What is missing in this picture?
I titled this article “The hidden cost of doing nothing”, but it’s misleading. Because there is a third element that is missing in the story I’m going to tell you.
One of the worse prospects we can meet is the one that says:
– “No thanks… price is too high”.
Mhmm, damn! Not again…
Let’s start with the old sales school.
Ok, the price is too high … compared to what?
What needs to be considered is not the PRICE of the product, but what it can give you, its VALUE.
Suppose you sell a product whose price is $ 10,000 and generates $50,000 in additional revenue over 30 days.
An alternative option is a product called DO NOTHING, whose price is $0 but generates $0.
Imagine two prospects, John and Steve. They are comparing two alternative products:
– your product, priced $10,000, that gives a $50,000 result (“value” is $50,000)
– the competitive product DO NOTHING whose price is $0 and gives a $0 result (“value” is $0)
Imagine John buys YOUR $10,000 product.
Tonight, John will have on his bank account: -$10,000
In 30 days, John will have on his bank account: -$10,000 + $50,000 = +$40,000
Steve buys the alternative $0 DO NOTHING product
Tonight, Steve will have on his bank account: $0
In 30 days, Steve will have on his bank account: $0
By the end of the month, John who bought your product will have earned $40,000 more than Steve, who preferred to buy the (apparently cheaper) DO NOTHING product.
Moral (the easy one):
continuing to buy DO NOTHING products will continue to give GET NOTHING results.
Still with me?
Now, our job as sellers of any product or service consists of helping prospects focus on the VALUE they get, not on the PRICE they pay.
This is the “ABC of Selling” that all marketing and sales gurus teach.
The reason why Steve does not buy your $10,000 product is NOT that he considers the price too high.
It’s not the price on itself.
You see, human beings are very simple. And selfish. Very selfish. Therefore, our prospect Steve does not really care about the price of our $10,000 product. Nor he cares at all about the $0 product.
The true reason why he does not buy our product is that he doesn’t BELIEVE that he will get the $50,000 return.
And here we finally got to the not-so-easy moral.
This is the revelation I wanted to share:
Making the sales or not making the sales is just a BELIEF issue, not a PRICE or VALUE one.
Let me repeat:
making a sales it’s a BELIEF issue.
Rational arguments to convince that the price is low, the value is so high, etc., are always useless.
You just have to make the prospect BELIEVE that he can get the $50,000 return.
Until you can make Steve BELIEVE, he won’t buy.
And how can you instill such belief?
It’s explained in our system.
To know more about it, book a call with me here: http://bit.ly/2nVRN5N