Value Based Selling
Value Based Selling
In response I explained that it's very rare that my price would be the lowest and that it probably wouldn't make sense for us to try to work together given his strict buying criteria.
He seemed quite shocked that I would openly admit to being higher priced than some of my competitors and further that I would not agree to simply match the price of the lowest priced supplier.
I went on to explain that my goal in working with clients was more focused on meeting their objectives and delivering on their goals than simply securing a quick signature.
I added that some of my service offerings would be different than that of my competitors and that I could not simply "match the lowest price" unless he was willing to allow me to waive different aspects of my service offering.
And even then the best I could do would be to subtract the value of those service offerings, which still might not put me in the lowest price position.
In addition, I allowed that it would not be fair to my clients that had paid more to receive the level of service they had come to expect from me.
I further explained that a major portion of my business was derived from referrals and that my referrals were typically received as a result of my striving to offer a top quality service and that I could not sacrifice that quality to simply sign a quick order.
Again, it would not be fair to my other clients.
I also noted that it wouldn't be a good way to start a business relationship because I wouldn't be able to offer my normal quality of service (without losing money) and whats more I would never be able to help him achieve his specific goals if I was not operating at my normal level of service / quality.
I finished the conversation by stating that it would probably be a poor use of our time to pursue the opportunity further.
I was very cordial and polite and even offered to work with him in the future should the opportunity arise and should it make sense for us to work together.
Now, I'm not suggesting that anyone reading this should walk away from business.
This is just my policy...."to not only make sure I treat my clients fair but also to make sure the business relationship always starts out in a win/win manner in which the objectives and goals for the business relationship are clearly outlined and stated.....and that those goals are completely based on a return on investment that is beneficial to both parties and not simply a lowest cost based relationship where in some cases it may not be beneficial to anybody."
So again. No. I'm not suggesting that anyone should walk away from business but ironically more often than not I receive a call from the same prospect when they learn that "lowest price" isn't always what it's cracked up to be.
And the good news is this case was no different.
It's also important at this point to mention that sometimes it turns out that I am the lowest price, and when I am...I am. In fact, as long as the decision wasn't based solely on price, I am always happy for my clients when they can get the lowest price and a great deal of value. That truly is a win/win.
Just remember that not all competitor's offer the same level of service and value and not every deal is worth having. Even though the textbook might say otherwise.
until Next Time, Yours in Success
Value Based Selling - To learn more about this author, visit Corey Poirier's Website.
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Not so long ago I was in the middle of a sales call when a prospect spoke up and said the words: "I always buy based on lowest price. Period."
In response I explained that it's very rare that my price would be the lowest and that it probably wouldn't make sense for us to try to work together given his strict buying criteria.
He seemed quite shocked that I would openly admit to being higher priced than some of my competitors and further that I would not agree to simply match the price of the lowest priced supplier.
I went on to explain that my goal in working with clients was more focused on meeting their objectives and delivering on their goals than simply securing a quick signature.
I added that some of my service offerings would be different than that of my competitors and that I could not simply "match the lowest price" unless he was willing to allow me to waive different aspects of my service offering.
And even then the best I could do would be to subtract the value of those service offerings, which still might not put me in the lowest price position.
In addition, I allowed that it would not be fair to my clients that had paid more to receive the level of service they had come to expect from me.
I further explained that a major portion of my business was derived from referrals and that my referrals were typically received as a result of my striving to offer a top quality service and that I could not sacrifice that quality to simply sign a quick order.
Again, it would not be fair to my other clients.
I also noted that it wouldn't be a good way to start a business relationship because I wouldn't be able to offer my normal quality of service (without losing money) and whats more I would never be able to help him achieve his specific goals if I was not operating at my normal level of service / quality.
I finished the conversation by stating that it would probably be a poor use of our time to pursue the opportunity further.
I was very cordial and polite and even offered to work with him in the future should the opportunity arise and should it make sense for us to work together.
Now, I'm not suggesting that anyone reading this should walk away from business.
This is just my policy...."to not only make sure I treat my clients fair but also to make sure the business relationship always starts out in a win/win manner in which the objectives and goals for the business relationship are clearly outlined and stated.....and that those goals are completely based on a return on investment that is beneficial to both parties and not simply a lowest cost based relationship where in some cases it may not be beneficial to anybody."
So again. No. I'm not suggesting that anyone should walk away from business but ironically more often than not I receive a call from the same prospect when they learn that "lowest price" isn't always what it's cracked up to be.
And the good news is this case was no different.
It's also important at this point to mention that sometimes it turns out that I am the lowest price, and when I am...I am. In fact, as long as the decision wasn't based solely on price, I am always happy for my clients when they can get the lowest price and a great deal of value. That truly is a win/win.
Just remember that not all competitor's offer the same level of service and value and not every deal is worth having. Even though the textbook might say otherwise.
until Next Time, Yours in Success
Value Based Selling - To learn more about this author, visit Corey Poirier's Website.
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Staging DivaDebra Gould, aka The Staging Diva®, is President of Six Elements Inc., an internationally recognized home staging company. Inspired by many requests from aspiring home stagers wanting to start similar businesses, Gould created the Staging Diva Home Staging Business Training Program. Gould has trained over 1000 Staging Diva Graduates worldwide to start staging businesses. Buying decorating and selling six of her own homes in four years lead to an interest in real estate staging which she turned into a career with the launch of sixelements.com in 2002. Since then she has staged hundreds of homes in addition to teaching home staging training. Gould is the author of several home staging resources including a series of popular ebooks made up of a Design Guide, Color Guide and Portfolio Guide. For more information about Debra Gould visit stagingdiva.com. - Visit Staging Diva's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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