You know what? It’s actually easier to sell something that’s expensive rather than something that’s cheap.
Now too many people think they need to offer the lowest price or give big discounts to get deals but the opposite is actually true.
If you have something ‘expensive’, something that is high-end, high value and worth it, it’s way easier to sell that than to sell some cheap product or service that will leave the customer wondering if it’ll actually work. Sometimes, having a cheap price puts doubt in customers’ minds.
Now I’m not saying you should be selling cheap Daiso/ Dollar store finds for a huge mark up, because that’s just unethical. But for the people out there selling high-quality products, with a strong brand name behind it and have a sales process that allows them to demonstrate the value to the customer, that’s the winning formula.
When you have this combination, you’re not competing on price, your customer isn’t going to decide to go with your competition because they’re a dollar cheaper. They’re going to go with the product or service, that has a sales rep who can effectively communicate and demonstrate why their solution is the best. Because in the end, that’s all that the customer really cares about.
Think about it. If one option is a small percentage more than others but solves their problem better, that’s the choice the customer will go with.
The reason why is if they make the wrong decision and choose something slightly cheaper but it doesn’t meet their needs at all, they’ve just wasted their entire purchase investment. This is something we at SOCO train on.
Many of our customers are quality brands who aren’t interested in competing on price. Instead, they want to demonstrate the value they bring to the customer, then deliver and exceed on their promises.
Want to improve your sales skills? Join SOCO Academy.
- Tom Abbott is the author of 'The SOHO Solution' and 'Social Selling' and the creator of the online sales training platform SOCO Academy. Sales leaders engage Tom for his proven solutions to building high performance sales teams that exceed targets and for motivational keynotes that energise their audiences.