Sell Value Rather Than Price
Sales strategist and leadership expert Meridith Elliott Powell discusses the importance of reframing the sales conversation around value rather than dollar signs.
Another day, another price increase. From macro trends like inflated costs for critical goods, to carrier providers passing down increased transportation costs to consumers, promo companies continue to contend with growing costs of doing business. At the same time, promo end-buyers have continued to push for more socially conscious and sustainable items as well as products made here in the U.S., which often come with a higher price tag than those made overseas.
Still, the rules of sales haven’t changed – to close more deals, have confidence in the value you provide rather than letting prospects and clients nickel-and-dime. It’s a waste of sales reps’ time and energy, and it gives the customer the impression that sales professionals are content with being treated like order-takers rather than respected marketing professionals.
While people naturally price-compare, sales reps must redirect the conversation. “If you’re selling on price, you’re not selling,” says Meridith Elliott Powell, a sales strategist, leadership expert, professional speaker, author and past speaker at ASI Shows. “You’re just filling an order. You have to help the client understand what they lose if they don’t buy this product and pay this price, and what they gain.”
In this episode of Promo Insiders, Executive Editor Sara Lavenduski speaks with Elliott Powell about the challenges of avoiding the price conversation, and the rewards of selling value and benefits rather than a specific dollar amount.