How To Stop Selling Based On Price
If your prospect is shopping for price, they most likely don't fully understand what they are shopping for. They need to know that, without the free consumer education on the subject you provide, it's a roll of the dice whether they get a great deal or a great deal of misery. In your store, it will likely be face to face. On your website, this is what your free report or consumer awareness guide accomplishes.
Why do people shop based on price?
I'm not talking about the hardcore cheapskates who will buy based on nothing but price. These are often the people with the most complaints and no concept of value or civility. Need I say more about why you don't want to attract them as customers? Thankfully, they only represent the lower 10% of the buying population. The upper 10% who understand and recognize value are actually suspicious of low price because it inevitably heralds low quality. That means 80% of buyers are willing to pay a higher price when they understand the value they're getting. The problem is they don't know any other way to accurately compare your product/service from any of your competitors. This is where you can step in and honestly establish yourself as the trusted advisor, the credible authority, and the only person they should be doing business with.
That is of course as opposed to being just another person thumping their chest about how good they, and the product/service they sell are. In other words, just another pushy salesman trying to sell them something. Who would you rather be seen as?
This is not your time to make a sales pitch. In fact if you do this right, you won't need a pitch. You'll simply close the sale. Furthermore, you'll remove the price objection entirely because the prospect will understand the value of what you offer.
How do you do close without a pitch?
How do you do close without a pitch?You set the buying criteria for them. You give them very real and critical measurements to make a qualified decision with. Put simply, you’re telling them what to look for in this product/service that you as a well-versed professional would look for.
The measurements you gave them are based on your strengths. They are in fact what sets you apart from the competition. It could be personalized service. It could be something that cuts the time to completion or gives the customer some other real and quantifiable benefit.
Think of questions that you would ask as someone with insider knowledge. It's not unfair to give them questions that would make your competitors squirm but that you have solid answers to. In fact, that’s the point! In the event this prospect leaves to perform their due diligence, you want them to return.
Be prepared to let them go.
You are basically gearing them up for a mission if they choose to accept it.
Make it so they can take this information and go off and apply it to your competitors.
I will guaranty they're not going to get off of the phone with you or leave your store before they see how you measure up. Of course you, your business, and your product/service hit all the marks. And that means you better know those answers!
I can't guaranty every prospect will buy right on the spot. Some people just have to learn the hard way. Make sure it is clear that you are there for them when they find others lacking.
People who buy based on price have always bought something they were disappointed with and often ended up buying the quality option AS WELL. You should specifically relay that concept to them when you begin. That will strengthen your case by planting the seed early in the conversation and reduce the chances of them leaving to risk wasting time shopping or money buying from an inferior competitor.
You've positioned yourself as the trusted adviser, on their side. You're not “just another pushy salesman. You've given them the power to make their own informed decision without trying to corral them from leaving. That's building Know, Like, and Trust. That's building a solid foundation for a strong business relationship.
Are you ready to stop competing on price?
Rob Calhoun
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