When I ask, “How do people save money by doing business with your company?” they usually respond with, “That’s the problem, Charlie. They don’t!”
That is a problem.
Until you can recite for me a list of at least 12 ways that consumers save money by doing business with your company, you have no right to complain about the price objection. If you can’t tell people how they save money by doing business with your company, how can you expect your customers to do it?
You’ve got to convey “quality” to customers in such a manner that you also convey that:
Instead of saying, “We’re not the cheapest, but we’re the best,” you’ve got to believe and say, “For what we do, we’re the cheapest in town.”
MAKING A LISTYou need a list of the benefits of doing business with your company. This isn’t a list of all your company’s grand achievements or why it’s a great place to work. It’s a very real, very down-to-earth list of the benefits of doing business with your company. It contains items that, number one, very few — if any — of your competitors do. Number two, the list will relate to the consumer looking to spend the least amount of money possible.
Actually, if you do quality work, if you show up roughly when you say you will, if you warranty your work and actually honor the warranty, you’re in the minority. People probably do save money by doing business with your company, because using some fly-by-night company or one that doesn’t honor its warranties or stand behind its work is usually a total waste of money. So, any money spent with you, regardless of any difference in price, is probably well spent.
FEATURES VS. BENEFITSYou’ve got your basic “features” and you’ve got your basic “benefits.” Most salespeople are pretty good at listing the features of their products and the reasons for doing business with their company, but what they’re weak on is translating the benefits of each feature, and conveying those benefits to the consumer. Benefits are what you sell, not features.
When people reject your offer due to price, at that moment all they’re taking into consideration is the money, and there are a number of additional factors to consider. By spelling out the benefits of doing business with your company using simple, precise wording, you’re helping them organize their thoughts so they can make the right decision.
That’s why I say that a good closer is not someone who’s good at pressuring people into buying, but is good at helping people make decisions.
That’s not just a word game. The truth is that most people have difficulty in making decisions. Most people have difficulty in making commitments. Most people do not have a decision-making procedure and, unfortunately, most people have difficulty maintaining a concentrated thought process.
Most people have difficulty ordering off the menu in a restaurant or selecting a video to rent, let alone selecting a home comfort system provider when several thousand dollars is in question. Remember that next time you attempt to close a sale.
Patiently reviewing with customers all the positive reasons for them to put their faith in you helps them to make the right decision — a decision based on features and benefits, as opposed to a decision — probably the wrong one — based purely on price.
There should be at least three dozen ways people save money by doing business with your company, so step number one in becoming a Master Closer is to draw up that list.
I’ve already provided you with about two dozen or so features and benefits that can be used for most companies in the chart above. You’ll notice that some of them contradict each other (such as reasons to buy from a small company, as well as reasons to buy from a large company). Pick the items that apply to your business.
It just goes to show that you can “sell” anything.
It’s up to you to finish the list. Remember, don’t just come up with a list of facts about your company. Come up with a list of facts and benefits that will relate to the consumer who is looking to spend the least amount of money possible.
Type up this list and distribute it to all techs and salespeople. It also can be formatted as an effective “leave behind.”
Practice that list until you can repeat it backwards and forwards without taking a breath, and you’ve taken the first step toward surviving the replacement sales game.
In my next article, I’ll demonstrate exactly how you use that list to overcome objections.
Greer is the owner of HVAC Profit Boosters Inc. and the instructor of the “Sales Survival School” in Ft. Meyers, FL. For more information, call 800-963-4822 or visit www.hvacprofitboosters.com (website).
Publication date: 10/21/2002