When trying to close a deal, many sales representatives find themselves up against a huge obstacle…
Millions of sales fail every day because according to the customer, “it’s too expensive.”
The seller tries to rationalize the lost sale, saying that the customer “doesn’t have the money.” But is that really the case?
In reality, there’s a number that matters much more than price during your negotiations — and it’s what directly influences your prospect’s decision to purchase or pass.
The truth, is that
Clients aren’t interested in new technology. They’re interested in ways to grow their business.
This means that to turn a prospect into a customer, you need to identify the problem their business is facing and demonstrate how your technology can solve it.
But even that’s not enough.
You also need to QUANTIFY their business problem.
To put it simply, you need to give that problem an economic value.
How do you do that?
Let’s say you’re certain that your UC&C solution will increase your client’s productivity, thus decreasing costs.
The next step is to quantify the cost reduction they’ll see compared to their current situation.
If you’re able to do that, the client will have only two choices:
- Keep their current system, and continue throwing money down the drain, or…
- Purchase your product, and enjoy a rapid return on their investment
By quantifying the value that you’ll bring to your client’s business, you make the decision easy.
If your product provides value that exceeds your price, you’ll give the client a valid reason to accept your offer, on your terms.
We all understand that quantifying the economic value your product will bring to a prospect’s business isn’t always simple, in fact, the value isn’t always the same…it changes according to the customer, their problem, the product or package, and the specifics of the deal.
That’s why you need an easily replicable process that allows you to start fresh as you analyze each new prospect’s situation. Once you choose and apply the right process, you’ll always have numbers in hand to show your prospect why accepting your offer makes much more sense than declining.
You’ll be able to neutralize that “too expensive” excuse in minutes.
Hope my tips will help you! Good sales!