How to Sell to Price Focused Shoppers

 

 

 

 

 

The most common complaint I hear as a business coach is that we can’t compete with the big guys on price.

The perception in the marketplace is that people are shopping on price alone. The only reason your customer asks the price up front is because that is what we as business owners have trained them to do.

How many times have you rung or gone into a business not really knowing what model, style, colour or features you were looking for and purely asked for the price? At this point did the salesperson come back with “that is £29.95” or did they ask you some questions about what you were looking to use the product/service for? In this instance let’s say it is a kettle. Are you comparing apples with apples?

Now in most people’s eyes a kettle is a kettle, but they have many different features and offer many different benefits. So, what if the sales person simply said to you when you inquired about price, “just so I can help you best is it OK if I ask you a couple of questions about the kettle that you are looking for?” Would you have answered yes? My bet is that the answer would almost certainly have been yes!

The salesperson could then ask questions like; are you looking to replace an existing kettle or is it a gift for someone? Do you regularly use your kettle or is it rarely used? Would you like a kettle with a quick boiling time? Have you seen the cordless options that are available? Are you looking for something to match your kitchen? So what colour are you looking for? Is it important that it has an automatic cut off when the kettle is boiled? Are you after a stove-top option, or an electric kettle? Kettles come in different cup capacity; do you require 10 cup capacity or is 5 a better size for you?

From these questions the customer gets the idea that the salesperson is genuinely interested in their needs and the salesperson is better able to offer options in the most suitable kettles for their needs. The price is therefore negated. It is just a matter of now asking the customer to buy.

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? Great, I can either put that away for now or I can process it on credit card for you and have it delivered to you tomorrow – which do you prefer?”

If the option is credit card, ask “which credit card is it easiest to process that on?” and make sure the prospect is aware there will be a delivery charge of x amount. If the option they choose is to have it put away, this gives the salesperson the opportunity to get the customer’s name and contact details. If the customer chooses this option, make sure the salesperson gets a time frame for them to pick the item up. Be definite with the infinite. If the customer is in your business the salesperson then simply takes them to the point of sale terminal and transacts the sale.

This example was based on a kettle, a relatively small pound item, but how does this apply to your business, this process works equally well on cars, houses, furniture, service-based business and any other product I can think of. You just need to work out what your customers are looking for when they ask for the price and what’s more important to them in their buying decision! How good is your sales process? 

Kent BA – Providing Expert Business Support is a business coaching, consulting and training company that works with businesses supporting the business owner and working to improve the results in their businesses.

Bill Fox

 Bill’s vision is to make Kent the best place in the World to run a business  A certified multi award winning International business coach and voted 1 of the top 10 SME business experts in the UK by Enterprise Nation  Founder of The KBA way system ™ for Business Improvement and Growth  Served as Branch and Regional Chairman with the FSB  Served as a National Councillor with FSB  A Kent Ambassador  Business Advisor at the University of Kent Hub for Innovation & Enterprise  Worked with Young Enterprise, Get Mentoring and IOEE Mentoring  Has supported hundreds of companies on all aspects of their business journeys EXPERIENCE: I started my business journey in September 2005 by becoming a certified business coach with the Worlds #1 business coaching firm. Since then I have helped hundreds of clients to achieved extraordinary results. I was trained by some of the best business coaches in the world during my induction in America where I studied and learned my trade. I am also a qualified emotional intelligence coach, again trained by one of the world’s leading emotional intelligence companies Roche Martin® MY BUSINESS: I started my business in 2005 having spent 30 years working for large blue-chip organisations where I gained a huge amount of experience running other people’s businesses, working with teams of people across multiple sites in Europe improving performance, Leadership & Management. I have a huge amount of experience that I can call on to help you and your organisation. TESTIMONIALS: Bill Fox helped get our business to where it is today. A happy, thriving, growing organisation. Bill and Kent BA provide practical and pragmatic assistance in terms of coaching and helping secure external funding. We recommend them strongly!" Data Management Company Bill has been an excellent coach, always supportive and encouraging. He has helped me think outside the box and explore options I hadn't even considered for my business. He tells it as it is and overall offers great support and advice for any new starter or an existing business in need of a boost. Thanks for all your help. Hand Made Furniture Company Bill is a great no nonsense guy that understands what it's like to run a business in the real world. You'll not get "fluffy" from Bill! You'll get great advice even if you don't want to admit it to yourself, he's invariably right! Damn it! He takes time to get to know you and your business and gives timely advice that you can grow & learn from. Thank you, Recruitment Company "Bill is thoughtful, considered and calm. He has a real-world experience and a measured approach. If you're looking for a supportive coach, Bill is your man." Community Volunteer Company Having been in business for over 20 years taking Bill on as my business coach was a difficult decision, working with Bill on my business for over 6 months now – I can certainly see the difference and wished I taken on a coach years ago. I’m working less and earning more and getting better results across the whole business." Blinds & Curtain manufacturer & Supplier

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