0042 – How to Sell High Priced Items

“In this episode…”

We’re discussing the perils of selling high cost items. How do you get someone to buy things that cost alot of money?

Teaser Bullets

  • Tips on how to approach high cost sales
  • Selling high priced products online
  • Three keys to selling high priced products
  • Handling objections to your high price

 

  • How to Sell High Ticket Items in a Dwindling Economy – http://www.copyblogger.com/selling-expensive/
    • Show Them How Much Money They’ll Save – And that doesn’t mean putting some puffed-up value on a simple e-book or adding a copious amount of zeroes to the end of a dollar sign. Put into real, concrete numbers how much someone might spend looking for and buying all of the services or pieces needed to get something comparable to what you’re offering.
  • Drayton Birdhttps://twitter.com/DraytonBird
    • How do you market an expensive item? – http://www.marketingdonut.co.uk/marketing/marketing-strategy/how-do-you-market-an-expensive-item-
      • Continually qualify your prospect – Every so often, politely ask your prospect whether they’d prefer if they didn’t hear from you again. This not only saves time and money weeding out duff prospects. Another real advantage is forcing your other prospects to ask, “Are we interested in what you have to say and offer? Naturally, when you do this, you get more people than normal asking not to hear from you again. But at the same time you get more people letting you know their intentions and where they are in the buying process.
  • Samuel Junghennhttps://twitter.com/samueljunghenn
    • How To Sell High Priced Products On Your Website – http://www.thinkbigonline.com/how-to-sell-high-priced-products-on-your-website/
      • Rule #2: A Lead Is Better Than No Lead
      • Not all websites are designed to generate sales, sometimes it’s best to generate a lead rather than generating a sale.  If you’re selling a complex item at a high price then you may need to generate a lead for you to call and follow up rather than a straight sale.
      • Don’t disregard a website because you can’t generate an online sale, you’d be amazed how many leads you could generate, and with a high priced product you don’t need to generate many sales to cover your costs.

 

  • Brett Welchhttps://twitter.com/brettw
    • Never Too Expensive: A Guide To Selling True Value – http://www.businesscatalyst.com/bc-blog/never-too-expensive-a-guide-to-selling-true-value
      • Expectations. Your expectations about a product and it’s price or quality are shaped by your experiences with comparable things.
      • Image. The look and surroundings of a product affect the perceived value of the product.
      • Words. The words and attitude you and your customers take when describing the product affect the perceived value of the products.
      • That’s it. If people are saying you’re too expensive, then you’ve messed up on one (or all) of the above three.
  • Jim Connollyhttps://twitter.com/ThisIsJimsBlog
    • How to sell ANYTHING! – http://jimsmarketingblog.com/2008/11/03/how-to-sell-anything/
      • If you are finding it hard to sell something, the temptation is often to lower the price, especially during a tough economic climate.  This is almost always a REALLY bad idea! Ironically, when we speak with buyers we find that price is not primarily what they base their buying decision on!  We find that quality, support, utility and backup are ranked higher than price.
      • Fourthly, review your marketing material. – Take a look at your marketing material, everything from; your sales letters and advertisements to your website, blog and any marketing emails you might use.  When you read them, does every sentence and every paragraph pump value into your products and your business?  If a potential client reads your marketing, is it going to motivate them to take action, call, email or meet you?  Is someone reading your marketing material going to feel compelled to call, meet or email you?  If the answer is no, you are losing a fortune in sales.
  • David Brockhttps://twitter.com/davidabrock
    • “But Your Price Is Too High” – http://partnersinexcellenceblog.com/but-your-price-is-too-high/
      • When the customer say, “Your price is too high,”  the first thing we need to do is understand the basis for the statement.  Why do they think the prices is too high?  Are they just saying it because they are obligated to saying it?  Are they comparing your pricing to competition?  Are they comparing your pricing to something else?  To make that statement, the customer must have a basis for it.  Our job is to probe and understand that basis.
      • The customer must have a clear basis for making a choice, we have to give that to them, we have to make sure they demand that from everyone they are considering. Don’t let anyone take the easy way out by saying, “They are all the same, it’s just a matter of pricing.”  The alternatives are never the same—even in commoditized products.  Risk, vendor stability, vendor confidence, relationships, vendor reliability, quality, and the list goes on.  Nothing is ever the same.
  • Wim Wilmsenhttps://twitter.com/SalesSells
    • “You Are Too Expensive” – Eight Ways To Handle Price Objections – http://www.salessells.com/selling/handle-price-objections/
      • Explain what you don’t charge for

      • The customer might change his opinion about your price as soon as he realizes what he’s not paying for e.g. time spent on planning or implementation.
  • Jamie Adamshttps://twitter.com/JamieWetLeisure
    • Marketing an expensive product – http://wetleisure.co/blog/marketing-advice/marketing-an-expensive-product/
      • Once the sale is made then, in this market, the job of marketing is far from over.
      • Recommendations and referrals are the most powerful tools when selling expensive items so you need to make sure that the customer is delighted with both the products and the service that you have provided.
      • If you can offer to keep them informed of any innovations or up-grades that might appeal to them, relevant to the purchase they have just made, then that gives you a chance to keep in touch. If you keep in touch and keep looking after them then you’ll stay front of mind and they will mention your business to their friends.

If you have any comments or questions, or just want to tell me that my face looks funny, you can do so in real time by sending a message on Twitter to @ideatoopen, or you can shoot me an email at info@ideatoopen.com.

In Closing

In closing, on behalf of myself, Elijah R. Young, and everyone involved in bringing this show to your ears, we hope you can move your idea one step closer to being open.

We’ll talk soon.  

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