In Sales Price Is Not Usually the Issue

How often is the sales price spewed by eager or even desperate salespeople before knowing if:

The answer is probably far too often.

Yes price may be a significant factor in formalized bids or for those folks seeking the quick fix at the cheapest price.  However for the majority of SMB business owners and sales professionals, the sales price is the fourth “buy” from sales leads, not the first “buy.”

When salespeople jump into the sales price discussion before having established a solid relationships or even more importantly before providing a solution to the wants and needs of the sales prospect, they have already started to lose the sales opportunity. How does the potential ideal customer understand the connection between price and his or her desired results or what is important to him or her?

Foe example, I have a high arch.  Even though I like the looks of many flat sandals, I cannot wear them. The solution does not meet my need (arch support) even when the price is cheaper than the sandals with better arch support.

Sales coaching is another example. By sharing the return on investment (ROI) and emotionalizing that return on investment is probably one of the best ways to introduce price into the sales conversation. Now many sales coaches and salespeople will say determining ROI is difficult or even impossible.  That is a false belief.

ROI can be easily computed for many solutions through wasted time.  Most people agree they waste 12 minutes a day. Some time management studies suggest one hour per workday is the amount of wasted time. Just do the math and it is easy to determine the value of wasted time.

Yes the sales price is important, however price is not the first buying decision factor. To embrace that belief maybe why you or your sales team continue to fail to increase sales.

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