Ever wonder what happened to your customer after giving them the price?
A 35-year car sales veteran turned web marketing consultant gives you some answers. Where did they go after getting the priceand tips to help you sell more?
If you’ve been in business for any length of time and have quoted a job, or on a product inquiry, then it’s likely you have experienced this.
Even after a 35 plus year career selling cars in the automotive industry, and now in my second life as the owner of Slocum Design Studio for eight years, I still ask myself, after giving the price, where did they go?
There’s a lot that goes into the buying process, after hours or sometimes days of research your finally ready to get the price on a product or service. You make the call or go online and get the price and then- silence.
What happened? The process came to an end. You researched, got the price, maybe even checked on how you were going to pay for it. Now it may be that you’re wondering if you need it, or if it’s going to make you more efficient or feel better, etc.
Even after the very best presentations, web design agencies refer to this has discovery sessions. After giving the price, you may be faced with the disappearing customer. Not much you can do about that. However, you can do your best to understand the physic of selling and do your best explaining your product or service.
Not just features and benefits?
It’s important to establish what information or content in the case of your website was given to the potential client. Meaning how well did you communicate with the customer in his or her discovery process. Price isn’t everything, while customers tend to focus on the price it’s important to understand that most often your customer is trying to justify spending the money on whatever it is your selling.
Somethings that come into play at the shopping stage that later causes the pause or the client going away entirely can and probably should be addressed at the time of the sales process.
Asking the customer to make comparisons between products or services
Research from Standford Business has shown that asking consumers to make comparisons with other services or products can lead them to buy the less expensive one. Have you ever held to products in your hand at the pharmacy, one a brand name the other a generic and boom you put the less expensive one in your basket?
Selling the experience, what would it feel like working with or owning a product like this?
Let’s for the moment assume you’re a photographer, wouldn’t it be nice working with Photoshop or On One? These are two software packages that photographers know well. The point here is that working with either one of these software packages will save you time editing images. So, in that case, your selling time over money.
Kissmetrics makes a point; Marketers need to start being aware of the meaning that their products bring to the lives of their customers before they start focusing their marketing efforts. Again, the reference to how my product or service makes you feel. This emotional selling was a central focus in the auto industry and why many effective consumer marketing campaigns focus on experiencing, rather than possessing, a product. Jennifer Aaker: The Happiness-Time Connection
If you introduce this in the sales process, online or on the phone, it may help when it comes to the buying decision and to whether or not you’ll hear silence.
I think we can agree that you expect to pay more for a shirt at Nordstroms than you would form TJ Max. Richard Thaler in a price experiment tested this theory.
In his comparison, he compared buying a beer at a high-end hotel versus buying a beer from a local rundown grocery store. People were not happy paying the same price, even though the posh interior in the hotel had nothing to do with the quality of the beer.
Another case study on price from Robert Cialdini’s Influence, where he discusses jewelry that was accidentally priced at double its initial selling price. Was perceived to have high value by the store’s shoppers.
So then what are some reasons why they go silent after receiving the price?
Cash flow or budget issue.
For some people, it’s a cash flow issue or a budget issue. Most often people don’t put the time into accessing their finances before learning about the price of a product.
In review, the product or service is not a good fit.
Some products, and primarily services the client needs to learn from the seller- what it is and how does it work to establish if it’s good for them.
It’s too expensive.
It’s too expensive when compared to another car, another paint, another session, or another website, etc. This could cause the pause.
ROI, (return on investment)
Very often this comes up in my business when the client asks the question or makes the statement will I get a return on my investment. I understand this question, in fact, it’s very logical and maybe in review this maybe something that causes people to pause or go away entirely because they couldn’t justify the price in relationship to ROI. I always take the time to show examples, case histories, etc.
What will people think?
In the car business, this was huge; it seemed everyone had input, neighbors, friends, family, and co-workers. Cars become part of your personality a personal connection, very often I would hear, oh no that’s not me. Like a Chevrolet Suburban is not you, or a Camaro is not you? This is more common with big purchases, but it’s certainly appropriate with clothing, hairstyles, etc.
Too many choices, and not one good one.
A possible reason for crickets might be due to you showing your customer too many choices, a significant factor in the car industry that many sales trainer caution. Show them one or two, maybe three the max… any more than that and in most cases your customer will leave saying I’ll talk it over with my wife or whomever and get back to you. Gone. Could this apply to what you’re selling? If so keep it simple, don’t introduce too many products or services.
There’s more for sure, but I think by now you get the point. Prepare yourself when going into the selling process, you should take the time to know your customer. What he or she does for a living or likes to do for a hobby. When it comes to your website the same applies, know your audience. The more you know, the better you’ll overcome objections, and hopefully, you won’t cause the pause.
You can reach Mark, here on LinkedIn, or by visiting his website Slocum Studio.