It's not unusual to find salespeople who think price is more important than other factors when it comes to a customer making a purchase decision, especially when that salesperson is a price-buyer in his or her personal life.
2 Reasons Why Price-Buying Salespeople Will Kill Your Margins
1. Price-buying salespeople project their feelings onto their customers.
Projection is the word psychologists use to communicate the idea that people transfer (or impute) their ideas, feelings and emotions to others.
The same as a salesperson who says, “I’m just like anybody else, I put my pants on just like anybody else,” he/she also says, “I’m just like anybody else. I buy on price. Therefore, I know my customer buys on price.”
But that is faulty logic.
Just because YOU buy on price doesn’t mean that your CUSTOMER buys on price, any more than just because you are a good driver means your customer is a good driver or that just because you put your pants on, left leg first, while sitting down, means that your customer does the same thing. Maybe they put their pants on right leg first, standing up.
Just as I can easily think of four different ways people put their pants on, I can think of at least four different motives that people have to buy something. Price is only one of them.
Projection means, in essence, it takes one to call one. It takes a price-buyer to call a price-buyer, and studies show clearly that price-buyers “see” (at least they think they “see”) a lot of price-buyers. But that is because all buyers look like price-buyers to a price-buying salesperson.
Price-buying salespeople tell the customer they think their prices are too high and invite them to beat them up on price.
2. Price-buying salespeople indicate to the customer they think their prices are too high and invite them to beat them up on price.
It is literally true that salespeople who think their prices are too high and “know” in their heart, gut and brain that the customer can “get it cheaper down the street” will indicate this to their customers.
They do this as much by things they don’t say and do, as by things they do.
Many times, especially in the case of big-ticket items, salespeople literally can't believe that their prospect or customer would pay, say, $1,000,000.00 for their product or service. Consequently, they indicate, either verbally or nonverbally, that they simple don't believe in their price.
Another outcome of such a mindset is that they avoid talking price altogether until they absolutely have to. This invites the customer to beat them up on price as well.
How do you overcome this challenge?
Explain to your reps that your existing customers pay good money for your products or services, and for good reason. Share solid client results with them demonstrating the value - and difference - your product makes for those clients.