All I Want Is The Price!

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If you are going to make a career in sales, then it’s imperative that you come to the realization that someone will always try to come out with solutions that are bigger, faster, stronger, and in many cases, cheaper.    This is the way of the world, since customers are always looking for the best “value”.  For the customer, value extends beyond the final impact of the solution.  In the buyer’s shoes, value is also the difference between what the customer perceives they are receiving and what they are paying.  In simpler terms, people want to “feel” like they are getting the most bang for their buck.

There are two main approaches to creating more perceived value.  The first, and probably the approach we face most in sales, is when companies try to drive the cost of their product or service down.  This is a great approach when new technology pushes the boundaries of the market like Ford did with the assembly line.  As a consumer though, we tend to assume that this is always the case and believe that lower prices coincide with increased efficiency.  As time selling in the field will show, this is not always the case.  All to often, companies will provide a lower, unfeasible price that fools the customer into believing that they have a more effective way of doing the same thing others are doing in the market.  In order to overcome this approach, you have to help the customer self-realize that they get what they pay for through 3rd Party References and open-ended questions.

While it’s nice to increase efficiency and lower cost, this isn’t the only approach to creating a greater sense of value.  Instead, you can take the approach that Apple takes with their iPhone.  As we’ve seen over the past few years with the iPhone, Apple rarely, if ever, discounts their product.  Instead, they try to “think different” each year and provide consumers with the new, hot, must-have item.  They have established a model that allows them to keep their prices high while increasing sales to their highest numbers ever.   At it’s most basic level, Apple understands their customers and simply gives them what they are asking for, and in return, people are willing to pay good money.  By taking the time to understand their customers and find ways to keep things fresh, they have been able to grow in a market of products that undercut their price by more than half. 

At the end of the day, we are sales people, and while there may be that million dollar idea out there that can change the efficiency of your industry, we are more likely to find success by providing more sizzle on the steak.  When we give the customer what they want and they perceive value, they have proven that price becomes irrelevant.  If you don’t agree, take another look at the iPhone for further inspiration.  We can all sell in a “price” driven market, as long as we take the time to understand our customers and tailor our solutions to their specific needs. 

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