Note: Special Free Download Link Provided at the end of this CRM Tip. Enjoy!

One of the greatest concerns of business owners is how to price their products or services. Often, consumers say, "Well I would buy it if it were in my price range." And, that idea tempts many business owners to lower their prices--just to sell more products.

However, as you already know, price reductions sometimes create more problems than they solve.

For example, price reductions:

Decrease net profits
Lead to the purchase of lower quality products
Increase customer demands to drop the price even lower!
Require even more sales to make up the difference in revenue
Need a larger quantity of products

And, in the end, as John Jantsch (author of Duct Tape Marketing) says, "There will always be someone willing to go out of business faster than you."

Remember this: price is not a benefit. Selling is not determined on the cost of your product. If you truly "sell" your customers and prospects, they will purchase your products/services no matter what price you determine.

If a customer or prospect doesn't buy...and they claim the cost had something to do with it...you can guess they probably wouldn't have purchased anyway.

Probably it is more accurate to say, "That you have not done your Job of finding the correct benefit, to satisfy their need.".  To do that you need to establish Rapport, and Rapport leads to Trust, and then you can get to the real issues, that will help you determine the needs of your prospective customers. 

NO NEED, NO SALE!!!  It is that simple.

As a marketer, your job is to sell your products and services. The actual art of selling has nothing to do with the price of the product. By the time your contacts find out about the price, they should be determined to purchase no matter what the cost.

So, find "real" benefits (value) to sell to your customers and prospects.(These "Real" benefits will usually always solve a problem or satisfy a need.) Help them to see how great their life is with your product, and make them feel good about that, and you've got a customer. Point out their current pain, and your contact will do anything to get rid of it.

Set your prices and hold fast. If you've marketed correctly, you will still have customers anxious to do business with you!

As a Bonus this week use this link to gain access to three articles that will help you in the Sales Process.