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Guest Column
Prove You're Worth Every Penny
By Linda Bishop
Greg perched on the edge of his chair, holding his breath. If he made this
sale, he'd be sitting pretty for the rest of the quarter.
His client, Brenda, shuffled through a stack of manila file folders. She
pulled out one with Greg's name on it and opened it. Greg's proposal was
inside. Brenda picked it up and said, "I read this and you met all our
specifications"
The corners of Greg's lips began to curl up in a smile.
"But, we got another quote. The other price is twelve dollars and thirty-two
cents cheaper, and I decided to go with that," she said.
Greg's jaw dropped so far, his chin practically rested on his chest. "I
can't believe you chose someone else for such a piddly little amount," he
sputtered. "Not after we've been doing business together for years."
Brenda shrugged. "Honestly Greg, you're just not worth the extra money."
Greg's eyes flew open. His sheets were damp with sweat. What a horrible
dream, he thought.
Struck by another thought, he sat up. What if he did lose Brenda's business
over a small chunk of change? What if his nightmare really did come true?
Every salesperson loses sales. When you lose because of a small difference
in price, it's frustrating. Why doesn't the customer see you're worth every
penny?
Day in, day out, you must prove value. Use these seven tips to help you get
the job done and sell more.
Tip One: Talk about benefits.
Products have benefits, features, and advantages. Benefits sell. Features
explain how benefits are created. Advantages explain why you get the job
done better than the competition.
Imagine selling customized luggage. Customers who choose your luggage can
easily spot their suitcase at airport baggage claims. That's the benefit.
This luggage comes in ten fluorescent colors, and is customized with a
customer monogram. That's the feature. No other luggage manufacturer has a
product like this. That's competitive advantage.
Benefits answer the question, "What's in it for me?" When customers balk at
price, recap benefits.
Two: Communicate clearly so value is understood.
Be specific. Avoid run-on sentences. Run-on sentences string thoughts
together. Here's an example of a run-on sentence. Read it aloud.
Our luggage is easy to spot it at the airport because you choose your own
color and we put your monogram on it and no one else does that.
Now try this.
Our luggage is easy to spot it at the airport. You choose your own color. We
put your monogram on it. No one else does that.
When you keep sentences short and focused on only one point, customers find
it easier to follow your train of thought. Customers who grasp the point
you're making are more likely to buy.
Three: Clarify to discover which benefits the customer views as important.
Many products offer benefits that the customer doesn't need or want. Find
out what the customer thinks is important by asking questions to learn:
· Which benefits are absolutely required?
· Which ones are desired, but not required?
· Which ones would be nice to have?
· Which ones are unimportant?
Focus on benefits that matter to the customer in order to create the
perception of value.
Four: Increase your likability factor.
We all want to buy from people we like, so look for ways to be more likable.
Make eye contact. Smile when appropriate. Respect the customer's views.
Relax and enjoy the time you spend with them. By increasing your likability
factor, you add value to the sales process. Often the added value is enough
to overcome small price differences.
Five: Eliminate one bad listening habit.
More often than we think, we tune customers out when they're speaking
because we think we know what they intend to say. Instead of giving an
incoming message full attention, our minds get busy and formulate a
response. Sometimes, we cut customers off in the middle of a sentence
because we can't wait until they finish before jumping in to make our point.
Planning replies before customers finish speaking is a bad listening habit.
By breaking the habit, you'll learn more in every sales conversation and
find new ways to demonstrate value.
Six: Offer proof.
You explained the benefits, described the features and explained why you're
superior to the competition. Now, take the next important step and offer the
customer proof. Proof comes in many forms including testimonials, white
papers, case studies and references. It eliminates risk for buyers and
shores up claims. You know you're telling the truth. Offer proof, and
customers will know it, too.
Seven: Learn to do a better job of closing.
Closing conversations provide insight on customer definitions of value.
Closing helps you understand why customers hesitate to buy. Sometimes, price
causes hesitation. When that's the case, ask questions to determine what
value the customer seeks. Look for ways to tip the scale in your favor and
make the sale.
Customers buy value. Benefits create value for your customers. Offer proof
that benefits are real. Find ways to be more likable and listen better. Use
closing to determine if the customer believes your product is worth their
price. When closing, recap your benefits one more time to remind customers
of their value.
No one pays more for any product than they believe it is worth. Understand
how value is created and use your knowledge to sell more.
About the Author:
Linda Bishop is author of "Selling in Tough Times" and President of Thought
Transformation. Offering training in all industries, Thought Transformation
focuses on the tools and marketing tactics for individuals and enterprises
looking for strategic resources to increase their sales. She had a
twenty-year career in the printing industry culminating in a promotion to
Vice President of Marketing. Linda Bishop can be reached at 770-846-3510 or
lindabishop@thoughttransformation.com
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