Becoming Preferred — How to Outsell Your Competition (hardcover and other featured products) — MichaelVickers.com

By: Summit Learning Systems  09-12-2011

Getting past the “price issue”!

When it comes to a product or service’s cost, the customer has a common measuring device and you’ve got to deal with it. Here’s how:

Delay the discussion of price until well after you have demonstrated the features and benefits that make your product or service distinctive in the marketplace. As you discuss each feature, make sure the associated benefit is clearly understood by the buyer. Don’t spend your time discussing what the product or service is, spend time on what the product or services do and the problems they solve.

Long before the question of price rears it’s ugly head, get your prospect or customer to want your product or service. The more they want it, the easier your job becomes.

Once your prospect or customer wants your product or service, the cost will become a minor consideration, even though they might continue to complain about your price being too high and the fact that they can buy your competitor’s product or service for less.

Remember this: People will pay whatever they have to pay in order to get what they want, provided that they can be convinced that they cannot get it for less. Your job will be to demonstrate your value-adds and your points of differentiation that will separate you from the competition.

The desire to acquire something makes its cost a secondary consideration, limited only by the buyer’s ability to pay for it. That ability to pay, assuming the desire is strong enough, is in turn limited only by the maximum amount that they can get their hands on.

So don’t focus on price, even though every transaction boils down to it. Discover what your prospect or customer wants that your product or service can provide, and just keep reminding them that your product or service will satisfy their needs.


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