How to Handle Your Product’s Higher Cost When it Comes Up During Your Presentation

September 29, 2009 by  Filed under: Sales 

People will buy even the most expensive items if you satisfy their needs and prove the items’ worth. You must show the prospect how the product or service will benefit them and is worth the higher cost. Notice I said cost not price. Price has a sharper sound connected to it from the consumers’ point of view. Psychologically cost sounds more appealing to the consumer than price.

Selling a quality product that costs more than your competitions must be done in such a way that indicates how the benefits of the features justify the higher cost. Sell the differences that make your product worth the cost. Mention those differences and features early in the presentation. “The Ultimate Drill has not one but six safety features”. Doing this early in the presentation helps the prospect to understand how the product can do what it does. Why it costs what it does and most importantly why it is worth the higher cost. Pound away at the benefits of those features early and often.

Doing this early in the presentation plants a seed in the prospect’s mind that lingers in their sub conscious and stays there for the rest of the presentation. It creates a positive state of mind that will be with them throughout the presentation and act as a positive for you.

You must have faith in your product and believe it is worth the higher cost , this is imperative. If you don’t exude this confidence your prospects will sense it.

In Summation:
When your product costs more than that of your competitors you must introduce the reason why that is so early and often in the presentation. You must show the worth of those features and why they reflect the higher cost. You must do this with conviction. The customer is then immediately aware of what the product can do, how it does it and why it is worth the higher cost.

Thank You
Joe D’Ambra
http://www.basicsofsales.com – Sales Blogs offering sales tips.

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