Your Sales Proposition – Shift the Conversation from Price to Value
Creating your sales proposition is a tough process. When you encounter pushy prospects who demand to know your price, what do you do? You need to redirect them, by asking them to talk about what they value. This allows you to uncover their buying criteria, whether it is
- Ease of use
- Quality customer service
Doing this allows you to regain control of the sales conversation and present your value proposition!
Salesperson Getting Stuck on Price
Recently, I worked with a salesperson who asked me:
“Paul, what do I do when I have a customer who is very direct and wants to get into the price discussion right away? I sell a premium product, and I like to be able to build a rapport with a customer before I discuss price. I have found that this takes the “sting” out of the sticker shock that inevitably occurs when I disclose our prices. Lately, I have encountered several prospective customers who were insistent that I disclose my price upfront. I tried to steer the conversation in another direction, but they kept coming back to- ‘What’s your price?’
How do I handle this type of prospect? I want to be respectful of their time and respond to what they’re asking for, yet I know from past experience once I give them my price, they quickly shut down the conversation or simply walk away.”
Regain Control of the Conversation
When you get hit upfront by a prospect who asks “What’s your price?” step back and assess what they’re really asking. Start by saying:
“We have many options to choose from. I want to recommend the one that is going to best meet your needs. In order to do that, I need to ask you a few questions. So tell me what exactly are you looking for to ensure you’re going to get the best value?”
What I have done with this question is shift the sales conversation from price to value. Now, the prospect will hopefully open up to me and share his/her buying criteria.
What’s Next? – Ways to Gain Appreciation for Your Products and Services
- If the prospect answers that she is looking for reliability, then you can bring out the data that shows how much more reliable your products are than your competitors.
- If the prospect says she is looking for increased production, you can shift your focus to the studies that have determined how productive your product line can be.
- If the prospect says she is concerned with customer service, you can take her through your company’s 8-point Customer Service Guarantee.
No matter what criteria the prospect mentions, you should be prepared to discuss the ways in which your products or services outshine the competition.
Once the conversation circles back around to price, your prospect will have a much deeper appreciation for your products or services.
I have a customer in mind I’m seeing tomorrow. I’ll put this question into action. I like the fact that it gives me an opportunity to control the conversation and get the customer out of the price gutter. thanks!
True. You got to get the prospect talking and that means asking questions. Otherwise, you’ll get pushed right into discussion on price and now you’re in the defensive mode, not offense.
If you sell on price, expect to lose on price.
[…] got a lot of great feedback on the last blog, Your Sales Proposition – Shift the Conversation from Price to Value! Many readers had encountered similar sales challenges and objections, customers pushing to get a […]
Next time someone asks you to lower your price, ask them what they’re going to do for you in return. For example, if they want you to come down by 10%, ask them to increase the size of the order. we’re talking a basic negotiating principle here: if they want something, they got to give something in return.