Good Morning Business Owners,
We received a number of calls yesterday asking for STEEP discounts. Some a bit too steep. Just a reminder, if we spend a little more time creating value, we will get higher ticket sales. “They” say there are 2 ways to make a sale,
1 1) Highest price we can possibly get – maximizing commission, or
2 2) Lowest price we can possibly get – maximizing customers.
Admittedly, both ways work, but I have found a nice mixture of both yields more buy signals. Also, when we save our last M.A.C. (mgr assist call) – this is the biggest deal in the whole process. This is where we decide the value and really sell our customers on the price. Remember, 25 off the 6 pays 5% (hard surface)
When we sell price we rent the business. When we sell value we own it.
Most poorly trained salespeople tend to lower the price when they receive price resistance. Any price, no matter how low, will always seem high to a customer if their perceived value is low. The key to effectively handling price resistance is to understand this simple, yet profound, concept. Customers say they want low price, but what they really want is low cost. What is the difference?
Price is what customers pay for our product or service now. Cost is what the customer pays by buying late, not at all or wrong. It is their overall cost over an extended period of time. In most cases we get what we pay for. Buy cheap and we get less value or higher cost over time. Buy expensive and we get higher value or lower cost over time. This is not always true but tends to be true most of the time. Let’s sell more value and don't defend price. In the long run, it is much easier to justify higher price if the value is there, than poorer quality and constant product/service problems.
“There are no price objections; only value questions.” ~ Art Sobczak
Floors By Tomorrow
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