If so, it could be you aren’t giving your prospect anything else to focus on.
Usually, when price becomes the focal point, it’s because prospects aren’t seeing the value your offering provides.
Once you start providing prospects with a clear understanding of how they will be better off because of you, those pricing bun fights will melt away.
Today’s post provides 5 ways you can sell value and get your prospects focused on what matters most – why whatever you offer is a bargain – regardless of the price you charge.
How To Sell Value So You Can Eliminate Price Objections
Buy me! Buy me! Buy me!
It seems everywhere you look, the B2B market is jammed with sales pitch- es, special offers and discounts.
And if you’re wondering how to attract prospects to your product or service without constantly having to deal with price objections, here’s the answer:
Forget cheesy sales pitches or slashing your prices in an attempt to win the sale.
Start selling value.
Let your prospects know how much their lives will change because of your product or service.
In this post, you’ll learn what value-based selling is along with 5 ways to do it.
Many marketers fall into the trap of appearing to be the same as their competitors. And the result is predictable.
When prospects don’t see how a product or service is different, they focus on the only thing left: price.
This is great if you offer the lowest price. But if you don’t – and that’s likely the case – you’re dead.
UNLESS you can find a way to take your prospect’s mind off the price tag.
Enter value-based selling.
You need to find a way to make it impossible for your prospect NOT to take you up on your offer.
If you can show prospects how much your product or service will help them achieve whatever their end goal may be, you’re away to the races.
The key is to stop selling “stuff” and start selling OUTCOMES. Here are 5 ways to do it:
#1. Think about the result your product or service produces.
Forget about you and start thinking about what your prospect’s deepest desires and fears are.
Try this: Write down all the ways you can think of HOW your offering can help your target prospects. The obvious stuff. And the subtle, not-so-obvious.
- Does your offering boost workplace productivity?
- Is your product easy to learn how to use?
- Will it help your prospect live longer?
- Can it give them a competitive advantage?
Once you have an extensive list, write down things that differentiate your offering from your competitors. Put down everything. The way it’s produced. Where it comes from. Why it’s better than the other guys. Anything that sets it apart.
Then, use these findings to show prospects how their lives will be better because of your offering.
Stop thinking about making the sale. Think about making a difference.
#2. Don’t ask prospects to marry you right away.
You’d never ask someone to marry you on the first date. And yet many salespeople start their selling communications with only the sale in mind.
This is where value-based selling changes everything.
Send an email talking about a discount on your product or service and you’ll likely fall flat – and wind up empty-handed.
You need to “prepare” your prospect and get them ready to buy.
And sending a welcome email and then following it up with a ‘Buy me’ email isn’t going to cut it.
Invest some time using several emails showing them the different benefits of your product or business.
Ease your customer into your product with trust.
#3. Educate, don’t sell.
The best examples of value-based selling don’t even seem like sales pitches.
Instead, it starts off in the form of education. Maybe it’s a free report. Or a ‘how-to’ checklist. Or a mini-course.
Remember the early goal is to build trust and credibility to a point where your prospects realize they’d be crazy to do business with anyone else.
Earn the right to welcome them as customers.
The idea is GIVE at the start…then, when it time for you to ask for something back, you have subtly earned their trust because they’ve had a chance to “experience” how you can be of service.
#4. Eliminate Buyer Fear.
No matter how much value you think you have added to your offering, it means nothing if you can’t convince your potential customer that you can definitely solve their problem.
You aren’t going to make the sale.
So how do you eliminate prospect fears?
Here are a couple of ways:
You could offer prospects a free 14-day trial to take your product or services for a test drive. This definitely increases customer confidence.
Or use compelling testimonials from customers who have already benefited from your product or service to reassure potential customers you’re the real deal.
Maybe you are in a position to offer a money-back guarantee.
The important thing? You MUST eliminate your buyers’ fears along each step of the journey.
#5. Focus on the personal benefits your prospect will enjoy.
This is probably the most important element of value-based selling: hitting the customer right in their emotions and getting them to realize how much they’ll personally benefit from accepting your offer.
There are a number of ways to do this.
Depending on your product or service, try positioning your offering as something that can boost your customer’s happiness, confidence, or productivity.
Don’t underestimate this step when you’re planning how to add value to your product, as the strongest impulse on your customer’s buying journey will be that of emotion.
Following the strategies above will help you eliminate constantly having to haggle over price.
Focus on being a problem-solver and you’ll close more sales.
No matter how expensive your product is or what pricing strategy you use, use value-based selling to solve your customer’s problems and convince them your product will help them achieve their goal.