Category Archives: Price Objections

If You think It’s All About Price – Get Out of Sales

money pppp

I recently spent some time with an extremely senior group of sales people from one of the world’s biggest companies, who told me that everything was down to price.

No it isn’t.

Take for example their business. Ten senior sales people, big cars, expenses accounts, support staff – that’s a cost per person of at least £100,000 a year.

So that team of ten cost at least one million pounds to keep on the road – and they were a tiny percentage of the entire sales team.

When I suggested to them, that if all their problems were indeed down to price – and that the sales team could make no difference whatsoever – then surely getting rid of just those ten salespeople and changing the business model to a click down menu on a website, would save the business at least one million pounds.

If we did that, we could knock £1 off a million units immediately – if it was all down to price, then that’s the problem solved.

They didn’t like that idea at all.

But that unfortunately is the undeniable truth.

If the sales team don’t know or can’t explain the difference between their business and a lesser priced competitor – they become an expensive folly.

What the Buyers said;

“What’s the point of sales people who are unable to justify their mark-up percentage and margins?”

“Of course I’m going to hammer everyone down on price, that’s my job. That doesn’t mean to say I want tat! Getting the job done and receiving great value is what I’m paid for too.”

Solution

Work out the 5 reasons you are better value than the competition and then learn how to explain that to your customers.

Remember, evangelists don’t try and tell you about heaven to secure their place, they’re already going. They tell you because they don’t want you to miss out on paradise.

That is how you should be with your product or service. Get in there and help prospects make great buying decisions before some con artist tries to rip them off, overcharge them or sell them something they didn’t need or don’t want.

Watch a short Video relating to this article HERE

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The piece above is taken from an article which appeared in this month’s Institute of Sales & Marketing Management’s Winning Edge Magazine – which I wrote after asking almost half a million professional buyers one simple question; “How do most sales people let themselves down?”

Once I’d worked my way through the answers, it turned out there were 7 recurring issues that caused salespeople to lose the sales that they really didn’t need to – here’s a sneak peek of the entire article if you missed it.

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Thanks for reading this article. On my blog, I regularly write about Sales, Sales Management and Customer Service issues, topics and trends.

I’d also be delighted to connect via Twitter and of course, through Varda Kreuz Training.

Here are some of my other recent posts:

Why Salespeople Should Learn How to Sell Lemonade

Is Your Sales Team Culture Pirate Ship or Battleship?

Sales Training – Do You Want Better or Advanced?

About: Chris Murray is founder and Managing Director of Varda Kreuz Training, a company created to deliver sales training that really works – not in theory and not just sometimes, but sales training that really works. You can find out more about Varda Kreuz Training HERE or give us a call right now on 0844 923 9777 (UK)

His latest book, The Extremely Successful Salesman’s Club has been heralded as the Da Vinci Code for salespeople.

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Why Salespeople Should Learn How to Sell Lemonade

Lemonade

So, this weekend, my nine year old daughter decides to set up a lemonade stand at the front of the house as her first commercial enterprise.

To be fair, she’s been nagging me to help her do it for over a year – since she saw that bank advert with a similar age girl doing the same thing.

I only realise now, that right up until the point she set up her tiny table and chair (sandwiched between her hand-drawn poster and little plastic till) – that I was acting like your typical “don’t go into business” advisor.

I recognised it, because I heard so many myself before I set up my first company.

Are you sure you want to do this? What happens if no one comes? You might end up looking stupid? Is what you make really good enough for someone else’s money?”

But, like all good entrepreneurs and pioneers, she appears to be able to phase all that nonsense out, and crack on with what she knows to be right.

Here are a couple of things that a nine year old girl selling home-made lemonade could teach a few salespeople I’ve met along the way.

1. She sat down and worked out her USP

So why is anybody going to be buy this, honey?”

Why wouldn’t they?”

Well, there’s a lot of competition, we live not far from the local pub and a can of fizzy drink from the shop is only 50p – why would they stop and buy yours?”

So she sat and she thought about it – then redesigned her poster to explain why it was worth stopping and giving her your money – in fact she had five reasons why her Lemonade was worth stopping for.

Question: What are the 5 reasons people buy your product or service instead of the competitions?

