Getting your head straight
A.If you think you are too expensive, you probably will be!
B.Believe in your own pricing — not the customer’s propaganda
C.In the absence of perceiving value, customers will default to making price the issue
The facts of life….
- You will always lose some orders because you could not bridge the price – versus – value gap
- Don’t expect to be the cheapest very often (do you want to be?)
- Understand that handling price pressure will always be part of your job
- People do not “buy on price” — they consider a price/value relationship
Love thy competitor and sell the difference!
Practical guidelines for price handling
When to present price
After the customer perceives the benefits of our solution
Handling the early price challenge
Initially, try politely ignoring it
‘Stall’ where necessary until you are ready to discuss it:
–“I’m coming to that”
–“I can’t tell you until I know exactly what you want.”
–“Is price your only consideration?”
Love thy competitor
- Listen carefully
- Ask who or what you are being compared with
- Establish the extent of the difference
- Re-express the difference
- Emphasise your added-value
Sell the difference!
- We know the competition and their strengths and weaknesses
- We have analysed our competitive sales propositions and defined customer needs and wants for them
We therefore have extra benefits
- What is selling?
- The 8 criteria for an effective sales visit
- What people buy
- The needs & wants ‘iceberg’ model
- How to improve your questioning and listening
- Funnel technique (developing customer needs and wants)
- Creating a strong first impression
- How to present your solution
- How to handle objections
- Handling price pressure
- How to gain customer commitment