Your product is perfectly aligned to meet customer needs.
Your doors are open, the sales team is ready, and your marketing is top-notch. Your employees believe in your mission and are passionate about coming to work each day, but . . . sales still seem a bit sluggish. Why? When people aren’t buying, you could have a range of possible problems.
Here are four potential snags with tweaks that could make the difference:
Problem: They Think the Price is Too High
Solution: Sell the Value
Is the price of your product too high?
This is a subjective opinion. An item is only worth the price someone is willing to pay for it, and if some people are willing to pay your price, there must be a good reason.
If you don’t make the cheapest product on the market, it’s your job to figure out why it is worth more. Do your homework. Find out in advance what your competitors’ prices are like, and what advantages your company brings. Instead of focusing on price, draw attention to the benefits of your service compared to competitors. Your product quality or customer service may be the major differentiator that cannot be replicated!
Whether it’s convenience, bundled service options, or incredible durability, price-sensitive shoppers are willing to pay more if they just know WHY.
Problem: Decision Paralysis
Solution: Simplify the Process
Some people never master good decision-making skills.
Marketers often assume that the more choices they offer, the more likely customers will find just the right thing. However, research shows that there can be too much choice. When there is, consumers are less likely to buy anything at all (and if they do buy, they are less satisfied with their selection!).
Decision fatigue is real, and it causes many consumers to give up on purchasing. To circumvent this problem, list customer “favorites” on your website, combine items into a small number of “value-bundled” packages, or have customer service representatives walk people through decisions so they can make suggestions on the most suitable products.
Problem: Lack of Reviews
Solution: Ask Existing Clients for Testimonials
According to Nielsen research, 92% of people will trust a recommendation from a peer, and 70% will trust a recommendation from someone they don’t even know.
People depend on reviews, and companies that publish testimonials dramatically increase the quality and quantity of their leads. Reviews not only help buyers make purchasing decisions, they also grow traffic and boost conversions.
To gather (and print) great testimonials, it’s important to ask clients for reviews directly, especially if you can do it face to face. People are easier to engage when they feel their opinion is valued. Instead of asking directly for a review, start with an open-ended, conversational approach. Try questions like, “what was it like before you had our product/service?” or, “what has exceeded your expectations since working with our company?” Testimonials will naturally flow from here.
Problem: Stopping Short a Sale
Solution: Ask for a Clear Commitment
When surveyed after non-sales situations, a high percentage of prospects say they were never asked to buy.
After pitching your product’s vision, benefits, or value, it’s time to take that ball to the hoop. Ask for a commitment. Clearly, concisely, and directly ask for their order, their money, or their business.
No matter what phrase is right for your business, the bottom line is this: you must ASK!
Simplify for Success
In a world that’s rife with competition, it’s crucial to pinpoint areas where your sales process is breaking down. Make the process from discovery to purchase as simple as possible, and don’t be afraid to close the sale.
In life and sales, sometimes you’ll only get what you dare to ask for!