Anyone who works in sales has experienced that uncomfortable feeling when a customer disagrees with you, no matter how well you present your sales arguments.
A customer could be dissatisfied by a failure to meet delivery dates, poor product or service quality, making comparisons with the competition, or mediocre customer service. All signs that you’re customer is not going to buy. Assuming this is not the case with your business, the most common problem you’re likely to come across is that your customer or prospect questions the price of what you’re selling.
So, your customer says your product is too expensive… Here are 3 pieces of advice on the best way to react to this and build a lasting customer relationship. Let’s work this sales conflicts.
If your company can afford to do so, always reward your customers for their loyalty, e.g. by offering them a discount on their next purchase. However, when it’s the customer who demands a reduction as a condition of sale, think carefully before accepting.
You’re the one that knows the work that went into your company’s product. Approach the situation by demonstrating that the price reflects the value of what you’re offering. Explain in detail the benefits of your product range, and how it goes beyond meeting the customer’s needs because it was designed by a team of experts whose aim is to deliver excellence.
If you follow this approach your prospect will see that you’re not just trying to sell, but you’re also offering advice. This will help to smooth out tensions and create a more listening environment by inspiring trust.
In reality you’re inviting your customer (real or potential) to work with you. If you make sure you explain your sales arguments clearly, you’re showing you’re interested in building or maintaining a long-term relationship. This means informing them of new products or letting them know about changes in their sector – helping you to establish a unique position vis-à-vis the competition. Listen to your customer and provide detailed responses. Let them know you’re not just looking to close a sale quickly. That you understand you’re dealing with people – not numbers.
Learning to manage this type of sales conflict also requires a third element: a two-way commitment.
One the one hand, the customer who has accepted your price will show increasing commitment to your company. This is because your sales pitch convinced him of the value of what you offer. That customer will now come to you for future orders, share their experience of your brand with their contacts, and be glad they considered choosing you. From now on, you’re top of mind for them.
On the other hand, you need to maintain customer satisfaction. Record each interaction in your CRM, compare their requests with those of other customers and draw conclusions to improve your service. Study changes in your market and evaluate whether your prices are in line with your efforts in terms of innovation and exclusivity.
Have you ever been in a situation where a customer rejected your price because it was too expensive? How did you manage the conflict?
What other delicate subjects can affect a sales meeting?
Feel free to use the comments below to share your opinion and experiences.