Selling: What’s Your Budget?

Selling: What’s Your Budget?

The Second Most Important Question.

After you’ve figured out “why” your customer needs your product. You need to make sure they’re not going to be sticker shocked when you present your product to them. Each customers budget is going to be different and that’s ok. Some people are looking for the Ritz Carlton service, others just want a clean bed and a semi-soft pillow. Understanding where your company fits into that spectrum is important. Which means knowing which type of experience your customers are looking for is important because that gives a baseline for what their budget should be.

It’s OK if they don’t know!

Most of the time your customer wont know, or worse, it’ll be insultingly low. It’s not always because your customers are cheap, although it might seem like that. It’s now your job to sell. But don’t just overwhelm them with how great you are. Ritz Carlton isn’t marketing how they have bell hops that great you with a smile and joyfully carry your bag. Mercedes doesn’t showcase their soft leather waiting chairs and free drinks and cookies while your car is being serviced. But they do have something in common. They demonstrate that service from the time you set foot in their business. From the joyful concierge to the actually helpful and pleasant salesmen, the focus on one thing. Providing value. Because they do this so well they’re able to charge a premium. Do their cars or hotel rooms cost more? No. Are they more valuable to their customers? Absolutely

But how do you communicate that value? Start with showing your customer that you’re willing to go above and beyond what they expect. Provide them something that has value and doesn’t require them to buy something. Something like a blog with helpful advice on selling. 🙂 But at some point you’ll need to get them to buy something, after all you’re not doing this just because you’re bored. That part gets a little trickier. It requires breaking down the value you’re getting without sounding like a sales pitch, and that can be tricky. In order to do this well you need to give your price context, and that requires a little more work. Don’t worry tho, we’ll be here to help you get through it.