How To Get The Price You Want

Are your prospects 100% with you, ready to hand over money or, are you finding that you are not closing all the sales you would like?

Do you get the feeling they are keen for your product or service, but something is holding them back?

Would you like to know a neat trick to simply increase your sales and help some of these prospects simply and easily over the line??

It comes down to options!!  Yep – as simple as that!  It is not always about your competitor, or your clients readiness, or even your ability to handle the sale.  Sometimes it is simply about creating options and giving your prospects more choice.

If you have a serious look at most businesses, they have their key products or services, their signatures in the market.  You either buy or you don’t.  So how much business could they (or you!) be missing out on?

One of my recent coaching clients has a fantastic service, but he had one price and one solution, so the options were:

1. take what he offered, or
2. don’t!!

Here is what I suggest: take the service you want to promote and create a service either side – yes, give your client 3 options!!  The most expensive, the one you really want to promote and the cost effective option.

Oh and here is a wonderful piece of advice I received from @itsinthestars (btw I highly recommend you join Elizabeth’s mailing list – she is one very savvy woman with an absolute fountain of information to assist your online business!):

• for those whose websites are directed to an english speaking population, list your 3 prices from left to right in descending order and make the information smaller as you span across, ie:

This is the largest price	This is the middle price	This is the cheapest price
You want the most	You want this one to be	This column needs the
Information here	The preferred choice!	Least amount of
This column is to be	I suggest writing this	Information (look cheap)
The longest, so the	Information first and
Eye is drawn from left to	Then make sure your
Right with the	More expensive and
Information decreasing.	Cheaper options look
This column is like the	bigger & smaller
Rolls Royce of your
Options! EVERYTHING
Needs to be here!
As you move across
The information in the
Columns will decrease.

I have heard this called the F-effect (someone may be able to help me with the correct nomenclature??). The principle being we read left to right; so we read all of the information on the right, we may find it out of our price range or more of a solution than we really need – the middle option is now looking good!  AND human nature generally decrees that we aren’t cheap and you get what you pay for, so the last option isn’t generally considered (unless there is a genuine budgetary requirement).  Again the middle option is looking good!

From a sales perspective, you are removing the “yes/no” dilemma – your prospects are now deciding between service or product options, not “will I or won’t I” options!

By giving your prospects choice you are reducing the likelihood of them looking elsewhere!

Buyers today are the most savvy they have ever been!  You will know that they generally come prepared, having researched what they need or want.  So by the time we are at the “purchasing cycle”, we are less of an information provider than we used to be and more of a service or solution provider.

So ensure that you make it easy for your prospects to stay with you!  Give them choices, build these choices either side of your preferred product/service and make closing the sale easier!!

PS: oh, by the way – DON’T GIVE THEM TOO MANY OPTIONS!!  If they are confused they will likely go elsewhere.  3 is a great number, if you can achieve it!

By Stephanie Bressan 2010 Stellar Strategies – Copyright

 

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Stephanie Bressan a Sales Coach, Trainer and Speaker and is the founder of Stellar Strategies a Sales Business providing assistance to teach you how to increase your business through sales and offering sales outsourcing solutions!  Please see our blog for heaps of free sales tips and advice, or contact us info@stellarstrategies.com.au if you have any questions, or if we can be of service!

Tags: convert sales, F effect, get the best price, get the price you want, give buyers choice, good small business tips, increase business, options for prospects, small business tips and advice, Stellar Strategies

This entry was posted on Tuesday, June 15th, 2010 at 1:44 am and is filed under Sales Tips & Advice, Small Business Success. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.