Sales people lose the business and blame price for the loss. Listen to this show to learn the real reason they didn’t get the deal and help them avoid making this mistake again.
I’m walking into the supermarket and come across the paper towels section. I see two products and one is 15% cheaper than the other. Easy decision! Buy the cheap one.
As I’m grabbing the roll, I notice that the other product has 25% more sheets than the first one. I do some quick math, change course and grab the other roll. I’m feeling great. I almost got tricked, but I outsmarted the supermarket guys.
Just then, I see another paper towel product which only has one third of the sheets, but is even more expensive than the others. Who would be stupid enough to spend top dollar for fewer paper towels? Was I being punked?
Nah… But, I was intrigued, picked up the roll and started reading. These paper towels were made with a special thick fiber that only required one sheet to clean up a spill while the others required five.
My brain calculator started processing. On a price per mess basis, this is a heck of a deal. It’s actually the best deal of the three. Man, that was a lot of work, but I solved the paper towel mystery.
How many of your sales people leave it to the prospect to figure out the best deal? If they are, what makes them so confident that, left to their own devices, the prospect will determine the right solution at the right price for their needs?
After all, isn’t that the job of the salesperson?
See you next time on the Sales Management Minute.
Lee B. Salz is a leading sales management strategist specializing in helping companies build scalable, high-performance sales organizations through hiring the right salespeople, effectively onboarding them, and aligning their sales activities with business objectives through process, metrics and compensation. He is the Founder and CEO of Sales Architects, Business Expert Webinars and The Revenue Accelerator. Lee has authored several books including award-winning, best-seller “Hire Right, Higher Profits.” He is a results-driven sales management consultant and a passionate, dynamic speaker . Lee can be reached at lsalz@SalesArchitects.net or 763.416.4321.