… it’s about a mis-understanding of value, or a Basic Issue.
[Note: Many in the MH community will argue that it’s ALWAYS about price for those of us in the field, but that academically the above holds true. Regardless, please read on for my point]
Today, I was involved in a meeting where the customer told us, “Your price is too high.”
After preparing a GST, asking questions, and practicing Golden Silence, we were able to drill down on and understand the Customer’s Concept… that is, what he’s looking to accomplish, fix, or avoid.
Customer initially says you cost too much; after meeting we now understand the following, as spoken to us by the Economic Buyer:
“We’re concerned about margin erosion, b/c we’ve been using the high profits from your product line to compensate for lower margins on our commodity sales.”
That is extremely important information that will help resolve the customer’s pains, and develop an effective action plan.
Boom! The POWER of Questions lives on…