Does Confidence in Price and Product Rob You of Sales?

Did you know that one of the biggest reasons salespeople aren’t as successful as they could be is because they simply lack confidence in their product? Even more, it’s that they lack confidence in the price they’re asking for their product.

This is a real barrier for a lot of salespeople and the way they attempt to get around it is by offering discounts to the prospect when faced with objections. Because they’re so lacking in confidence in their price or product, they have convinced themselves that that’s what’s standing in their way of success.

The truth is that if a salesperson has confidence in their price and product, this confidence will actually help you gain sales. The question is, as a salesperson, how do you gain this confidence?

If you lined up 10 highly successful salespeople and asked them to name five reasons for their success, the answers you would get would be far ranging; from treating every sales meeting like it’s the first meeting of the week to just having a conversation with the prospect. You could easily come away with thirty or forty different answers. But I’m confident that one thing you would find in common with each of those ten salespeople that they would say is a reason for their success is product knowledge.

Why? Because having strong product knowledge does two things for you as a salesperson. First, it gives you the knowledge that you can meet any variety of needs prospects have. If you have a very thorough knowledge of your product (or service), there is virtually no need a customer can present that you don’t have a solution for. Second, and equally important, is the better you know your product, the more confident you are in your ability to talk about it, in your ability to come up with solutions.

The second thing that affects your confidence in both the price of your product and the product itself is your preparation beforehand. Preparation comes in the form of knowing the competition and knowing how you compare. Comparing and contrasting your product to your competition is absolutely one of the best tools any salesperson can have in their arsenal and preparing yourself with knowledge about your competition is your ammunition. Other ways you can prepare are by understanding how price affects purchasing decisions, and practicing tailoring product solutions to specific customer needs.

The third thing that can rob you of confidence when it comes to pricing and products is your own belief in the value your product. It’s a well-known principle in sales that the worst salesperson is the one who has no confidence in their own product. If you want to be successful at selling, you must understand and believe that you have the very best to offer within your industry. If you don’t believe this is true, no amount of selling skills will overcome your lack of conviction and confidence. If you’re lacking confidence because you aren’t convinced you can offer prospects the very best product, you need to have one of your company’s best salespeople or your sales manager sell you on why your product is the best. If you do this, notice their communication style while they’re talking about your product. Are they animated? Sitting on the edge of their chair? Does their voice get a little louder? These are all signs that they aren’t just blowing smoke. They are truly convinced that you and they are selling the best product.

Confidence in your price and product are essential to sales success and you need to be honest with yourself about it. Are you going into every sales meeting with 100% confidence or are you trying to “fake it ’till you make it.” That rarely works, by the way.

By having true confidence in your pricing and your product, you will be more convincing to your prospects and your opportunity to win the sale will increase greatly.

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