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IS PRICE
ALL THERE IS?
By Tom Reilly, author of Crush Price Objections
(Motivation Press)
Is price the only thing your buyer cares about? Is price the
primary way you sell? Is a cheap price the basis for your long-term sales
strategy?
Consider this. If you believe that a cheap price is the best way to go, you are
diminishing the value of your company's value added. If you compete mostly on
price, you're telling the buyer that the most important reason to own your
product is because it's cheap. And if you sell on price alone, you are ignoring
the value you personally bring to the table. Effectively, you've said: "We can't
compete on product integrity; our company isn't any better than the competition;
and I'm not special."
Unless your company is built on operational-efficiency, like Wal-Mart or
Southwest Airlines, price is not the most effective way to compete. There will
always be a competitor that can and will sell cheaper than you. You must study
all of those "non-price" reasons why someone should choose your alternative. In
the words of a young salesman I know, "Since I can't cut my price, I spend all
of my time trying to figure our ways to deliver greater value to our customers."
Then, the salesperson spends time trying to figure out ways to tell his story
better than the competitor.
Anyone can sell at a low price. You need no skill, other than the ability to
read a price list, to do this. It takes skill and will to hold the line on your
prices when things get tough.
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