Speaking with a client today about what would really clinch them purchasing one vendor over another, it came down to that dirty word: price.
Why do we hate the topic of price so much? Is it because we see the other factors involved in buying decisions as variable whereas price is often ‘stuck’ and unchangeable.
The last post dealt with whether price was the all important factor however this ‘musing’ is more about discovering when it is ok to walk away. If the customer cannot see value in what we do, and even when asked bluntly cannot offer any other factor which would be more important in the buying decision than price, then we need to critically assess whether this is a customer who we can work with and deliver value.
There are many sales training manuals that would say that the salesperson needs to discover the pain point for the customer and then demonstrate value. And yes, that is correct. But there are some customers who will only ever buy on price and success is obtaining the lowest possible capital purchase price from suppliers.
This usually runs the risk of clients developing tactical and non-strategic relationships that cost more in the long term.
Good quality sales training can only do so much, customers also have to see value in partnering longer term.