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How do you communicate the value of your solution to prospects who are fixated on price?

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If you're in sales, you know how frustrating it can be to deal with prospects who are obsessed with price and ignore the value of your solution. You may feel tempted to lower your price, offer discounts, or match your competitors, but that can hurt your margins, your reputation, and your long-term relationships. So how do you communicate the value of your solution to prospects who are fixated on price? Here are some tips to help you shift the conversation from price to value and close more deals.

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1 Understand their pain points

Before you can convince your prospects that your solution is worth the investment, you need to understand their pain points and challenges. What problems are they trying to solve? What goals are they trying to achieve? What are the consequences of not solving those problems or achieving those goals? By asking open-ended questions and listening actively, you can uncover their needs, motivations, and priorities, and show them that you care about their situation.

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2 Quantify the benefits

Once you have a clear picture of their pain points, you need to quantify the benefits of your solution. How will your solution help them solve their problems or achieve their goals? How will it save them time, money, or resources? How will it increase their revenue, productivity, or satisfaction? How will it reduce their risks, costs, or errors? By using numbers, facts, and examples, you can demonstrate the tangible value of your solution and how it will impact their bottom line.

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? Bob Phibbs

Keynote speaker | Sales Trainer | Helping Brick-and-Mortar Retailers | LinkedIn Top Voice
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Before you get into facts and figures, a simple question, “How is this affecting you personally?“ Once you get your prospect to see how it’s affecting their performance in their job, you can pivot to see if we solve this. “What will it feel like?” than the move, heaven and earth to avoid feeling bad and instead want to feel better. Selling to emotions over facts usually are quicker to sell to.

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3 Differentiate your solution

Another way to communicate the value of your solution is to differentiate it from your competitors. What makes your solution unique, superior, or innovative? What features, benefits, or advantages do you offer that others don't? How do you deliver more value for the same or lower price? By highlighting your unique selling proposition (USP), you can position your solution as the best choice for your prospects and create a sense of urgency and exclusivity.

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4 Share success stories

One of the most powerful ways to communicate the value of your solution is to share success stories from your existing or past customers. Nothing speaks louder than social proof and testimonials from satisfied customers who have experienced the benefits of your solution. You can use case studies, reviews, ratings, referrals, or endorsements to show your prospects how your solution has helped others in similar situations and how it can help them too.

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5 Handle objections

Even if you have communicated the value of your solution effectively, you may still face some objections from your prospects, especially around price. You need to be prepared to handle those objections confidently and respectfully, without getting defensive or aggressive. You can use the LAER model (Listen, Acknowledge, Explore, Respond) to address their concerns and overcome their resistance. For example, if they say your solution is too expensive, you can listen to their reasons, acknowledge their budget constraints, explore the implications of choosing a cheaper option, and respond by emphasizing the value and return on investment of your solution.

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6 Ask for the sale

Finally, after you have communicated the value of your solution and handled any objections, you need to ask for the sale. Don't assume that your prospects will automatically buy from you or that they will initiate the closing process. You need to be proactive and confident, and guide them towards the next steps. You can use trial closes, assumptive closes, or alternative closes to test their readiness and interest, and then ask for their commitment, signature, or payment. By asking for the sale, you show your prospects that you believe in the value of your solution and that you want to help them achieve their desired outcomes.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Daren Martin

WSJ, USA Today Bestselling Author | Motivational Keynote Speaker | Executive Coach | C-Suite Advisor | Global Company Culture Association Founder
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One of my favorite quotes is, “If you think hiring Professionals is Expensive try hiring Amateurs.’ You don’t walk in a restaurant and insist on knowing how much dinner is going to be. Are you getting the burger or the Wagyu steak? Beer or our best wine. Price is irrelevant if the value far exceeds the cost. Focus on that.

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David Jones

Coach and Consultant @ Devello | Writer | Former Farmer
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Firstly, if the culture of the organization is to focus on cost instead of value when seeking vendors, one might ask how they think about their own product positioning with potential customers. Adopting a coaching stance during the sales process tends to yield the best results. If we can quantify the cost of the problem, the fee by comparison might look more attractive. For example, if my team and I can prevent you from losing $10,000,000, what's an appropriate return? And as painful as it might be, walking away is sometimes the best option. Never chase a deal, never seem too hungry. Walking back your fee and eating your own margin to serve someone else's is a race to the bottom.

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How do you communicate the value of your solution to prospects who are fixated on price?

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1 Understand their pain points

2 Quantify the benefits

3 Differentiate your solution

4 Share success stories

5 Handle objections

6 Ask for the sale

7 Here’s what else to consider

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