Customers Aren’t Looking to Buy the Lowest Price Item

 

Do you believe that statement in the headline?

Or, are you saying that statement simply isn’t true and customers do always look for the lowest price?

Let me put an idea out on the table.

Customers aren’t looking to buy the lowest price; it’s just that they do because the salesperson makes it so easy for them by not offering a compelling reason otherwise.

If we in sales have not shown the customer a compelling reason as to why they should buy on  anything other than price, then who is to blame them being motivated by price alone?

I sure can’t fault the customer, because the fault lies with me — the salesperson.

Customers will pay any price other than the lowest price if there is a reason for them to do so.

Why? Because the value they’re going to receive is better with your higher price offer than it is with someone else who may claim to be selling something similar at a lower price.

Key is in understanding price is not price.  What?!  Price is not price?

Price is not the money paid. Price is the difference between the money spent and the value gained.

When you look at it this way, you’re able to see if you present the customer with enough value, then the price becomes secondary.

Customers don’t want to pay the lowest price. They want to pay for a reason — to achieve a specific benefit or outcome.

Key is to understand what the customer wants and allow the customer to realize the value they will experience when you present a solution that takes care of what they want.

Don’t run from price.

Rather, see it merely as a gauge to help you determine how much value you’ve been able to create in the mind of the customer.

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.

Click on the below book cover for more info on boosting your profits!

High-Profit Selling

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