Value is determined by what's important to you.

One of the oldest arguments in the book! Do I sell based on my price or try and convince my prospect there’s enough value to pay more for it than my competition is charging?

Selling based on price is for cowards. Reps that are absolutely convinced of the merits of their product/service, delivery, and support package don’t feel the need to give anything away. Why should they? The goose lays golden eggs, for cryin’-out-loud. I’ve seen her do it and it’s real gold! Why would I give that away at a discounted price??

But what if I lose the sale?

If you lose the sale you maintain your backbone, your pride, and your ability to sell your product or service to a smarter prospect that sees the value. If you make the sale by lowering the price you’ve given away any position of strength you may have had, a good portion of your pride, and a hefty percentage of your commission. Try paying your bills with “the sale”. You can’t. You pay bills with commission money and you’re giving it away as fast as your prospects can work their lame, flea-market bargaining, lingo on you.

Bottom line: there’s no money in selling based on price.  As a sales rep you’ve got to learn how to make someone want something badly enough that they’ll pay your price to get it.

What kind of value, real or perceived, can you attach to your product so that taking a hatchet to your price doesn’t become the primary point of discussion?

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Phillip Crum is the Chief Idea Officer of MarketingMeasure located at 2414 Arbuckle Court Dallas, TX 75229, and is committed to the idea of helping small business owners do a better job of finding their next customer or client. He and his two sons,Tyler and Preston, also own a Sir Speedy Printing franchise and employ those additional capabilities in the overall marketing services menu of offerings. Phillip can be reached at 214-213-7445, or pcrum@MarketingMeasure.com.