WHAT’S THE REAL VALUE OF YOUR PRODUCT OR SERVICE TO YOUR PROSPECT?
Your prospect has a perceived value of your product or service when you first introduce it to them, and it is up to you to raise that price perception as high as possible, and as quickly as possible.
Before I show you how, imagine this situation:
You are in the middle of the desert, 150 miles from the nearest town, and you have run out of petrol.
If you try and walk that 150 miles, you will definitely die, and the chances of another car, lorry or someone on a camel picking you up is zero.
But if someone did happen to drive by, absolutely refused you a lift, but offered you a tankful of petrol, how much would you pay for it?
I am quite certain it would be many times more than you would pay for it at a filling station in the centre of town.
Under those circumstances, the perceived value to you is massively higher than the centre of town price.
So how do you raise the perceived value of your offering when selling?
Here are a few questions you could ask when you have identified a problem your prospect has, and to raise the perceived value of your product or service:
How much longer can you afford to have the problem go unresolved?
How much will it cost you if you do not do anything about it over the next 6 months?
How much more productive could your people be if the problem did not exist? (Followed by) Can you put a financial value on that?
Who is ultimately responsible for dealing with this or the impact of not dealing with it? (If it is them and they are not the boss, they could possibly lose their job).
How does the problem affect your customers? (Followed by) Do you lose any as a result? (Followed by) Can you put a financial value on that?
How might the problem affect your prospective customers and your sales teams ability to sell?
Could you see this problem giving your competition an advantage over you?
If you were one of your competitors, how would you take advantage of this problem you have?
Aside from my/ our solution, what is your alternative strategy to fix this problem, and what investment would it need?
There are of course many more questions you could ask depending upon your product or service, and your prospects problems. And sometimes you will only need to ask one to secure their business. But be prepared with several.