Is My Price Too High? You May Just Have Bad Customers.
The customer rejects your price. They tell you it's too high.
You're nervous you're going to lose another sale and you wonder what to do. Problem is you may very well come up with the wrong solution.
Your best solution is not to cut your price. Your best solution is to find better prospects.
The problem too many salespeople have is they wait far too long to determine if they have the wrong type of customer. The reason they wait too long is because they think any and every customer is a good customer.
Sorry, that just isn't the case!
One of the best ways for me to demonstrate this is by using the example of Walmart and Nordstrom. A customer that would feel happy shopping at a Walmart is not going to be buying anything if they were in a Nordstrom store. Their reaction would be the prices are simply too high and not worth it.
This is exactly what occurs too frequently with salespeople. They are selling Nordstrom to a Walmart customer. No wonder they panic and think the only solution is to lower their prices.
The price you get is going to be a direct reflection on your selling process and who you see as your prospect. This is a key reason why I say the two must be linked together.
When I hear somebody say they're great at prospecting but they just can't close, I'm not going to say they need to work on their closing techniques. No, they need to work on their prospecting technique.
If you have a prospecting process that is lined up with your selling process, then you're not going to have a problem closing sales.
This is a key reason why I want to encourage you to check out Breakthrough Sales University. In it, I share specific prospecting techniques that will help you find and close the right prospects at full price.