The secret…
To sell price successfully, whatever that is, forget the price. Sounds paradoxical? Not really. Successful price selling begins with forgetting price and focusing instead on value for the Customer. Once that is firmly established, price takes care of itself. The Customer then perceives such immense value that price seems secondary to the decision. And magic happens
What drives a customer to buy?
Many would say price. It’s not that simple. Watch magicians Penn & Teller ‘sell’ phoney branded tap water to guests in an upmarket Californian restaurant served by a ‘water steward’ to understand that the pyschology of buying is even more complex than the psychology of selling!
If price was the only criteria for making a buying decision no premier brands would exist, we’d eat the same food, drive the same cars live in the same houses, wear the same clothes and holiday in the same locations. Penn & Teller’s experiment proves something significant; people are willing to buy a product if they perceive it fulfills their need or offers something special or unique. Customers always weigh perceived benefits against price. Managing this weigh-off is the job of a salesperson.
Developing the Value Proposition
To achieve this, the salesperson must create a compelling value proposition by thorough understanding of the requirements and how the offer can enable the customer. The urge to buy should consequently be so strong that price is secondary to the decision.
That creates a paradox. Successful price selling begins with forgetting price and zeroing in on value for the customer. To do this takes confidence, practice and the ability to go a little further out of your comfort zone than the competition.
Find out more
Find out more about creating compelling value proposition.
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