Isn’t blogging great? I’m actually on a plane right now (traveling Internationally, yet I just pre-set this post to show up!)

Since we’ve been talking about sales the last couple of days, I thought I’d keep the trend going by discussing “pricing” - obviously a highly influential matter when you’re trying to sell someone.

One of the problems I used to have was that my initial reaction to an objection was to think about reducing the price - as a matter of fact, I would reduce the price sometimes before even talking to the prospect!

What I have learned and you better learn is that price is not always the biggest deal - I’ve found that if you can sell someone at $10,000, you could have sold them at $15,000 (most likely). An objection (most of the time) won’t go away just because you drop the price, you have to get to the root of it using the 3 sales techniques I revealed a couple of days back - listening can really help.

The other problem that seems to happen a lot is what I call the “price war.”

The price war takes place between companies that are fighting for the same customer with similar products. Bottom line, it can get rediculous.

Should you be irrational in your pricing? No, of course you have to price competitively, but there are ways to get a customer rather than price (and they are far more beneficial).

Think about this for a minute… 

Starbucks…you and I both know that you can get coffee TONS cheaper at dozens of places (they are probably much closer to you too), but you still go to Starbucks, why?
* Had Starbucks tried to compete of pricing, they wouldn’t exist today.

Mercedes/BMW - Honestly, half of the features that are “premium,” you never use and you know that when you’re buying the car. There are tons of cars that can perform the same or better and are half the price, then why?

Coke/Pepsi - Are you telling me that just because one is 10 cents cheaper, you’ll buy that one? I doubt it, by now I am positive you have your preference of which one you buy.

Pricing can only take you so far - if your entire business is based on price war, you’re going to go out of business soon. Find something else to hook your customers in, here are some ideas…

- Customer Service (ex/ Nordstrom)
- Quality
- Customer Experience
- Product Variety
- etc…

Think about your business right now and figure out what unique aspect you can focus on.

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