Tired of having to overcome, make apologies, and come up with excuses for the price of your products? Or do you just sell wholesale and give discounts to all of your customers - because you also think the prices your company recommends are too high?
Network marketing is full of sticker-shocked distributors who under-value their own product line. Focus on those products from which you have personally benefited - the ones you feel are worth their weight in gold. Become an expert in those products; lead with them on every retail appointment. Once you find the products you truly believe in, you can justify the price by showing your prospect the tremendous value each product offers.Focus on Value
|Everyone knows that luxury cars are overpriced - yet they fly off the dealer floors. How is that possible? Because those salespeople know how to focus on value.|
Want a real-world lesson in how to build value into an apparently expensive product? Go talk to a salesperson at a luxury car dealership. In car sales, they're the best in the business. Everyone knows these luxury cars are overpriced - yet they fly off the dealer floors. How is that possible? Because those salespeople know how to focus on value.
My last car was a Volvo. I told the salesperson that I could buy a Toyota that had a much better Consumer Reports rating for about half the price. He looked me straight in the eye and said:
"You're absolutely right, and if you're ever in a serious accident, you'll know exactly why you paid half price. A Volvo isn't just a car, it's a moving fortress on wheels. Driving is the most dangerous thing you do, Mrs. Siebold. You're buying a car that could literally save your life." Suddenly, the Volvo didn't seem expensive anymore...and I bought it.
Build a value for your product that exceeds the retail price, and you'll have little trouble writing the order for full retail. Your customers will walk away feeling that the value of the product is much greater than the price they had to pay. I never felt that I paid too much for the Volvo, because I always felt so safe driving it. This was the direct result of a salesperson's value-building expertise.Amazing Value
Suppose I told you that I had a supplement that would guarantee you'd never have to worry about weight-loss: You simply take one pill every day, and you can eat whatever you want and never have to exercise? How much would you pay to get that pill?
How about a drink that would guarantee you'd never develop cancer or heart disease - how much would you pay?
Most of us would pay anything to get these products, wouldn't we? That's extreme value! Of course, their are no supplements that can do those things - but learn to build even half of that kind of value into your products, and you can write your own ticket in this business.
A few months ago, I met with one of the highest-paid networkers on our client roster. I was giving a detailed presentation about a process our team was designing for his company - and right in the middle of it he stopped me, leaned over, and said, "Do you know what you need?" Baffled, I said, "No, what's that?" "You could use some wrinkle cream."
Now, we'd become pretty close friends, but I didn't think we were that close! I said "What?" He began telling me about this wrinkle-remover product his company had developed. "Works like magic," he said. He told me personal stories about how his wife and mother had both been using it, and how great they looked in just a couple of weeks. At this point, I wasn't interested: the value of the cream was much smaller than the price. I was more interested in my proposal. I thanked him for the information and we went back to my presentation.
Soon, he asked me when I was going home next to visit the family. I told him I was going back for my 20th high school year reunion in October, which was about four months away. He looked at me and said, "Wouldn't it be great if you started using this wrinkle cream today? Just think, it takes only two months to see real benefits; after four months, you'll look 10 years younger - just in time for your reunion!"
Had the price changed? No. But the value of that product had just skyrocketed.
Then he said, "Don't you usually get pictures made at these kinds of things? I know you have a twin brother; how cool would it be if in that picture, you actually looked younger than your twin!" Value just got bigger - price stayed the same.
Then he said one last thing. "Sure, Dawn, you're young and attractive now, but just think how great you'd look as time goes on, if you started using this cream today. You know all those fancy events you and Steve always attend? How fun would it be to be the youngest-looking female in the room!" Value is now through the roof - and the price hasn't changed once!
He had built the value so high that I was ready to purchase the product by the case - and I didn't care how much it cost!
Our good friend Don Hutson says, "When a person says no or gives you negative feedback, all they are usually saying is, 'Based on what you have told me so far, the value of your product, service or idea does not seem great enough to cause me to take positive action when compared to the price.'"
Ask yourself: Is my product over-priced - or under-valued? The answer may change your thinking. The solution will change your life.
is co-founder of the Gove-Siebold Group (www.gove-siebold.com), a training organization that
helps networkers develop world-class communication skills.