Wednesday, November 1, 2017

What percent of customers change vendors for a  lower price?

a. 15% b. 37% c. 53% d. 78%

Don’t make the mistake that many sales people make. This huge mistake is exaggerating. When you are selling an idea or trying to convince someone of something, you more than likely over exaggerate your claims.

To get your idea across you may feel you have to use such overworked phrases such as:

"We are number one..."
"We are the best in the business..."
"You can save big money with us..."

As soon as one of these statements is made a red flag goes up in the customers mind. In your opening statement you have just "unsold" yourself. The buyer, customer or person you are trying to convince knows immediately that you are stretching the truth. The buyer (I refer to anyone you are trying to get to buy into your idea, product or service as a “buyer”) has three questions:

1. "So what?"
2. "What's in it for me?"
3. "Can you prove it?"

Instead of using the above overworked phrases you should use facts, figures, and examples in your presentation to justify your statements. These facts make the buyer willing to accept you and your offer. Your goal is to weave the facts into the conversation that makes the buyer understand the LEGITIMACY of what you are saying.

Like a shrewd attorney, you want to present your facts in the strongest possible light. For example:

"Our program will increase your profits by 6% -here is how."

Or "This product line will cut your labor cost by 3% -I have the facts right here to prove what I am saying."

Or "This new marketing system will increase your sales by at least 5% -let me show you what I mean"

An idea is sold not necessarily when you go into your close, but when the buyer agrees with your statements -and that is what you are looking for -buyer commitment.

The answer is 15%. So if price is your only strategy... you are missing out on the fun of really selling. When you learn the skills it takes to be a real pro, you welcome someone who says "your prices are too high!"

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