“All they care about is price. Especially if it’s an on-lne RFP or a third-party.” If I had a dollar every time a salesperson said that, and believed it, I’d never again feel guilty about buying my daily Starbucks.
Yes, there are a few people who buy on price alone. They want the cheapest and they don’t care or don’t realize that they may not be getting the best deal. Here’s what I say to that: If your service or product isn’t the cheapest, then those people aren’t your prospects. Move on.
Most people just use price as an excuse (or a negotiating tool) when we don’t help them to feel confident and competent choosing us.
When your price isn’t the lowest,
Sell safe and smart. (Notice I didn’t say “value!” Of course, you are selling value. It’s just so much easier to sell if you think about helping them feel safe and smart about their choice than how you can prove value or worth to them.)
Help your prospect feel authentically and totally comfortable about making their purchasing decision.
All of us are fearful we’ll mess up; that we’ll discover that we could have done “better” just after we commit to a purchase. That old Mastercard ad got it right, though. There are things that are “priceless” and feeling good about the decision – feeling smart and secure – about the choice is one of them. It’s up to you, the sales person, to help the other person feel that way by conveying the lack of risk involved in the purchase.
Think about yourself for a moment, instead of your prospect. You know someone with an impeccable reputation for doing chemical peel facials, or you can use a Groupon coupon for half the price (and get double the number of facials, except that when you google the esthetician you learn that she just graduated from school, um, last week). Which would you select? Some of you may jump to the Groupon thinking price alone. But then, realizing it’s your face and chemicals are involved, you’d start emotionally rationalizing your price decision. I’m betting you’d persuade yourself your price decision is good by saying something like, “I bet she learned the latest techniques because she just got out of school,” or “Someone had to give me a chance when I started too.” So even with the great price, other factors came into play. (Those who picked the impeccable reputation will also emotionally rationalize by the way – that they’re safe and smart with their decision and they’d rather have one excellent peel than two that might leave them scarred.)
So back to your prospects… it’s up to you to connect the emotional dots for them. Help them experience a “priceless” experience by helping them feel safe and smart. Remind them of the genuine benefits – the lack of risk – when they choose you.
Ask yourself: What happens if my prospect makes a bad choice? If your prospect is a meeting planner, maybe they have unhappy, stressed, unproductive attendees. If it’s an association planner, maybe they have a poorly attended meeting. If your prospect is a procurement officer, maybe they have people wasting time and spending more money. If your prospect is a third party, maybe they have customers who leave them and talk poorly about them and they go out of business.
Whatever the risk is to your prospect, help them grasp how your product or service allays that risk. In addition to the simple and proven to work money back guarantee, choose and use words that convey a sense of safety. Speak your truth and connect the dots. Here are some ideas for the previous situations:
Your meeting goals will be supported by the environment and professionalism of our experienced team.
You can count on your members being excited to meet here.
Your travelers will be grateful for such a convenient location and they’ll start each day, refreshed and ready to productive. You can count on no hidden costs like late night taxis because a shuttle isn’t running, or more expensive meals because the hotel’s restaurant closed early.
You can feel confident knowing your customers will be delighted and will loyally return to you.