What’s the true cost of selling purely on price?

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What’s the true cost of selling purely on price?

What I want to share with you in this weeks salescast is what really happens in the eyes of your customers and prospects when you sell on price and in the next edition I will be focusing on some of the big pitfalls to you and your company by selling purely on price.  

When we find ourselves in economic times like these, it is easy to fall into the mindset that our customers and prospects are only interested buying at the cheapest price possible.

The trap many people fall into is confusing difficult economic times with the idea of customers or prospects having less money. Granted some companies might well cut back their budgets but making yourself the cheapest option isn’t the answer.

When we focus on price a number of negative things happen to the sales process

1)    When you sell only on price, that’s the only information that the customer or prospect has at their disposal to make a decision. In their eyes your offering will provide little or no value to them.

2)    You put yourself in a very vulnerable position from a sales perspective. If you only sell on price what happens when a competitor comes along and undercuts your proposal?

3)    Ask yourself the following questions,

i)    Will price alone solve your customers or prospects problems?
ii)    Will price alone add value to your customers or prospects business?
iii)    Will price make things easier for your customers or prospects?
iv)    Does price bring any benefits to your customers or prospects business?

The answer is of course no, the reason why selling on price is not a great idea, is simple it doesn’t matter what type of market conditions you find yourself in most people DON’T BUY ON PRICE! What they do is they buy what they believe to be the best value and the most suitable solution within their budget!

In the next edition I will be covering the major pitfalls that you will encounter when you sell purely on price.

So until next time have a great week, go out there focus on all the other important things that matter to the client besides price!

 

Written by Paul Routley FinstSMM

Paul Routley is an award winning trainer and one of the country’s leading authorities on modern sales techniques.

With over twenty years’ experience in sales and sales management, starting out in sales at the age of 17 and working his way up from trainee sales person to sales director, working for some of the world’s largest and most well-known companies along the way.

Paul has held a number of sales manager and sales director roles throughout his career and has a proven track record in creating and developing extremely successful and effective sales teams in every industry he has worked within.

As a trainer he brings a tremendous amount of experience and invaluable knowledge to all aspects of sales and selling within a variety of industries with a particular flair for telephone selling and a grown up approach to cold calling.
Paul’s training courses are always memorable and renowned for not just being educational and enlightening but also inspirational, motivational and entertaining.

During his career Paul has lived and worked in more than twelve European countries including: Germany, France, Sweden, Estonia, Italy, Switzerland, Holland, Belgium and Ireland

Paul is one of the UK’s leading sales trainers and also a fellow of the Institute of Sales and Marketing Management

 

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