36 Things Buyers Value More Than Low Price

February 25th, 2015

Things Buyers Value More Than Low PriceToo many people in both sales and marketing get hung up on price because they believe that price is foremost in the mind of the buyer. Yet, study after study has found that price typically ranks dead last among the reasons people buy what they buy. (And where they buy it.)

What do buyers value more than a low price? Things like:

1. Accuracy
2. Beauty
3. Being treated well
4. Cleanliness
5. Color choices
6. Comfort
7. Consistency
8. Convenience
9. Customization
10. Design
11. Durability
12. Ease of use
13. Efficiency
14. Energy savings
15. Environmental friendliness
16. Fast delivery
17. Freshness
18. Fun
19. Generous return policy
20. Healthiness
21. Less maintenance
22. Lower operating costs
23. Newness
24. Novelty
25. Painlessness
26. Power
27. Quality
28. Reliability
29. Risk reduction
30. Safety
31. Social impact
32. Speed
33. Style
34. Taste
35. Trustworthiness
36. Warranty/guarantee

So rather than focus on price, look at this list and determine which items apply to your company, product or service. Then build your marketing campaigns and sales presentations around those. Refer to those items when comparing your offerings to your competitors. Use them to overcome price objections.

When you emphasize the qualities that deliver real value to your customers, you’ll be able to close more sales. And you’ll be able to do it without discounting or price matching. Because the above items are what your buyers truly want.

What else do you value more than low price? Share your thoughts in the comments below!

© Nito100 | Dreamstime.comLow Cost Photo

Seven Toxic Sales Thoughts

February 18th, 2015

Toxic Sales ThoughtsOur thoughts determine our actions and our actions determine our results. If your results are not what you’d like them to be, odds are the root cause is one or more negative thoughts you’re harboring despite the fact they’re holding you back.

In my work training and coaching salespeople, professionals and business owners, I’ve noticed several common thoughts shared by a tremendous number of them. Are any of these thoughts poisoning your sales?

1. “Buyers are liars.”
If you believe that all prospects lie all the time, you’re setting yourself up for failure. Because subconsciously you’ll treat them like the liars you believe they are, building distrust instead of trust. Assume instead that buyers are honest and you’ll build rapport and trust faster.

2. “I shouldn’t have to prospect.”
A lot of salespeople expect their company to provide them with all the leads they’ll ever need. (And great leads at that.) In a perfect world, prospects would call us all day long, ready to buy. But really, if that were the case, there would be no need for salespeople! If you want more sales, you need to do more prospecting. Embrace that fact, get better at it and make it more fun. (Hint: One study found that 70.1% of buyers would switch vendors if the new vendor was more fun to do business with.)

3. “Our product/service is too expensive.”
Nearly every prospect asks for discounts, leading most salespeople to believe that what they sell is too expensive. The reality is, most salespeople don’t appreciate the value their product or service delivers to the customer, so they discount reflexively. Take pride in what you sell, appreciate its true value, and recognize that your prospect’s budget is not the same as your budget.

4. “The competition is better than we are.”
Every product and service on the market has its own strengths and weaknesses. The trouble is, we tend to undervalue our strengths and overvalue our weaknesses. Study your competitors and determine what their weaknesses are. And do an inventory of your strengths.

5. “I don’t want to pressure anyone.”
A common fear shared by many people in sales is the fear of being perceived as a stereotypical “salesperson”: slimy, underhanded, manipulative, deceitful, obnoxious. That fear causes them to avoid asking for the sale because they don’t want to come across as pushy, overbearing or high-pressure. Which results in them losing a lot of sales. But there’s a huge difference between pressuring someone and simply asking them if they’re ready to buy. The former pushes them away, while the latter helps them overcome their inertia and make the decision they already want to make.

6. “They aren’t really buyers.”
A lot of salespeople believe they’re really good at sizing up prospects based on their appearance, reputation or title. But when you judge someone not to be a buyer, guess what? They don’t buy! (At least not from you.) Assume every prospect is a genuine buyer.

7. “Sales training is a waste of my time.”
I’m always amazed when there’s somebody in one of my seminars who clearly thinks they know it all already. I’m not saying there isn’t some bad sales training out there—I’ve sat through some of it myself—but it’s a rare seminar, book or video that you can’t learn something from. And that one thing could mean all the difference for your sales.

Be honest: How many of these thoughts have ever run through your head? If you’re like most people—and most people are—at least one. And probably more.

That’s okay. It’s normal. And becoming aware of those thoughts is the first step to correcting them. And when you change your thinking, you’ll change your sales.

photo credit: Toxic drink via photopin (license)

How to Approach Prospects

February 2nd, 2015

How to Approach Sales ProspectsYou’ve got a list of high-quality sales prospects. Great! Now what? How do you make the initial contact? What exactly do you say? How do you get them to call you back?

Listen to my appearance on Breakthrough Radio with Michele Price. In this ten-minute segment, I share the secrets of making an effective approach. You’ll discover what to say and—equally important—what not to say. Use these techniques when you contact prospects and they’ll actually want to talk with you!

To listen, just click on the link below. Or to download the segment to listen later, right-click the link and select “Save Target As…”

How to Approach Prospects: Don Cooper on Breakthrough Radio (mp3)

To learn more about Michele Price and listen to her interview other business experts on Breakthrough Radio (which I heartily recommend), check out WhoIsMichelePrice.com.