Salespeople who fail to work for the low-cost provider in their sector tend to struggle with losing deals based on price. Keep in mind prospects are only human, and nobody likes to pay more when they have the chance to pay less. No wonder pricing in sales remains to be one of the biggest barriers to purchase and a roadblock for many reps.
For this reason, you should consider leveraging high ticket sales to sell expensive product. Just in case you missed, a high-ticket sale is the sale of an expensive product or service. Due to price resistance, closing a sale of a high-value, but high=cost item might sometimes lead to a longer sales cycle and requires a great deal of sales skill.
Even though there are many routes you can decide to follow to win against a low-cost provider, rest in knowing you’ll never come out on top with a poor product. In the event that you product is only marginally better than that of your competitor, but costs significantly more, you’re going to lose deals. Its that easy.
Things tend to be different if your product’s price reflects significant points of differentiation, rest in knowing you can come out on top. One of the best ways to go about this is by understanding your buyer persona. Keep in mind your product or service likely solves a specific plan or issue your ideal buyer is facing.
That’s why it is never enough to talk nuts and bolts, features and pricing, especially when it comes to high-ticket sales. You must go out of your way and identify your prospect’s motivations, pains, and triggering events.
Considering your conversation will take you in a number of directions, it is perfectly okay to count on your knowledge of the product or service and competitors during your sales call. But to sharpen your sales process, always ensure you have a sales script for the primary stages of each deal.
In the event that you don’t want to continue the conversation, then it would be ideal for you to ask to schedule a meeting. If they can say yes, continue on by offering more information and opening up a dialogue. Here is where you discuss your product/service, the pains that it solves, and how it does it differently than similar solutions. It is then that you won’t leave the door for mistakes open.
