Recently on a phone call with a group of salespeople, I was asked if there were any secrets to selling at full price.
It was a great question and I shared with the group 5 things they need to do.
Check out the list I gave them:
SECRET 1: Find better customers.
Selling to the wrong group is always going to create pricing pressure. Just because a customer shows interest doesn’t make them a good customer.
I realize that goes in the face of conventional thinking, but I’m serious when I say this.
SECRET 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.
SECRET 3: Position yourself and your selling process to command full price.
Just as you have to make sure your product/service is positioned to warrant full price, you have to make sure you are too. You are what the customer is buying, and for that matter, the customer is buying you long before they buy what you’re selling.
SECRET 4: Be prepared to walk away.
If you are afraid to walk away, then how will you ever face the music and not cave on price? The only way you can be certain you won’t cave on price is by being willing to walk away.
SECRET 5: Don’t offer discounts. Period.
In the end this is a pretty simple thing, yet so many salespeople still resort to offering a discount. This is the reason I tell many sales managers they should take all pricing authority away from their salespeople.
When you look at the above “secrets,” which did you already know?
In the coming days, I’ll be expanding on each one of these 5 secrets to selling at full price and how to avoid discounting.
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.
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2 Responses
Fantastic article, Mark. I love that you included #3, not being afraid to walk away. Most sellers tend to do just about everything out of fear. This step takes guts!
Thank you, Mark, I really appreciate and value this post. Many Small Businesses and start ups really have a problem with this “pricing” and “discounting” issue. So many set their prices too low and then offer discounts * both actions jeopardize their sustainability and many go out of business even though their product/service is a “winner” and should succeed!_!