Tuesday, September 22, 2009

Selling Value In A Recession

While we're often told we need to sell on value, it can be hard to figure out what that actually means. How do you determine the value of your product, and how do you go about presenting those values in an enticing manner? Today sales trainer Jim Meisenheimer shares a few examples and gives some ideas to get your value pitch flowing.

Imagine what it would be like trying to sell $35,000 luxury watches during this recession. Well for starters, it wouldn't be easy. Old selling skills have to be modified and new skills adopted. For example, you're showing a potential customer an expensive watch. Customer says, "How much?" A typical response might be "$8500." A better response would be "The value is $8500." Instead of saying, "Would you like to try it on?" You want to avoid questions that can be answered with a "Yes" or "No." A better response would be "I invite you to try the watch."

Jean-Marie Brucker, is CEO of a company that specializes in luxury-sales consulting, and these are some of the sales tips he shares with his clients.

Personally I believe all salespeople should avoid using the words "discount" and "price." Use the word "value" instead of price.

Good ole Elmer Wheeler probably said it best in 1938, when he said you have to sell the sizzle not the steak. And the sizzle of course are the benefits. Jean-Marie Brucker refers to the same concept as selling "the romance."

What are you selling?

--Are you selling safety?
--Are you selling performance?
--Are you selling productivity?
--Are you selling quality?
--Are you selling luxury?
--Are you selling fear?
--Are you selling pleasure?

Here are two things to think about if you want to improve your selling results during this recession.

1. Determine what you are selling.

2. Prepare presentation statements that wrap your "Value" with romance and/or some sizzle.

Since selling value doesn't come naturally to most salespeople I encourage you to practice what you prepare.

Your sales prospects and customers won't get emotional about what you're selling until you get emotional and excited about what you're selling. Get excited and show some emotion and enthusiasm for your prospects, your products, and your company. It really makes a difference.

Former U.S. Army Officer Jim Meisenheimer is an author, speaker and sales trainer with years of successful selling experience. He publishes the bi-weekly No-Brainer Selling Tips Newsletter, which is packed full of information to help you win bigger sales and KO the competition. Learn more at www.meisenheimer.com

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