How Selling on Price, Devalues Your Offer

There are times when we ‘sell price’ without actually meaning to. We may ask a prospect what they’re paying their current supplier.

Or, when we find out that our prospect is doing business with someone else instead of us, we ask what they’re paying for that particular product or service. In these particular scenarios who do you think is making price the issue?

If you haven’t guessed, it’s you…

You don’t have to come right out and say that you want to compete on price or even that you’ll consider competing on price – to give your prospect or customer the idea that you will. You, can be the sole reason that your prospect or customer’s is focused on price. As a result it’s no good moaning if the next time you speak with them they steer the conversation toward getting a better price?

And?

The price you’d love your clients to be paying is irrelevant. Furthermore it makes no difference if you can’t beat your prospects suppliers existing price. The fact is if you lead ‘with’ price, you lead your customer ‘to’ price. As a result all you do is provide the most price-driven (transactional) buyers with the ammunition they need to go back and beat their existing supplier’s price down.

…So!

If you don’t want to compete on price (and trust me you don’t), then don’t lead with price. Don’t be price focussed when prospecting and especially not through the sales process.

My advice is…

Compete on value. Think value, talk value, show value and by default you’ll lead with value. You should always get your prospect to buy into the terrific value they’re getting first and your price a distant second, sales will then become much easier.

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