Sales Training Tip #232: “Forget Competing on Price”

Nobody can sustain a low price image forever.  Competing on price will only provide a short-term volume bump at the risk of destroying the value of your long-term potential.

I’ve talked about low prices for a long-time.  Relying on low pricing to make a sale often causes the customer to not accept anything but the lowest price from you.   They tend to see you only as a low-price provider.  When this happens, you lose your opportunity to convey confidence.  Remember, features are sold at cost; benefits are sold at a profit.  

Think for a moment about Wal-Mart.  If I need something and I know exactly what it is, I’ll go to Wal-Mart because I don’t need any questions answered or any confidence in what I’m buying.  They will have a low price and that’s all I’m looking for.  On the flip-side, if I have a pain, I’ll visit my doctor.  He will supply the confidence I need to help solve my problem, and, regardless of the price, that’s what I’m looking for.

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