A Common Sales Technique That’s Costing “You” Money

I was walking through a retail store recently and I overheard a sales person answering a sales call. She was pleasant enough, but what surprised me was her response to a customer’s price request. She stated the price and then immediately added that there was a 10% discount that month. There are several problems with this very common sales technique. Below are a few. Feel free to add your own…

1) The discount sales technique is used to entice people to “buy now.” It creates urgency, and it can be effective. However, in this case, it was very early in the month. As professional sales people, if we need to use this technique, let’s really create the urgency. Try saying  – “What a great time to call! There is a 10% discount if you can purchase this amazing product immediately!”

2) State the price and shut up! Too many sales folks make this blunder. They’ll mumble and bumble all sorts of nonsense.  It’s important to ask ourselves why we do this. Do we think deep down the product isn’t worth it? Are we afraid the customer will be angry at the price? Root this out and start selling more!

3) Discounting our products right out of the gate devalues them. We’re telling our prospects that our products are not worth the price we’re asking. This creates mistrust, and the prospect is likely to shop around. Put another way, thanks to our focus on price, we turn our prospects into bargain hunters.

4) Price over value is the preferred sales technique for amateurs. They’ve been so beaten up on price that they have given in. They roll around in the muck of sales negotiations over price – no fun, and no money! A better approach, find the value in the product and lead with that. Tie the value into the prospects needs and desires. When we do this, we sell more, for more – a win/win.

What are your thoughts? Would love to hear your sales tips!

Thanks,

~ Theo

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