The last thing any salesperson needs to be concerned about is their price when they find themselves talking to a new prospect.
I have watched far too many salespeople mentally take themselves out of the running with a prospect, all because they’re fixated on thinking their price is going to be too high.
Your new prospect doesn’t care about your price, and if they do, then you don’t want them anyway. If you encounter a brand new prospect and the first question they ask you is your price, then quit kidding yourself — they’re not a prospect, they’re an economic shopper!
Your sales pipeline needs to be built around those to whom you can show value.
You can’t demonstrate real value to a prospect until there is an element of trust that has been established that allows the customer to accept and appreciate what you’re sharing with them.
The higher the level of trust, the higher the quality of dialogue — which in turn will result in the prospect valuing the reasons for wanting to do business even more.
Recently I was conducting a sales program, and as I shared this idea with the audience, you could see the sense of relief come across their faces.
Focus on developing trust, uncovering needs and creating the value proposition. Only after that do you need to even be thinking about price.
At the core of this idea is my strong belief that customers don’t buy anything. They only invest. Think about what that means. Customers will invest when they see they will achieve a return on their investment that will be in excess of the amount of money they are being asked to spend.
If the prospect doesn’t fully understand what they will be receiving (i.e., the value proposition), then they most likely will feel your price is too high.
You absolutely need to remember these four steps:
- Develop trust
- Uncover needs / goals / outcomes
- Discuss the value proposition
- Present the investment
Think in those terms, and you’ll find yourself approaching the prospecting process in a much better way. Ultimately, you will achieve more sales at a higher profit.
For more great prospecting insights you can use to boost your bottom line, check out Breakthrough Sales University today!
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.