Overcoming,Objections,Price,Ho marketing Overcoming Objections to Price

Automation technologies represent a fundamental aspect of any modern industry. The major types of industrial automation solutions, such as DCS, PLC, SCADA, and MES, are used on a large-scale in process and discrete industries.DCS technologie Awhile ago, I got an email from one of the "gurus" I follow and it shocked me. The gist of it was this person wanted to trade services for a household item.To say it floored me would be an understatement.What was worse was a few days later t

How much more could you earn if your prospects didn't objectto your prices? You'd close more sales and be moresuccessful.Like most service professionals and small business ownerschances are you struggle with objections to pricing on adaily basis. You lose business because prospects get stuckon price. Your pricing will never satisfy everyone but thefollowing ideas will help you eliminate pricing objectionsfrom the majority of your buyers.MARKET TO PROSPECTS EMOTIONSOne of the biggest marketing mistakes you can make is tostart by marketing to a prospect's head instead of theirheart. If your marketing materials and presentations leadwith a presentation of the product or service featuresand/or your own credentials, this is the wrong informationto present up front to prospects and can hinder the sale ofyour products and services.The majority of purchases are ultimately based on emotion.Vehicle purchases are a great example. Sales of 4 wheeldrive SUV's has soared despite the fact 90% of the buyersnever go off road or need the 4 wheel drive functionality.Porsche sales have grown steadily, despite the fact thatmost often their owners use them around town and in traffic,rarely if ever driving at the over a hundred miles an hourthey are easily capable of going.Your prospects buy your products and services for their ownreasons, not yours. Get their attention by focusing yourmarketing on their concerns. Use questions to bring theiremotional reasons for making a purchase into theconversation. When you present the benefits of your productsor services, do so in the context of your prospects'emotional interests.- Are you marketing to your prospects hearts or their minds?UNDERSTAND THE EMOTIONAL REASONS PEOPLE BUYSome people buy cars based on their perception of safety,others based on the potential for speed and others maketheir selection based on how little gas the vehicleconsumes. If you want to be more successful in marketing youneed to know the emotional reasons people buy your productsand services.Reasons prospects buy include fear, gain, comfort, security,pride and personal satisfaction. When it comes to making adecision these are the motivators that determine whetheryour prospects buy your products and services.If you sell investment advice, fear of loss, desire for gainand security may all be motivators. If you sell wide screenTVs or audiophile stereo equipment, personal satisfactionand pride may be the motivators. If you sell graphic design,your client's desired image is a motivator.Marketing is about helping prospects make decisions. If youunderstand the emotional reasons your prospects use tojustify a purchase than you can pitch to their emotions inyour advertisements, on your web site, in your brochure andin your presentations and conversations.- What are the emotional reasons your prospects buy?HELP PROSPECTS DEFINE VALUETo help prospects understand the value of your services,don't tell them; ask them. Most people learn by putting newideas into their own words. Use questions to get prospectsto identify the ways they'll benefit from your products. Askthem what they want, what they are looking for, and how theyexpect to benefit. Get your prospects to define theiraspirations and objectives for their purchase.These questions actively engage your prospects. Bydescribing the benefits they are looking for they begin toimagine how much better off they'd be with your products andservices.- What questions can you ask to get prospects to describethe value of your products and services?PUT PRICE INTO CONTEXTThere is a reason a car salesman has you look at a car indetail and take if for a test ride so you can experience allthe features before they'll discuss price.Hedge funds are investment vehicles that can provide uniquebenefits such as being able to achieve steady growth in bothup and down markets or unusually high returns. Someinvestors believe these benefits are worth paying hedge fundmanagers ten times the normal management fees.A price of ten dollars or ten thousand can scare your prospects away if you give it to them too soon. After prospects' have defined the value of the service or product they're interested in and can see themselves usingit, then and you present your pricing,they are much more likely to buy. - Are you presenting your pricing information too soon?Increase your sales by pitching to your prospects' reasonsfor buying. Use your questions to help prospects define thebenefits of your products and services in their own words.They will have far fewer objections to price and you'll makemore money.-2004 © In Mind Communications, LLC. All rights reserved.