Overcoming Price Objections (Part I)
“FEI’s unique selling proposition is ‘Always there,’” Zoot answered. “So every communication—in-person visit, phone call, e-mail—you send to prospects and customers should drive that point home. Remind your customers as often as possible exactly what your unique selling proposition is and how you make them comfortable throughout the fire-buying process.”
“I’m so inspired by our conversation today that I’m going to try bench-pressing myself,” Ganymede said.
“Great!” Zoot replied. “It’s all yours.”
Ganymede looked at Zoot’s bench with trepidation. “Uh...but I may need to take some weight off first.”
Today’s FIRE! Point
Whether you sell torches or commercial printing services, resist the temptation to lower prices to get your “foot in the door.” Instead, move your customers’ focus away from price. Show your intelligent problem solving and commitment to helping them out by offering alternative solutions. Demonstrate your company’s strengths and USP—what makes your company more than the sum of its services.
FIRE! In Action: Procter and Gamble Raise Prices and Profits
Procter and Gamble responded to a hike in oil costs by raising prices and rolling out a high-end skin care line. Consumers were willing to pay more for the name-brand products, and P&G saw an 11 precent increase in annual profits.
Next week: Zoot and Ganymede discuss two more ways to overcome price objections.