Want
to know the key to making tons of money?
Then learn how to sell value over price. The key to buying decisions is
gaining value during the presentation experience. Buyers want to be taught HOW
they can get more for less. If you simple hang the jewelry on a wall at a
home party or trade show and then step back and read a book…your customers will
have a retail experience. They will be impressed with the beauty of the jewelry
but would never appreciate the concept and the infinite value...and the result is lower sales, more frustration, and less success!
Highly
successful direct sales professionals understand that their company relies on
brand reputation and margin to maintain leadership and viability in the
industry. As designers, you build long-term, highly profitable relationships
when you sell value over price, because customers are more than willing to pay
a premium for someone or something that truly delivers extra value to them. That is why it
is so important for sales professionals to understand what the customer
truly values.
· Focus on helping the customer meet her needs
rather than simply trying to sell them whatever your flavor of the month is. In order to do that effectively, you have to
become highly skilled at asking your customer the right questions and listening
carefully to make sure you understand their answers.
The
challenge faced by most sales professionals is that customers cannot recognize
(presale) the value of your solution without your help. When the customer does
not clearly understand your value, they will focus on the one thing they do
understand, which always comes down to price.
Many
sales professionals are not very effective in this area. If they attempt to
discuss value with the customer at all, they tend to say things like:
This
product will help you look beautiful and have more jewelry to choose from
This
“feature” will do this, and that “feature” will do that
As
important as these points are to make, they don’t go far enough because they
don’t clearly spell out the ultimate value of what is being offered. Selling
value requires that salespeople have the ability to justify – in terms that the
customer cares about – how the customer will benefit from their solution.
Unless the sales professional can deliver this message and connect the dots
very clearly, they leave the customer no choice but to view their solution as
just another commodity where price becomes the only consideration.
Action
Items:
- Try writing two or three different “Feature-Advantages-Benefits” statements that will connect your products and services to the typical needs of the customers you work with. Make sure that you provide a very focused benefit component that specifically defines how the product will solve the problem or meet the specific need of a customer.
- Review your current questioning and listening strategy. Are you asking enough questions with every client to be able to offer a solution that will clearly address their needs?
When
asked to a group of saleswomen, “How many of you have had customers leave
because of price but come back because the level of service they received from
others was not what they got from you?" Eighty percent raised their hands.
So
I told the 80 percent who raised their hands to ask those clients why they left
for a better price and why they came back for better service. You can use this
feedback when confronted with price objections. Also, find out what else they
gained from spending a little more money with you--what are the long-term
effects of doing business with you, and how does that offset the initial
investment?
Compared
to most jewelry out there… price IS one of our advantages, that's great. But
remember, you need something that keeps the competition away and secures your
relationships for the future. I remember seeing this sign:
Price,
Service, Quality (Please pick two)
If
you choose to lower your price, something else will suffer. No matter how tough
the market gets, you'll have to stick to your principles to sell the value that
differentiates you from your competition.
Simply
put, if you want to sell value to your customer instead of being forced to
discount price to close deals, the most important thing to remember is not
to lead with product features and deals, because customers don’t by products
(jewelry). Instead, they buy solutions that will give them the outcomes
they need to make their fashion and attractiveness more appreciated. Therefore,
before you can present them with an attractive solution, you must be certain
that you understand the customer’s “hot buttons” so you can connect that
solution back to the customer’s most important goals and desired outcomes.
Mialisia designers more than anyone else….you or your customers should never think for a second that
our jewelry is priced too high as long as you are face to face with them to explain your product/concept. I personally believe our jewelry is priced too low for what we really offer customers! But
I understand the value of what our product and opportunity really is. Do you?
Then you better determine this before your next home party.
Just
know this, YOU have every reason in the world to have confidence that you have
absolutely no competition out there in this industry. Period! You simply offer
the very best quality jewelry at the lowest possible price….now that’s value!!
Good
Luck Team!
Dave
Nabrotzky
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