Overcoming these will help to increase your sales like never before…
Selling is an incredibly complicated process, involving human physiology, marketing, branding and more. There’s no wonder therefore that selling is also extremely difficult. It’s no longer the case that, “if you built it, they will come”.
What we do or do not believe plays a critical role in our ability to sell, and it’s important to address our beliefs often. Below are 3 beliefs that are very common to have (I’ve sure had them before), which will be directly hurting your ability to sell.
Belief 1: People always buy where they get the cheapest price
This belief leads to one conclusion: You have to lower your prices so they’re lower than any competitor. This hurts your selling in several ways:
Firstly, people don’t always prefer a lower price. In many cases, people will pay more to get greater quality. Therefore your lower prices may actually put people off.
Secondly, even if your lower prices encourage more sales you may still make less money than if you had higher prices. Think about it.
Would you rather have 100 people buy your $5 product for a sum of $500, or have 75 people buy your $10 product at $750?
Thirdly, up-selling and cross selling is essential to making a profitable business. By attracting people who prefer to pay less, you’re making it harder for yourself to up-sell and cross sell to these people later.
And finally, by adding further value to your product/service you’re able to charge more and people will perceive the greater value and be happy to pay the greater price.
Don’t try to get customers on price — get them on quality and value.
Belief 2: Offering customers options will boost sales
This belief leads to the conclusion that having more products and options will help sell more.
Having a broader product range helps more potential customers be interested in buying from you. But it’s also the reason that most won’t buy. Let me explain.
Buying something is a decision. That decision is made much harder, and much more complex, when introducing multiple product options. It makes the act of making a clear decision so difficult, that many will be put off and not buy anything!
This belief reflects a small part of what is a major problem with selling today: Ease. Many businesses unknowingly put up roadblocks and barriers that prevent people from buying. These are things that businesses wrongly believe aid in the sale, but in fact they do the opposite.
Keep it simple, make it easy for people to choose a product to buy from you
Belief 3: Everybody needs my product/service
I get it, wouldn’t it be great if we could sell to every person in the world? Or everybody in our country? Or even everybody in one region or city? Sadly that’s not going to happen.
Your product/service will help a set group of people with certain demographics, interests, personalities, and more. By believing everybody needs what you’re selling, everything you do to attract customers will be targeted towards everybody.
Such broad targeting will only lead to your marketing failing to attract anybody. Marketing needs to relate strongly with certain people — it needs to speak out to them, and relate to them. Only then will they be open to buying.
I know the idea that only a small percentage of people want what you’re selling is not a nice one. It means that there is only so much more money you can make. But you will make much, much less money if you fail to relate to your ideal target audience.
Plus and as I mentioned in belief 1 — up-selling and cross selling is critical to overall success and money making. Sell to less, and sell more to the less.
Focus your marketing on one target audience, and you’ll see more than you ever would trying to sell to the entire world
Beliefs are our own, and it’s not uncommon to be so strongly entwined in them that we refuse to change our minds about them. But the reality is we have to be open to new beliefs, and constantly questioning our old ones otherwise we never truly improve and evolve — whether in sales, or any area of life.