A common junction sales professionals cross everyday, would be how do I entice my prospect with my offer. We have heard of the 7Ps and 4Ps marketing mix. It is a key tool for the marketing team but what is a good sales mix that excites a prospect.
The right product, people and price will get you that extra excitement from prospects. But where is the line you cross to say that you have all the 3 key factors right?
Let me break it down for you:
Essentially all businesses need a sales team. A sales team equipped with strategic skills. Experienced sales professionals with good track record and excellent knowledge about your products or services. They are your front liners, your brand ambassadors. They have to carry the brand with pride and understand the concept of selling.
Product or Service
I often say, conviction is half the sales done. So, assuming you do have a great product or service, how do you make it stand out from all your competitor. Here is the secret; features and benefits selling.
Simply, a good warm up at the beginning with the prospects will help to point out what are their needs and trigger buttons. It will also allow you to cater your pitch with the right features and benefits; a selling angle to suit your prospects.
But what if you are not sure about your products or services? Then go back to basics, do a market research. Find out what is your market share, if your product is still current, and most importantly, what are your competitors doing.
You have the right sales professional on your team and awesome product or service but if you don’t strategically price it, there will be no effect on sales productivity. There is no right way to price but of course, some thinking will be needed.
Selling it too cheap will only be disastrous and could be perceived as not being good enough. At the same time, you cannot be over pricing. Prospects will always compare prices and they always have an idea how much they are willing to spend.
Imagine you are the prospect.Ask yourself what will be a fair price for your product or service. Bearing in mind, the price you put on your product or service, will eventually affect your market share and targeted revenue.
So, there you have it. A piece of jigsaw with only 3 pieces that could affect your ultimate numbers.