Thursday, November 13, 2008

Are These Two Words Sucking Your Sales Dry?

Out of the millions of words in the English language, there are two little words that cause salespeople a huge amount of stress. These two words can instantly make you break into a sweat and forget everything you know - they are: How much?

"Those two little words have the power to turn business owners and salespeople everywhere into babbling idiots," says sales trainer and author Kim Duke. And according to Duke, the words "how much" make you nervous if you're:

--Unsure about your product or service
--Needing the money now
--Not confident in your pricing

"Remember price is a component to the buying process however; it isn't in the Top 3 reasons why someone chooses you, (unless you're Wal-Mart)," explains Duke.

"Customers buy from you if they like, trust, and respect you, your company and your product. The relationship, the credibility, the value, the uniqueness of what you have to offer is more powerful than a cheap price. When your customer asks "How Much?" - they're curious about the value in comparison to price. They're curious if it fits their budget. They're just curious!"

What they're not asking (although you hear this in your imagination) is:

"I want to know how much you cost so I can offer you a lowball price and hope that you take it as maybe you're desperate and if you don't dramatically drop your price then I will take my business elsewhere and I will never, ever, ever consider buying from you again and I'll tell everyone I know not to buy from you too. So there."

"The words "how much?" cause so many salespeople to drop their prices ridiculously (when they don't need to) which of course causes a ripple effect of you accepting business from people who will never appreciate what you offer," says Duke.

"Remember - the only time you discount is when you receive something else in return for the amount you discounted. For example - they commit to a higher package, higher volume, referrals or something else equally fabulous." So the next time someone asks you "How Much?" - respond with my two favorite little words:

"It Depends."

"Give them a range of pricing starting with the highest and then going to the lowest," continues Duke. For example, "We offer services ranging from $5,000 to $100". Or mention your price and then shut up. And for goodness sake, make sure you ask them what they're looking for instead of dumping a ton of info on them!"

Kim Duke is an unconventional, sassy and savvy sales expert who shows women small biz owners and entrepreneurs sizzling sales tips on how to increase sales in a fun, easy, stress-free way! Learn more and sign up for her free e-zine at

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Blogger Scott said...

Great post about 'It Depends'. I wrote a similar post earlier this summer on the same subject:

December 2, 2008 1:18 PM  

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