How to Sell a Premium Product in a Commodity World

You just got the phone call from a prospect who saw your presentation, who shared their pain with you, who you felt was a really good fit, but the answer came back, “No, we’ve gone another direction.” How are you feeling about yourself? Not so good, huh?

The problem may have more to do with your mindset than it does with your product or sales approach. What I find is that most salespeople who struggle to sell premium priced products in a commodity/price sensitive world are those who struggle mentally with the value of their own product and, specifically, of their role in the sales process.

As long as you look at your role as being there to “sell something to someone,” you won’t have the right mindset to sell a premium product.

So what should be your sales mindset?

1.   The price difference is miniscule compared to the value delivered. I know we all believe that about our product, but have you ever written down the 10-50 value components of your product and assigned a value to each one that the customer would either save on or profit from? No? Then how do you expect to explain it to them in a way that’s factual and opinion-less?
2.    Never be attached to the sale. When you are attached to the sale/needy/hungry/desperate, you give off a vibe that says, “I don’t believe very much in my product, but I really need the business.” If you’re giving off that vibe, they are reading that vibe loud and clear. Their reaction is, “Thanks, but no thanks.”

Now, I realize that we talk on this blog and on our podcast (www.TheAdvancedSellingPodcast.com) about detachment. It’s not as easy to detach as it is to talk about detaching. But you’ve got to figure out a way. Go to a coach, hire a therapist, talk to people who are your mentors, who have made it big in a business, to teach you how to do it. Status quo won’t work. Desperation is not a good strategy.