The first thing most customers want to talk about is price. But it is probably the last thing that matters.
When I was early in my sales career, I was trained to ask the customer about their budget. My mentor suggested I qualify the customer by asking questions like:
“What were you hoping to spend?”
or
“How much do you need your monthly budget to be?”
I still hear it among salespeople. It makes me cringe.
What will the customer’s answer be? “Less than what I’m paying now.”
“No more than $XXXX.”
“As little as possible.”
Let me clarify:
Don’t EVER ask the customer any of those questions! You’re only making your job harder, if not impossible if you do.
When you made your last major purchase, did the salesperson ever ask you how much you wanted to spend? Probably not. A good sales process might look like:
A – Approach with a personalized, warm welcome
P – Probe politely to understand all of the customer’s needs
P – Present a solution for the customer to take home today
L – Listen for and resolve issues or concerns
E – End with a fond farewell and invitation to return
During the Probing portion of this sales process, the salesperson asks questions about how the product fits into your life. For example, how frequently will you use it? Do you have any preferences? Any specific requirements?
These questions will help the salesperson present the best solution for you.
Sure, the price will eventually come up. But not before the salesperson thoroughly understands your needs.
A proper needs assessment might reveal many more important requirements than price. Here’s an example list a customer might share:
- Needs to be durable
- Should be easy to maintain
- Has to be user-friendly
- Should have a sleek design
- Must be lightweight
- Should come with a warranty
- Must have good reviews
- Needs to be the latest model
- Shouldn’t be too technical
- Needs to fit a certain space … and the list goes on.
If a salesperson can present a product that meets most of these requirements, wouldn’t that make it the ideal choice?
Too often, salespeople focus only on the price. By doing so, they might overlook the customer’s other needs. It simply shows that they weren’t actively listening.
Like in a top-tier retail store, your job is to understand the customer’s needs and offer a product that meets them.
Adopt this mindset:
“Mr./Mrs. Customer, I understand you’re on a budget; we all are! Trust me to handle that part! We’ll work together to find the perfect product for you.”
Continue to engage and build rapport to comprehend the underlying reasons behind their preferences.
There are smarter ways to gauge your customer’s budget without bluntly asking. We teach these techniques in our MasterClasses and during in-person training sessions. Join us and elevate your sales skills.
Your customer wants to buy. He needs you to help him believe.
