The number one thing I get asked to speak about at workshops and conferences is pricing. Pricing, pricing, pricing. When and how do I raise my rates? How do I present pricing on my website? Can I use dynamic pricing in my market/segment/field? The questions go on and on.
To provide answers, I pull recommendations from the millions I’ve sold directly to couples in the 15 years I’ve worked in the event industry and millions more in hospitality. I’ve researched/studied/learned about revenue management, neuroeconomics, buyer behavior, decision-making processes, and so many other topics. I know pricing better than most (but not as well as some).
But you know what I’ve found is most important when it comes to pricing?: The work that needs to be done before you give the number.
You can set a price to whatever you want, but if you can’t convince someone to pay it, you’re not going to make any money for your company.
Let me say that again but in a different way: You’ve got to create enough value to justify your price (and get them to trust you to deliver that value). If you don’t, couples aren’t going to buy what you’re selling– no matter how amazing it is.
Sales is a big topic and can be pretty overwhelming for anyone. What do you need to know? What’s the critical path? What should you focus on being really, really, really good at?
Here are my top 9 sales skills to master:
· Messaging perfect buyers on your website
· Moving people from email to the phone
· Forming a connection with buyers immediately
· Getting potential clients to recognize their own needs
· Listening for openings to create value
· Learning how people make decisions
· Shifting your way of communicating to match others
· Making the overall process a series of small, easy-to-accomplish actions
· Building trust early and often
If you do these things well, if you can turn these skills into habits, that’s when you’ll start seeing revenues climb.
Spend too much time on pricing won’t get you the results you want. More money is a byproduct of good sales work. Focus on the sales work and the money will come.
Till next time…good luck with your inquiries!
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