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Taking Action on Selling a Premium Product – Part 3

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This is part 3 of our 3-part series on “Selling a Premium Product in a Commodity Market.” In this episode, we deal with ACTION.

What ACTION will you take to command a premium product in your world? This was a Facebook Live broadcast on 03/28/17. The prior three episodes dealt with the other sections of this topic, Getting Clear, and Getting Ready.

If you sell a high-priced product, then make sure you are aware of what goes into the process to get your price.

Take the first step of becoming a better salesperson: Go to https://billcaskey.com/pro to get your assessment, “Are You An Amateur Or Are You a Pro?”

 

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How Do I Best Communicate My Premium Value When I Face Headwinds?

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OK, so you don’t like my headline, huh? Well, I did it because in this episode, I address seven questions that I received following our last podcast.

These questions tell me a story about the kinds of issues sales people face when communicating premium value. And I like to think of the resistance we meet as a ‘headwind.’

I trust you’ll listen to this entire episode for it holds lots of lessons for you, whether you have these specific questions or not.

Take the first step of becoming a better salesman: Go to https://billcaskey.com/pro to get your assessment, “Are You An Amateur Or Are You a Pro?”

Also mentioned in this podcast:

 

How To Sell a Premium Product – Part 2

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This is part 2 of a 3 part series.

In today’s episode of The 2X Podcast we address the elements of “Getting Ready” to enter the market with a Premium Product Solution.

Find How to Sell a Premium Product – Part 1 here.

Here are the topics we cover:

1. Being able to explain your premium value competently.
2. Being skilled at handling the 5 questions you will get from your prospect.
3. Being able to articulate your difference.

Take the first step to becoming a better salesman! Go to: https://billcaskey.com/pro to get your assessment, “Are You An Amateur Or Are You a Pro?”

Also mentioned in this podcast:

 

How To Sell A Premium Product – Part 1

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The second part of this is …”In a Commodity World.”

Every seller we know faces this problem: “How do I better control my thinking and my actions so that I will command a premium product price – in a world that is price-sensitive?”

This is Part 1 of a 3 part series.

In this episode, Bill walks you through how to GET CLEAR on your value.

Take the first step of becoming a better salesman: Go to https://billcaskey.com/pro to get your assessment, “Are You An Amateur Or Are You a Pro?”

Also mentioned in this podcast:

 

Episode #389: Premium Pricing Revisited

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advancedsellinpodcastgraphicbootStanding out in a commoditized sales environment is tough. In today’s episode, veteran sales trainers Bill Caskey and Bryan Neale explore the world of landscapers and the B2C marketplace.

How do you sell a premium priced product, service or experience when everyone around you is selling for less?

Are you creating a vision for your customer or having them help paint the vision with you?

In today’s episode of The Advanced Selling Podcast, Bill and Bryan give you specific steps to take to help combat the issue of premium pricing, regardless of what you’re selling. You’ll learn how to teach your customer about the buying process and communicate the impact of your work without sounding “salesy.”

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3 Tips On Selling A Premium Product in a Commodity Market

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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.

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