From the course: Persuasive Selling
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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's 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, then according to our value equation…
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