bad assumptions.
The #1 way salespeople destroy profit is by not having enough confidence and conviction in what it is they sell. This lack of conviction causes them to rollover and give in far too quickly to customers.
The piece that drives me nuts is how they do this based off of actions or comments made by a customer that are taken way out of context.
Believing in what it is you sell and how your customers will benefit from it is essential, and I’m a firm believer in the concept that the more a person pays for something, the more value they will find in it.
The sales profession is not about giving away things. Leave that to your marketing or advertising department. Your job is to believe 100% in what it is you sell and to then sell it at 100% full price.
Copyright 2012, Mark Hunter “The Sales Hunter.” Sales Motivation Blog.