How do you Sell to a Price-Focused Customer?
The general perception in the marketplace is that society is shopping based on price alone. However, the only reason your customers are price-focused is because we, as business owners, have trained them to.
More often than not, people go into a business not really knowing what model, style, colour or feature they are looking for, and purely ask for the price. At this point, should the salesperson come back with the direct response,
“That is $29.95.”
Or should they ask the customer about what it is they are looking to use the product/service for?
Sell to a Price-Focused Customer
Let’s use a simple example of a kettle. Now in most people’s eyes, a kettle is a kettle. But, it can have many different features and offer many different benefits.
So, what if the salesperson responds with,
“Just so I can help you better, is it okay if I ask you a couple questions about the kettle you’re looking for?”
This is a better response than simply telling the customer the price. The salesperson may then ask questions like:
- Are you looking to replace an existing kettle or is it a gift for someone?
- Have you seen the cordless options that are available?
- Are you looking for something to match your kitchen?”
- Kettles come in different cup capacity; do you require 10-cup capacity or is five a better size for you?
From these questions, the customer feels like the salesperson is genuinely interested in their needs, and that they are able to offer options based on the customers’ needs. The price is, therefore, negated.
Close the Sale
At this point, it is just a matter of asking the customer to buy the kettle and close the sale. A good salesperson would then ask,
“Well, based on what we have just spoken about, there are two options to choose from – model x and model y. Which one suits you best?”
Finally, he can ask, “Great, would you like to pay for that by cash or credit?”
While this example was based on a relatively small dollar item, the same process can be applied to other businesses – such as cars, retail, houses, service-based businesses and any other product there is.
Every business owner needs to work out what his customers are actually looking for when they ask for the price, and what’s most important to them in their buying decision.
Is your sales team having trouble selling to price-focused customers? Contact Business Coach Rob Carol today to take advantage of a Free Business Coaching session.