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Increase Your Website Sales
Overcoming Objections to Price
If you could eliminate prospects' objections to price
you could close a lot more sales. If you target prospects emotions
and use questions to clarify value you'll increase your sales.
How much more could you earn if
your prospects didn't object to your prices? You'd close more
sales and be more successful.
Like most service professionals and small business owners
chances are you struggle with objections to pricing on a daily
basis. You lose business because prospects get stuck on price.
Your pricing will never satisfy everyone but the following
ideas will help you eliminate pricing objections from the
majority of your buyers.
MARKET TO PROSPECTS EMOTIONS
One of the biggest marketing mistakes you can make is to start
by marketing to a prospect's head instead of their heart. If
your marketing materials and presentations lead with a
presentation of the product or service features and/or your
own credentials, this is the wrong information to present up
front to prospects and can hinder the sale of your products
and services.
The majority of purchases are ultimately based on emotion.
Vehicle purchases are a great example. Sales of 4 wheel drive
SUV's has soared despite the fact 90% of the buyers never go
off road or need the 4 wheel drive functionality.
Porsche sales have grown steadily, despite the fact that most
often their owners use them around town and in traffic, rarely
if ever driving at the over a hundred miles an hour they are
easily capable of going.
Your prospects buy your products and services for their own
reasons, not yours. Getting their attention by focusing your
marketing on their concerns. Use questions to bring their
emotional reasons for making a purchase into the conversation.
When you present the benefits of your products or services, do
so in the context of your prospects emotional interests.
Are you marketing to your prospects hearts or their
minds?
UNDERSTAND THE EMOTIONAL REASONS
PEOPLE BUY
Some people buy cars based on their perception of safety,
others based on the potential for speed and others make their
selection based on how little gas the vehicle consumes. If you
want to be more successful in marketing you need to know the
emotional reasons people buy your products and services.
Reasons prospects buy include fear, gain,
comfort, security, pride and personal satisfaction. When it
comes to making a decision these are the motivators that
determine whether your prospects buy your products and
services.
If you sell investment advice, fear of loss, desire for gain
and security may all be motivators. If you sell wide screen
TVs or audiophile stereo equipment, personal satisfaction and
pride may be the motivators. If you sell graphic design, your
client's desired image is a motivator.
Marketing is about helping prospects make decisions. If you
understand the emotional reasons your prospects use to justify
a purchase than you can pitch to their emotions in your
advertisements, on your web site, in your brochure and in your
presentations and conversations.
What are the emotional reasons your prospects buy?
HELP PROSPECTS DEFINE VALUE
To help prospects understand the value of your services, don't
tell them; ask them. Most people learn by putting new ideas
into their own words. Use questions to get prospects to
identify the ways they'll benefit from your products. Ask them
what they want, what they are looking for, and how they expect
to benefit. Get your prospects to define their aspirations and
objectives for their purchase.
These questions actively engage your prospects. By describing
the benefits they are looking for they begin to imagine how
much better off they'd be with your products and services.
What questions can you ask to get prospects to
describe the value of your products and services?
PUT PRICE
INTO CONTEXT
There is a reason a car salesman has you look at a car in
detail and take if for a test ride so you can experience all
the features before they'll discuss price.
Hedge funds are investment vehicles that can provide unique
benefits such as being able to achieve steady growth in both
up and down markets or unusually high returns. Some investors
believe these benefits are worth paying hedge fund managers
ten times the normal management fees.
After prospects' have defined the value of the service or
product they're interested in and can see themselves using it,
then you present price. A price of ten dollars or ten thousand
can scare your prospects away if you give it to them too soon.
Are you presenting your pricing information too soon?
Increase your sales by pitching to your prospects' reasons for
buying. Use your questions to help prospects define the
benefits of your products and services in their own words.
They will have far fewer objections to price and you'll make
many more sales.
2004 © In Mind Communications, LLC. All
rights reserved.
The author, Charlie Cook, helps service
professionals and small business owners attract more clients
and be more successful. Sign up to receive the Free Marketing
Guide, '7 Steps to Grow Your Business' and the 'More Business'
newsletter, full of practical tips you can use at
http://www.marketingforsuccess.com
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