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What is the lowest price?

Guest post by: Bob Janet

Article Overview: You do not have to be a victim of the price cutters - You do not have to be the lowest price to sell.

What is the lowest price?



How not to become a victim of the price cutters



A story my grandfather told me one day when I was fretting over the competition cutting price.

"A business owner, age 98, laid dying in his bed when the image of GOD appeared before him and said to the old man, "Jacob, you have been a good honorable man all your life. You have never cheated nor taken advantage of anyone. You have always been more than generous in giving to your community, so before you come to heaven is there anything you would like me to tell you, anything you would like to know?"

Jacob though for a bit and said to GOD, "No G-D there is nothing." GOD replied, "There is nothing you would like to know, perhaps what the future holds for your grandchildren and great grandchildren, or the future of mankind? Jacob thought and said, "Yes there is one thing I have always wanted to know.

" GOD said, "Yes Jacob what is it? Jacob said, "What is the lowest price?"GOD though for a moment and replied, "I don't know. As long as price cutters are willing to cut prices, AND OTHERS FOLLOW THIER LEAD, to make the sale it will keep going lower and lower. "

You do not have to be a victim of the price cutters - You do not have to be the lowest price to sell.

1. If you are going to sell the same product as the price cutters. Sell at a higher price and SELL BENEFITS:

People shop for price, but they buy BENEFITS (What they get from the product and mainly what they getfrom you.) The services you provide for them the competition cannot or is not willing to give the customer.

I sell the same thing my competition does (sales training) but I get a higher price for it and I am hired morebecause I provide intangibles my competition cannot or is not willing to provide.

a. My 40 plus years of experience in face-to-face selling and marketing. Most of my competitionsimply read someone else's books and tells you about them.

b. Total audience involved presentation.

c. Your programs are Fun-Entertaining.

d. Customized for your needs.

e. Follow-Up

2. Sell up: Stock and show the items the price cutters are selling but don't sell them. (Don't sell the Advertise Specials.) Sell up to the product that gives the customer more product benefits. And more profit for you.

People buy higher priced products and services when you sell higher price products and services. Not just offer them but actively aggressively sell them.

Look, if your customers only purchased the lowest price products there would only be a few different businesses.

The big box discounters. Look around, there are lots of business who do not cut price, do not give their products and services away. The big difference these businesses have are sales professionals, not clerks.

Clerk: Shows products, waits for the customer to say, "I'll take it." Takes the money and bags the products.

Sales Professionals:

• Sell the value of the Benefits of the products and their business and themselves.
• Establishes and builds relationships
• Asks for the sale
• Sales professionals get the customer involved in the sale. They give the customer the feeling of control by giving them choices of products and services. Sales professionals ask questions to discover the customers real problems, needs and wants. Sales Professionals listen for those problems, needs, and want. Sales professional listen for opportunities to advance the sale. Sales Professionals listen for closing statements the customer makes and then closes the sale for higher profits.

My personal favorites to sell at a higher price are:

1. Sell Benefits.

A feature is the product / service and the components it is made up of.

The Benefit is what the customer gains from the feature. People buy BENEFITS. Sales professionals sellBENEFITS.

2. Choice questions.

When you give a customer a choice between different products and different benefits it no longer is, willthey buy from you or the competition, it becomes what will they buy from you.

YOU CONTROL WHAT YOUR LOWEST PRICE WILL BE.

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Article Tags: profits, retail, sales, sales training, wholesale



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Re: need pricing help please - I think you could be selling yourself short. Plus you may be focused on the wrong things when it comes to pricing your products. What will your buyers be able to do or get as a result of your product? How much would that be worth to them? Buyers will gladly pay over $100 for a one page report because it tells them exactly what to do to overcome a specific difficult to solve problem. Even when that information can be found free elsewhere. I know it's hard not to compare your eBook to a physical book. Yet, that may not be a fair comparison. Another thing to consider is the perceived value when a product that sounds great comes with a very low price. Some potential buyers will doubt the value of your product because the price seems way too low for the result it promises. There's a quick and easy way for you to discover the right price though. Open a Google Adwords account ($5) and then set-up a multi-variant test for different price points. If you have a decent amount of traffic you'll quickly discover the best price.
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Re: Invest in Real Estate or Stocks? - Thanks for your reply Terry. It takes a good few months, actually anywhere up to a year for the backlash of what happens in the USA to hit us here in South Africa. At the moment property is at the lowest it has been for many years and everyone is now waiting for it to start rising in value again. MichelleJ


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