Sold! - 07/09

»Price is a component of every sales transaction but it need not be the hindrance to closing a sale, which salespeople sometimes fear. While a question about price may be a sign of interest or objection, how a salesperson reacts may determine the outcome.

Often, a premature question about price means that a buyer is “shopping.” If you are early in the sales process, don’t ignore the question, but be sure to redirect the conversation quickly to the benefits of making the transaction. By focusing on price too early, the buyer is more likely to be thinking about cost than the potential benefits. Therefore, always stress value in the sales process. After value is determined, closing a sale is much simpler.

You must show evidence of your product’s quality to support your pricing. Quality is not always obvious—and in the case of service transactions, may be somewhat subjective, so you might need to provide testimonials from satisfied customers as proof of value.

The best salespeople know their company’s price structure and the reasons for it. They also know their competitors’ pricing and what differentiates their own product or service from competitors’ relative to price. With that knowledge and an emphasis on value, benefits and quality, price is merely the final piece of the puzzle, and then you can write the contract.

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Considering a service like SocialOomph or Hootsuite to automatically post updates or send replies? Automation done the right way should save you time and provide value to your followers, but not replace interaction. Social media is still about building relationships
—Cyndee Woolley, C2 Communications