Two Killer Sales Objections and How To Overcome Them
Why Should I Buy From You? &
Give Me the Lowest Price or I'll Spend My Money Elsewhere.
Think about the two questions above. If you can answer the first effectively, you will never need to deal with the second.
In the last two months we talked about the concept of Education Based Marketing and What All Customers Want . We suggested an approach where you are not just providing a listing of your products, price and contact information. Rather, you are really helping your target market understand why it is that your product can help them and why the best place to buy that product is from your establishment.
We talked about the need for consumers to feel good about their purchases. They need to feel like they've made the right decision and have received excellent value for their money.
Why do people deal with price as the single most important issue when buying most products? Could it be because they don't understand enough about the products to understand what the true value of it is?
It is absolutely crucial for you to bring out that true value of your product, service or business so that your prospects understand what they are buying. Fail to do that and you fail to be able to charge adequately for your value.
Let's use lawyers as an example.
Mary is looking for a lawyer to handle her divorce. She speaks to two different lawyers and asks them what they would charge her. She asks this because she really doesn't
understand what the issues are from a legal perspective or what is involved and so can only relate to that 'cost of service' perspective.
The first lawyer responds that he charges $250 an hour and would be happy to handle her divorce…asks when would she like to book the first meeting.
The second lawyer responds by first asking a couple of questions about Mary's situation. He then describes to Mary that his practice is a little different from most family law practices, especially around divorce proceedings. Their goal is always to reach the most amicable and fair settlement for both parties. In so doing, they have found that over 70% of their clients have been able to achieve a good ongoing relationship with their ex. They generally move past the divorce and on with their lives more quickly, on average, than the norm. (And they have testimonials and survey data to prove it)
This positive approach has made it easier on both their clients and their ex-spouses, but especially so for any children who are involved. This lawyer explains that they have developed several special approaches in helping achieve this goal. Also, due to this positive approach, they are able to finalize divorce proceedings 25% faster than then norm. Finally, he shares that his rates are $300/hr.
Who do you think will be chosen? My bet is that most reasonable people will choose the second lawyer. He helped educate Mary on the special value that the firm offers and
what the benefits of those services are. Clearly the fact that the firm's rates are 20% higher can be offset by the shorter billing times and the added 'quality of life' value realized by the clients.
If lawyer #2 had not taken the time to educate this woman and left it up to a comparison of hourly rates, they likely would have lost the opportunity. This law firm presents this
same educational information on their website, in their promotional materials and in any public speaking engagements that they do. All of these venues provide opportunities to educate their target market on the unique value of the firm.
How do you educate your prospects on your unique value? Do you know what your unique value is and is it strong enough to offset price comparisons?
If you need some help with your own Unique Selling Proposition check out our guide and workbook for developing your USP.
Or, click here to arrange for your Complimentary Business Consultation, or call Joanne at 905-943-4257.
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