You are literally wasting your time and money if you can’t turn a lead into a sale. Two of the most common reasons prospects don’t end up buying include:
Your price is higher than they were prepared to pay.
They got a lower price from someone else and don’t see the value of your solution.
No matter what you’re selling, until value has been established, your price is always too high. You can turn more prospects into buyers by always emphasizing value rather than price.
We’ve all experienced the long-term cost of paying too little: poor quality, short cuts, no warranty, hidden costs, and longer completion time. Most of your potential customers understand a lower price may be attractive at first, but this will cost them more in the future. Good quality products and people are almost always more expensive.
In this article, I will cover 10 ways to turn a lead into a sale. If utilized correctly, these concepts can be a gateway to leaving the price game behind and developing a pipeline full of pre-sold referrals willing to pay a little more to get exactly what they want.
- Don’t run away from your value.
When faced with a price objection, gladly justify your higher price: Your product is ready for immediate delivery. You’ve got years of experience, a company with the best people, processes and procedures. It’s not just about the product it’s about what your company can provide. - People pay more for peace of mind:
Offer a warranty: Maybe it’s a 1 year on parts and service. If the low-price leader is already offering 1 year, consider offering 2 or 3 years. If you’re not currently offering a warranty, you may want to at least consider it. - Offer a return on investment:
“You will save enough on supplies that pay for it in less than five years.” Do the calculations and show them how this particular investment gives them a great return. Remember, it’s not always about dollars and cents. In our busy world, time is our most precious commodity. If you’ve got a way to save time, or even create more quality time, the ROI can be off the charts.
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