Good morning!
While listening to a podcast, Etsy executive Tim Holley said something that hit me like a bolt of lightning:
“We are constantly trying new features. Our failure rate is 80%.”
I smiled. That number gave me comfort.
One of the hardest parts of my job is coming up with new sales training ideas for salespeople. Some work. Most don’t.
But then…
The lesson?
The best way to avoid the price objection from current customers isn’t lowering your price. It’s continually bringing them fresh ideas…even if they fail.
Most will be met with crickets. That’s okay. In fact, expect it. If Etsy can live with an 80% failure rate, so can you.
Every new idea tells your customer, “I’m thinking about your business.” Every suggestion reminds them you’re more than someone who takes orders and sends invoices.
When your customers see you as a source of ideas instead of just another salesperson, price becomes a much smaller part of the conversation.
Keep bringing value. Keep experimenting. Keep working for their business.
That’s how you earn loyalty and kill the price objection.
The Sales Vault, created by Bill Farquharson, is a subscription-based resource and sales community featuring a calendar packed with live workshops, on-demand sales courses, peer-to-peer discussion groups, and 35+ years of sales training content all searchable by sales challenge. Think of it as a sales conference where the seminars and workshops, full of instantly applicable ideas, are ongoing and more programs are added constantly.
The Sales Vault is available on a monthly subscription basis, normally at a no-brainer monthly price of $45/participant, but… GMA members can take advantage of an exclusive offer: FREE membership for 30 days followed by a discounted monthly subscription price of just $40/participant.
Bill has been a friend of GMA for many years and is, no doubt, known to our members as a top sales trainer and content creator for the graphic arts.
Other Vault resources: