We are continuing on our quest to look at the 5 Secrets to Selling at Full Price.
Here is Secret #2:
2. Position your product/service to warrant full price.
If your customers see what you;re selling as being cheap, then they’ll expect you to sell it to them at a reduced price.
Customers will always compare. It’s one of the ways they justify in their mind the price/value relationship.
Help them out with this by making sure the customer sees you as the premium solution.
What does your product or service say with regard to price and quality?
What is the perception the customer gains from your product or service after they’ve purchased it?
I’m always amazed at how companies and salespeople will drop the ball after the customer buys. If you want referrals (and don’t forget that referrals are far more likely to be full-price customers than any other new customer), then why would you not want to make sure things work?
One of the best ways to measure the qulity of how your product/service is positioned is by measuring the amount of business you get by way of customer referrals. High-quality will translate into referrals. It doesn’t get any simpler than that.
Let’s go back and discuss more how to position the product. What you’re presenting must be positioned properly. Any comparisons you make with your product must be against other competitive items that are seen as being equal or even higher in price and quality.
An excellent way to do this is with by focusing on the high-end outcomes the customer is looking for. What this means is your product/service should be positioned against the risk/benefit outcome the customer has stated is their biggest concern.
One example is you may be selling security systems for computers:
A low-end outcome might be to prevent employees from downloading software for personal use. A high-end outcome could be preventing a malicious attack on the computer system that shuts down the company for an extended period of time.
Clearly the latter risk is a high level outcome that is going to warrant a much higher level of confidence that only a higher-end product/service could provide.
So, suffice to say, you need to position your product/service to warrant full price.
Keep coming back to the blog as I explore the remaining secrets to selling at full price!
Copyright 2014, Mark Hunter “The Sales Hunter.” Sales Motivation Blog. Mark Hunter is the author of High-Profit Selling: Win the Sale Without Compromising on Price.