2. She knew why it was worth the money

So – it would have been really easy, to spend £10 on ingredients and plastic cups and then just let her play shop – but she wanted to do this properly.

We put all the costs down on paper, she realised what price we couldn’t go below and why, and we justified it with facts.

Question: When someone raises a price objection do you feel uneasy, mixed with the need to knock a little off, or can you justify the value and the cost?

3. She was ready for objections

We sat down together – and I was an awkward customer – I gave her every reason I could think of why I wouldn’t buy lemonade off the side of the road, from a 9 year old girl.

We then came up with conversation pieces that overcame drawbacks, misunderstandings and scepticism.

I don’t think I’ve ever been so proud.

Question: What 5 objections do you regularly get? Have you sat down and worked out how to overcome each one so they’re no longer a problem?

4. She was passionate about the work

Two days she sat out there.

She wanted to be out there, setting up her stand straight after breakfast – we had trouble getting her in for lunch or dinner.

She chatted, she poured, she went and got complimentary bowls of water for customers with dogs.

Admittedly, it seemed to come quite naturally to her – but she wasn’t daunted by anything or anyone, intelligently delegated most of the grunt work to me (concentrating on the actions that would bring in the most money) and she really, really enjoyed it.

Question: When was the last time you sprang out of bed and went looking for new customers? If those who work with you were asked, what would they say to the question – does that salesperson spend most of their time on actions that only achieve their goal?

Until next time, best regards

Chris

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PS – My new book The Extremely Successful Salesman’s Club is getting rave reviews and I am humbled by the number of people who have already discovered it – thanks for all your support. If you haven’t read it yet, you can download the first four chapters for free by clicking on this link. Also, make sure you take advantage of these great summer offers for the book – some are extremely time sensitive.

New Varda Kreuz Case Studies HERE and Video Testimonials HERE

This year, I want to help you and your sales team become more successful than they’ve ever been before – call my office now on
0844 293 9777 or request a call back by going to our Contact Page HERE.

You and I can work out a sales training programme that suits your requirements perfectly – foundation level sales training, field sales training, account management training, selling value over price, FMCG sales training, customer service training, whatever it might be – but it’s a big old world out there and if you don’t take two minutes to invite me over, I may never know you need me.

We create bespoke sales training days from as little as £228 per person, so give my office a call today and we can get a date in the diary to start working on tailoring something just for you.

Chris Murray

0844 293 9777

By the way, if someone has forwarded you this newsletter, you can sign up to receive it directly from Varda Kreuz here

Varda Kreuz Sales TrainingManchester, Leeds, Birmingham, Liverpool, London

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Filed under Business Development, Drinks Industry Sales Training, Personal Development, Price Objections, Product Launch, Sales Training, Self Improvement

Why Salespeople Who Worry About Price will be Replaced by the Internet

Here’s the next in a series of vids that we shot with Chris Jupe recently.

Click above to watch why – Salespeople Who Worry About Price will be Replaced by the Internet – and how to make sure that salesperson isn’t you – feel free to share with friends and colleagues.

These short videos were created so that we could share some of the key Varda Kreuz Sales Training messages, with no charge , no sign up, just a quick bit of something useful for those who might not get the chance to attend one of our workshops or courses.

Hope you find it useful, best regards

Chris

PS – My new book The Extremely Successful Salesman’s Club is launched on Monday – don’t miss out on the free giveaway from Goodreads.com.

New Case Studies HERE

This year, I want to help you and your sales team become more successful than they’ve ever been before – call my office now on
0844 293 9777 or request a call back by going to our Contact Page HERE.

You and I can work out a sales training programme that suits your requirements perfectly – foundation level sales training, field sales training, account management training, selling value over price, FMCG sales training, customer service training, whatever it might be – but it’s a big old world out there and if you don’t take two minutes to invite me over, I may never know you need me.

We create bespoke sales training days from as little as £228 per person, so give my office a call today and we can get a date in the diary to start working on tailoring something just for you.

Chris Murray

0844 293 9777

By the way, if someone has forwarded you this newsletter, you can sign up to receive it directly from Varda Kreuz here

Varda Kreuz Sales TrainingManchester, Leeds, Birmingham, Liverpool, London

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Filed under Price Objections, Sales Training