If the price enters the sales conversation too early, the result can be an unsatisfied customer, an unhappy salesperson, or no sale at all. Here are 5 mistakes that commonly lead to this. Discover how to avoid them and become a better salesperson.
Not Knowing the Customer
As salespeople, we sometimes rush our processes. We don’t prepare adequately. We’re unfamiliar with our potential clients, entering discussions ill-prepared. The client senses this disadvantage. Often, they’ll ask, “How much?” early in the conversation, making recovery difficult.
Lack of Sales Process
Many companies lack defined sales processes, allowing sellers to operate as ‘free spirits.’ However, elite salespeople adhere to clear processes. Initial meetings should ideally focus on understanding the client’s past actions, current activities, and future intentions. A structured approach diverts the conversation from product and price, establishing a sale with a strong foundation.
Wanting to Talk About Product
Without a guiding process, a whopping 98.6% of salespeople dive into product details during the first meeting. This shift implies to customers that the salesperson prioritizes the sale over understanding their needs. Instead of this product-centric approach, having a structured guide or trusting in a process can prevent such pitfalls.
The Client Goes to Price Straight Away
It’s a common scenario; the customer seeks immediate price information. To address this, salespeople must ask probing questions to better understand the client’s needs. For instance, during a recent Apple store visit, a salesperson redirected a price inquiry with questions about usage and objectives, leading to a more suitable product recommendation.
Not Knowing the Value Proposition of Their OWN Product
Surprisingly, many salespeople are unaware of their product’s true value. Effective selling requires a deep understanding of your product’s strengths and benefits. Familiarize yourself with its features, use it regularly, and recognize its potential to transform sales.
In Conclusion…
These are five straightforward solutions to prevent selling based on price: understand your customer, establish a process, avoid focusing solely on the product, ask insightful questions, and truly understand and appreciate your product. While understanding these concepts is simple, implementing them can be challenging due to ingrained habits. Nevertheless, consistent effort can lead to lasting change. At SchiffmanMorrisonAsia and SchiffmanVT, we’re dedicated to facilitating these positive shifts. Give these strategies a try, and share your experiences with us.