Memecast #20: Two Reasons You Lose Deals

When we asked salespeople why we lost the deal, almost always, we got the answer, it was the price. Maybe they tell us it was a feature that we didn't have, but the price was a big deal. And the price is always a big deal. It turns out that yes, you can probably lower your price low enough that you could convince any buyer to buy your product.  But that's really not the point of sales. What we want to be able to do is make sure that. Our buyers understand the value of our product, what it is that we're offering. And if our buyers understand that we offer so much more value than the price we're asking for, they're willing to buy.  So the problem may be that we're not doing a good enough job at communicating value. Or the problem could be the product just doesn't have enough value. Have we built products that people really value? And can we communicate that to individual buyers?  So they're willing to part with their hard-earned money in order to gain those benefits. "There are two reasons for every loss sale. One, price was too high to the buyer. Two didn't expect to get enough benefit. Don't just blame price." - Mark Stiving So the problem may be that we're not doing a good enough job at communicating value. Or the problem could be the product just doesn't have enough value. Have we built products that people really value? And can we communicate that to individual buyers?  So they're willing to part with their hard-earned money in order to gain those benefits. We hope you enjoyed this podcast. If you see have any questions or feedback please email me [email protected].  Now go make an impact. Connect with Mark Stiving:  Email: [email protected] LinkedIn