The business owner must educate the customer on value, thereby negating the importance of price.
Educate On Value, Not Price:
Remember that people want a good deal, not the cheapest. They will be happier spending the dollars to get something that does exactly what they want, rather than spending less on a product that only does half the job.
Explain why some people charge less, and what the prospect will miss out on if they do it on the cheap.
Here are some useful hints and tips that can help:
- Emphasize VALUE.
- Explain why your product is more expensive.
- Compare yourself to others on quality and service and all of a sudden price becomes almost irrelevant.
Increase your product knowledge:
It's important to know as much about your product as you can - the more confident you sound when talking about it, the more likely your prospects are to regard you as the expert.
People like to buy off people who seem to know what they're talking about. It gives them a sense of security.
Here are some useful hints and tips that can help increase your product knowledge:
- Always know more than a customer would about your product.
- Study what the competition are doing - a customer may well ask.
- Ensure that all your team are as well educated about your product(s) as you are.