The One Question
What’s the question you want answered? It’s not the answers that you receive. The power is in the questions you ask. The clearer you are with the prospect, the better you can help solve their issues.
The Utter Failure Of Trade Show Sales People
It’s been 14 days since I attended a technology trade show and I’m still waiting…. Let me explain.
I was invited to be a guest at a trade show for a local technology company. Being in the sales training and coaching business, I’m always interested in how trade show sales people treat visitors to their booth. So I decided to do a little experiment. Read more
3 Tips On Selling A Premium Product in a Commodity Market
A few years ago, I did a Webinar called “How to Sell A Premium Product in a Commodity Market.” It was one of our best attended webinars we’ve ever done.
Lots of interest in the topic – and I believe I know why.
In this article, I want to update some of the content and give you a couple more ideas. I picked this topic because it is an ongoing area of concern for sales people – how to sell a premium product into a market that sees price as THE main driver.
Why it’s so tough.
Think about it. We live in a “price leads” society. Advertisers have led us on a race to the bottom by the constant drumbeat of, “Lowest Prices In The Industry!” Or, “We’ll Beat ANY Price!” I know you’ll say, “But I’m not in the retail game.” No, you aren’t. But do you see the attitude that they’ve placed in the minds of buyers?
So the context is that even though your buyer might not jump to “What’s your price?” they certainly have it on their radar.
Here are four notions that I suggest you consider as you extract yourself form the “commodity dungeon” where the only important issue is price:
1. Position Your Self Properly.
Interesting thing about positioning is that it’s not just about what you say – it’s about how you say it. Sales people spend so much time concerned with the “what” and ignore the “how.”
And that’s wrong.
Regardless of your word choice (you’ll have to decide that), the essence of your message should be centered around ‘the types of problems that you solve.’ That’s right – no enthusiastic sales pitches about how great you are – or how smart your team is. None of that.
Frame your ‘premium value’ around the pains and problems that prospects face. Some of those problems they know they have. Some they’re oblivious to. But either way, begin the conversation there.
Be a problem solver not a product seller. There is a trap waiting for you. The prospect sets it and you fall right into it. It happens when the prospect shows interest and you default to “the pitch.”
Instead, when your prospect shows interest in the types of problems you solve, refrain from pitching the product and spend more time diagnosing what that problem means to him. This one thing can do more to change your position (in the prospect’s mind) and help them see that your premium fee is worth it.