Price & Cost mean You have Already Lost

by Jeremy Powers on September 7, 2010

This article is from my July 29th newsletter. 

You can sign-up for my newsletter by clicking here.

 My wife and I are leaving for vacation today.  One way I knew we were finally going to take a break was when my wife asked, “What is there to do there?” rather than, “What will it cost?”  Anytime the early questions are framed in terms of “costs” rather than benefits or value I know I have an uphill climb.

Allowing the framing of any negotiation to be regarded as an expense to be managed, a cost to be controlled, or a price to be negotiated is a sure way to lose sales and profitability.

Every product (including services) you sell should be discussed as an investment for your customer.  The paperboy sells an investment in early morning information.  The replacement window company sells an investment in home beauty and energy efficiency.  The big-screen TV salesman sells an investment in family-time and reduced movie theater expenses. 

Controlling the framing of the issue of price is paramount to the success of sales.  Reviewing your ability to refuse to use words like price, cost, or expense is a quick way to improve your sales.  It is also a good way to gain new perspectives on what your business really sells.

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