From the course: How to Sell on Value, Not Price
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What is value?
From the course: How to Sell on Value, Not Price
What is value?
- Warren Buffet says, "Price is what you pay, value is what you get." So value is the difference between the price you charge and the benefits the customer perceives they'll get. Now, that perceives part is key to all of this. The value is in the eye of the buyer. So it's pivotal that you help the prospects see those benefits and that they perceive enough of it to warrant paying the price you are asking 'em to pay. More benefits and less price is high value and therefore a winner. Less benefits and more price, that's low value and therefore destined to fail. That is what prospects are saying when they tell you your product or service is too expensive, they're giving you the price objection. In their mind, the benefits do not outweigh the price. So we need to push benefits more, which is hard because benefits are subjective. Some things may be benefits one person and other things may be benefit to another. So it's key…
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