Thoughtful Thursdays – Addressing the question of value
A popular sales topic is the price objection, and I have posted several times on the subject. We talk about quantifying the value of products and services and communicating it to the prospect.
Today’s thought takes the process one step further. In many cases the prospect appreciates our work and understands the value, yet the sale does not close. We scratch our heads and wonder why the prospect does not buy even when they see the value
In my experience, many prospects fail to see past the cost. An approach worth considering is to have a conversation with the prospect about who actually bears the cost of your products/services. Ultimately it should be their customer. To be sure, your products/services has a price. Breaking your price into a per unit cost that is relevant to the prospect is another way to address this price objection.
For example, if you are offering retail consulting services, defining the your cost of your services on a per transaction basis may make sense. Over hundreds of transactions, your price can become negligible and more than paid for by the increased sales as a result of your services.
Getting the prospect to think beyond the price of the products/services you offer can often result in overcoming their initial price objection.
Good selling,
Richard
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