Sell the value, not the price
Thursday, October 4, 2012/
Our sales director walked into my office one day, looking rather glum.
I know the feeling. I often look glum when a sales director walks into my office. Especially the one on my payroll.
“I’ve got some bad news. Our sales teams are struggling to meet our sales targets this month. Our major competitor, Snoqualmire, has cut the price of their widgets to an unsustainable level, and we just can’t compete,” says the sales director.
As soon as I heard the news, I instinctively pulled out one of Snoqualmire’s widgets from the top draw and threw it at the wall as if I were an American quarterback.
Upon impact, the widget exploded into a million different pieces as if it were a grenade. Gears and cheap plastic shards flew everywhere.
“Of course our competitor’s products are cheaper upfront. They’re cheap products. Their customers have to buy a new one every time they drop one,” I exclaim.
I then pulled out one of our widgets and did another Aaron Rodgers impersonation. It bounced on the floor a couple of times, but aside from a small dent, it stayed in one piece.
“But our customers don’t need to replace their widget each time they drop one. That’s why their customers pay a lower upfront price, but our customers get better value,” I explain.
It’s time to make sure your salespeople are selling your products on value rather than price. Otherwise, your lost customers could be left to pick up the pieces.
Get it done – today!