Maximizing Your Price in a Soft Economy

Establishing maximum value for your price is never easy. In today’s volatile economy, it’s even more of a challenge. For most companies, costs are increasing, yet the ability to pass them along to the customer is fraught with numerous roadblocks. The customer’s response to a price increase is rarely positive, with the usual line of objections that go along with it. In addition, there are the concerns that a competitor’s price may undercut yours or that the customer may choose to go down a different path instead of buying from you at all. As big as these issues are, they pale in comparison to the number one roadblock to maximizing your price point: the confidence of the salesperson.

The main reason why companies do not capitalize on their potential revenue is because their salespeople do not have the confidence to ask for and receive the highest price point. If a salesperson is secure in what they are selling and in knowing how the customer will benefit from their products/services, then they will be confident in asking for and getting the desired price point. The problem is that many times the salesperson lacks confidence in at least one of these areas, resulting in their inability to make their sales quota.

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Maximizing Your Price in a Soft Economy