Thursday, January 7, 2010

But It Was So Cheap!

"The sweet taste of a low price quickly fades as you realize what you bought did not meet your needs." This was a saying that countless successful businesses have drilled into their sales organizations. What most people may not realize is that there is a sale made every time. Either the salesperson sells the client the product or service, or the client sells the salesperson their objection.

When was the last time you were glad that your purchased the lowest quality tool, television, or dental service? I firmly believe that quality pays, it does not cost. Here are a few tips for increasing your effectiveness in dealing with a price objection:

1. Demo, demo, demo. Get your product in the client's hands, help them visualize what their business would be like if they did not have to deal with the headaches that your product or service will remedy.

2. Listen. God gave you two ears and one mouth. Unfortunately, many salespeople have a chronic case of diarrhea of the mouth. They won't shut up! Listen to what your prospect is telling you, then help them find the solution.

3. Deal with the price objection up front. There will always be someone who offers a similar product or service for less money than you. Always. Sell benefits and quality. This is also a fantastic place for you to show your prospect client testimonials.

4. Ask for the business. I don't know why many people are afraid to ask for the business. After all, the customer can't shoot you and eat you; they can just say "No." That positions you in the exact same place as you were when you walked in their door.

Beware of people who only sell based upon price. The cost associated with going with the least expensive option is usually far more expensive than the investment of a quality product!

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