V=WIG/P. Value equals What I Get divided by Price. If I can get more for the same price or get the same amount and pay less, it's a better value in either case. In this video, learn how the principles of liking, reciprocation, and consistency affect the value equation.
- You made a great presentation.…You were prepared, hit all your selling points,…and even raised some concerns before the prospect did.…When they came to you with more,…you were ready to handle them…because you're comfortable handling objections.…So now it's time to negotiate.…As a salesperson, you'd love to get your asking price…with no further negotiating.…But your prospect would like to get…your product or service for as little as possible.…Hopefully, you can agree on a mutually acceptable price…between those two parameters.…Rather than simply cutting your price,…you need to focus on selling value.…
What exactly is value?…Value is one of those terms that can mean…different things to different people.…But I think we can give it some shape.…To understand value, consider this formula.…V equals WIG divided by p.…Value equals what I get divided by price.…If you can get 100 items for 10 dollars,…then according to our value equation,…your value is 10.…Let's say some time passes,…and now you can get 120 items and the price remains 10.…
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- Reaching out to prospects
- Developing a rapport with customers
- Making a good first impression
- Giving a successful presentation
- Providing the correct amount of options
- Handling objections
- Understanding the value equation
- Closing the sale
- Asking for referrals