Perception Is Truth!
What seems outrageously expensive to one person may be uniquely inexpensive to another. I know people that wouldn't consider spending less than five thousand dollars for a home stereo system. I know other people that wouldn't think of spending any more than one thousand dollars for a home stereo system. Some people buy only brand name products, while others will buy only generic.
The point is, each and every one of us has a different perception on what value is, or should I say, what is valuable to the individual person. What is valuable to me may not be the least bit valuable to you. We all have a product or a piece of merchandise you wouldn't take home, even if it was free. On the other hand, you probably also have merchandise that you feel is greatly under priced and could be sold at a higher price.
In selling your products and services you must be aware that EVERYTHING IS TOO EXPENSIVE - UNTIL VALUE HAS BEEN ESTABLISHED. To lead your sales presentation with price is a huge error. Yet, time and again I see salespeople taking merchandise out of the case, off the rack, from the display, or even in the brochure and immediately looking at the price and telling the customer "This is $$$$$$." The first impression the customer has is of the price not the value. Two completely different issues, the price and the value.
Focusing on value is actually one of the secrets to making more sales. Not the value you hold for the product or service, but the value the customer has for your product or service. Asking the right questions to determine the customer's perceived value will allow you to base your demonstration on what is important to the customer. After all, it is the customer's money we are trying to get. Sell based on the reasons the customer wants to buy, not on the reasons you want to sell.
FINAO -
Brad Huisken is President, IAS Training and has been in sales since 1971. Since that time he has been directly involved in all aspects of Sales and Sales Management. His experience and knowledge have enabled him to author the book I'm a Salesman! Not a Ph.D. In addition he has developed several sales and sales management seminars for his company, IAS Training, and authors a weekly newsletter, "Sales Insight."
