Price is a determining factor in virtually every customer buying decision process. But it should never be the single objection that prevents a sale. To get past the roadblock of cost, the best salespeople identify their buyer’s real purchasing needs and then articulate why their product offers more value than the cheaper competitor.

Value: Paying More to Satisfy Primary Needs

Sales language is filled with two-out-of-three clichés: It can be good and fast, but not cheap; or it can be cheap and fast, but not good. The point is that buyers usually have the option to spend less money — but they will sacrifice something in exchange.

If all other things are equal, the buyer should of course go with the lower price. It is up to the salesperson, then, to make the case that all other things are not equal.

Great Salespeople Articulate the Logic That Drives Purchasing

People spend more money for direct flights all the time. Why? Because their purchasing decision says there is greater value in not squandering a precious vacation day sitting in an airport waiting for a connection.

It is a logical decision, one that provides the value of speed and convenience, as well as the value of risk mitigation — the risk of a problem at the connecting airport.

What if a couple is having an addition built on their home while expecting a baby? Cost is of course a factor with a baby on the way. But isn’t there more value in the project being done correctly, being completed on time and being constructed in a way that won’t have to be repaired down the line?

Businesses are no different than travellers and homeowners. Genuinely important business decisions are rarely made on price alone. Like people, businesses want to feel good about a purchase and not experience buyer’s remorse after settling for rubbish just to save a few quid.

But on the other hand, you never want the customer to feel buyer’s remorse for spending too much on you — even if it means missing a sale. The buyer has to walk away feeling good. Reputation is more important than revenue.

Some salespeople are always talking about the one that got away because their price was just too expensive. The defense against this is preparation. The salesperson’s duty is to prepare for the barrier of price by identifying what is actually driving the purchase. Price is important, but not as important as value.