I don’t care how someone tries to argue it, a selling strategy based on being the cheapest simply does not work.
Sure, you might make a quick sale, but in so doing, you will destroy your long-term business prospects.
Below are 7 reasons why a low-price strategy will not work.
If you’re still skeptical, let me know and I’ll share with you another 27 reasons why the strategy doesn’t work.
1. Customers who buy based on a low price will leave you as soon as someone else offers an even lower price.
2. Customers who buy on low price will never appreciate the value of what you’re offering. Instead, they will focus on price and price only.
3. Selling on low price will never provide you with the profit necessary to reinvest into your business.
4. Once you start selling based on low price, you will become addicted to selling on low price. You will quickly lose your selling skills of focusing on customer benefits and outcomes.
5. Customers who buy on low price will nag you for everything. They will never be satisfied and will soon swamp you with issues and demands.
6. Customers who buy on low price will be quick to tell others the “deal” they got, meaning everyone else will quickly start demanding an even better deal.
7. Selling on low price doesn’t require a salesperson. If it’s all about price, everything else is irrelevant, including YOU!
For more information on finding the right prospects who are willing to pay full price, as well as better sales negotiation skills, check out Breakthrough Sales University.
You won’t regret investing in yourself for greater success!
Copyright 2015, Mark Hunter “The Sales Hunter.” Sales Motivation Blog. Mark Hunter is the author of High-Profit Selling: Win the Sale Without Compromising on Price.