I doubt any of you who have been in sales for any length of time have ever found yourself in a situation where there’s a cheaper alternative to what you…
Man! Almost got that out with a straight face!
Really? Have you ever not been the cheapest? Yeah. Sad, huh? But, hey we still have to sell, don’t we?
As opposed to overcoming a price objection, having a cheaper alternative simply means your buyer is comparing your product or service to something or someone who will do it for less money. Simply enough. But, how do you overcome it?
If you simply let everyone of those prospects walk away you’re in for a long hard road and a short career.
What do you do?
Today I want to give you some thoughts to ponder the next time this happens to you—in say, about half-an-hour, maybe? (If not sooner)
First, never, ever, ever be afraid to be more expensive than your competitor. Now, read that again. Never, ever, ever be afraid to be more expensive than your competitor.
We have all had instances in our life where we “got what we paid for” and cheaper definitely doesn’t mean better. In fact, it seldom even means comparable.
You should actually take a bit of pride in representing a product priced above others—if it’s worth it. You must be able to justify that price discrepancy, but it takes no talent, skill or ability to be the guy selling the cheap stuff.
Be proud you represent a product that can command a premium—it means you are selling something of value. That’s a huge mindset you have to grasp and hold with everything you have. You cannot fake it. You have to believe with every ounce of your being that it’s worth more than the others.
Secondly, remember you aren’t free. Many times cheaper alternatives come with no service or support. You, on the other hand, are a skilled salesperson—ready to show your client at every turn why you are worth more than the cheap guys.
[Tweet “You can discount a lot of things, but never discount yourself.~Butch Bellah”]
When it comes time to justify that price difference, look in the mirror—you’re worth much more than you generally give yourself credit for.
Finally, ask the prospect what type of cell phone they have? What type car they drive? Where they buy there clothes?
Chances are they haven’t got a flip phone, a Yugo and aren’t shopping exclusively at garage sales.
All those things would suffice, but that’s not good enough for them. Neither is the cheaper alternative to what you sell—be it insurance, real estate, automobiles or whatever.
Quality and service cost money. Show your client how they will benefit from paying a little more for the right product instead of settling for the cheaper alternative and you’ll make a lot more sales.
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