If we follow the prevailing thought that everything that there is can be found cheaper somewhere else in the world, then why would anyone need you to sell them a product or service?
One answer is something that I always preach during The Action Suite when we discuss the price objection in that it is never about the price.
Benjamin Franklin said: “By failing to prepare, you are preparing to fail.” The unfortunate part about this quote is how today, people are not succeeding because they just do not take the time to prepare for success. Preparing for success really does not take as long as one thinks it does.
Last week, I was in a meeting with a potential new client; who has since become a new client, and the owner stated: “Why do you ask so many questions, Joe?” Well, the answer to that question is quite simple; I replied: “To better understand your challenges and to discover if we are actually a fit.”
The challenge is that questions have to be very strategic and thought provoking to get the prospect to provide pertinent information. You must always have an array of questions at your disposal; which is why when we work together, we will work on developing your 20 Power Questions.
Are your clients talking about you when you leave, or, are they talking to your competitors, ordering from them and talking about you? What is setting you apart from those competitors? Are you being different and unique enough to convince your prospect that they should be dealing with you? In other words, what are you bringing to the table that sets you apart from everyone else?
There has been a lot said recently about ‘elevator’ speeches and their effectiveness. There is no doubt that if you are in business; be it selling a product or service to a prospect and are therefore prospecting, you need some sort of ‘elevator’ speech. The majority of people, however, fail to realize that before you give an ‘elevator’ speech, you must first get in the ‘elevator.’
Every salesperson that I know, at some time or other, will have to deal with the pricing issue with a prospect. It is how you handle this particular issue that separates the professional from the nonprofessional. There is no doubt that consumers; be it for a service or hard goods, are always looking for the ‘deal.’