1. Justification Rule #1: The more you differentiate your product, your service and yourself from competition, the less price sensitive prospects become—and the easier it is to justify your price.

2. Justification Rule #2: The less you differentiate your product, your service and yourself from competition, the more price sensitive prospects become—and the tougher it is to justify your price.

A. How does your product knowledge, professional appearance or proficiency at the sales process differentiate you from others in your field? Do you ask the right questions? Do you really listen to the answers? When you present the product, do you focus on what the customer is truly interested in, or do you dump too much information on them and hope they sort it out? If you do a better job of getting the prospect to buy into your character and competence, you’ll have an easier time getting them to buy into what you’re selling and its price. You must find ways to differentiate yourself from every other stereotypical salesperson in the marketplace.

 

B. What real advantages does your product have over the competition and do you know enough about it to communicate it effectively? Your product’s advantages are worthless if you don’t now them or do know them but can’t communicate them effectively. The key to selling against the competition is to investigate and determine what the prospect’s hot buttons are: performance, appearance, economy, etc., and then comparing your product to the competitive product in those specific areas of the highest customer interest. Comparing everything your product offers to everything theirs offers is exhausting, confusing and largely irrelevant to the prospect. Few products can withstand the scrutiny of a line-by-line comparison. Determine the prime buying motives, and compare against those lines. This raises your product’s value and, as a consequence, justifies price.