Is Price All That Matters?

Some sales professional believe that all customers want to know is the price. This is not so. Today’s customer wants to know more. A customer is looking to get the value and the best price (not always the lowest) that fits their level of satisfaction. This shift in thinking became more evident as specialty products emerged on the market. Popular products include environmentally friendly or green products, metal roofs instead of shingles, granite instead of laminate counter tops, and fiber cement instead of vinyl siding. This shift in the customer’s decision process has required salespeople to work a lot smarter. They must now equip themselves with the benefits that add value to the product and the price. If they fail to do this, they will run the risk of losing the sale!

Did you know that 25% of customers want a good product for a low price, 50% try to buy on better value for a reasonable price, and the other 25% want the best product money can buy? If the sales person has educated their customer on the choices available, the customer will be a great candidate to move from “good“ to “better“ and possibly “best“ in their buying decision. Here are some helpful tips on how to sell effectively to each of these types of customer:

The Good: This customer looking for the “good” choice is shopping on price and wants to spend less now hoping that that they won’t have to repair or replace before they move out of their home. While he might be difficult to educate and convince, you should always inform them of the BEST choice and you may be surprised as to their final decision.

The Better: The customer looking for the “better” choice represents the largest number of buyers. He is looking for a balance of price versus value. This customer is your bread and butter. When you take the time to sit down and educate them as to the fundamental pros and cons of all options—good, better, and best—and give them a little nudge, it is very likely that they will choose your product.

The Best: This is your long-term investor. He expects you to be the expert, educate them, and will develop a trust in you based on this factor. When they gain this trust, it will only take a little nudge, and you can feel confident when they respond with “where do I sign?

Talking to your potential customers in terms of good, better, and best makes it easy to educate the customer as to the ideal investment for them. It also helps you eliminate the competition and land the majority of the jobs. You are the expert, after all!

Call R2R Marketing, at 757-482-3492 and let us work with you in creating a strategic and custom marketing plan for your success. We can help you achieve YOUR goals today!