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How Many Ways Can You Justify Your Higher Price?

Scott Sorrell / CEO, Sales Adrenaline

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It's all about price. Low price. That's what every ad, every commercial, every pitchman focuses on. And they hit your customer between the eyes with it every day. So it's no wonder that your customers automatically react against your pricing as if it's the only thing to consider. Not respond, react. It's become a reflex.

If you told 10 people you were offering a new Ferrari for a hundred dollars, you'd get at least one knucklehead asking you to lower your price. It's not logical, it's simply a reaction.

But here's the question: What would you do when he asked? What would you say? What do you say? Because this price issue comes up every day in your sales business, does it not?

Try this: make a list of 10 reasons justifying exactly why what you're selling is actually worth more than what you're asking for it. Can't think of ten? Here are some starters:

What about your offering will make your customer's life better? What pain will they continue to experience if they don't buy your product or service RIGHT NOW? Which extras, incentives, bonuses and promotions will they lose by saying no today? What goodies will they gain by saying yes?

If they buy, how much will they save - how much will they make - what will change - why will they be happier - how will they be protected - how will they be better off - who will notice them - who will respond to them - what will improve for them? Ten values is a good start. Now expand your list from 10 to at least 20. Create as exhaustive a list as you can. Employ fellow reps and other business associates. Ask your vendor who sold you the item in the first place. Ask your satisfied customers to give you their reasons they bought from you (you'll be blown away at some of their answers - great answers you probably were missing from your list!).

Now carry your list with you and look at it every day. Commit it to memory. Make your answers reflexive. That way, when somebody reacts with, "Your price is too high," you can react, too - with value, value, value. And when you do, get ready to hear, "Pop! Pop! Pop!" as their flimsy, automatic price objection bubbles burst, followed by a loud "Ka-CHING!" - the sound of your cash register ringing.

You'll get the money, your customer will get your valuable product or service, and you'll both be happy. This is called win-win.

Scott Sorrell is a master sales trainer and success coach. He is known as "Mr. Charge Higher Prices," because he teaches how to boost the bottom line of every transaction and relationship, as he works nationwide with sales teams and corporate executives of everyone from Fortune 500s to start-ups. Scott's seminar series, How to Charge Higher Prices & Get Your Customers to Thank You for It,T is acclaimed by sales professionals in dozens of industries. He is also the creator of the audio program The Power of Persuasion: How to Master the Art of Influence.T Scott can be contacted at 949 650-0006, or by email: ceo@SalesAdrenaline.com.

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"The key to selling? Pinpoint the pain point."
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