Involving prospects in designing their own solution builds a sense of ownership. This "IKEA effect" increases the solution's perceived value, justifying a higher price and neutralizing competitor discounts, even when the final cost is higher.
Related Insights
A woodworker reframed a transaction from buying a finished product to a collaborative building experience. This shift completely altered the customer's value perception, leading him to happily pay 30% more than the original high-priced item for an imperfect, co-created result.
Introduce a significantly more expensive, highly customized version of your service alongside your main offering. This price anchor makes the actual product you want to sell appear like a fantastic deal, even if it has a high price point, thereby increasing conversion rates.
Don't pitch features. The salesperson's role is to use questions to widen the gap between a prospect's current painful reality and their aspirational future. The tension created in this 'buying zone' is what motivates a purchase, not a list of your product's capabilities.
Price objections don't stem from the buyer's ignorance, but from the seller's failure to establish clear economic value. Before revealing the cost, you must build a business case. If the prospect balks at the price, the fault lies with your value proposition, not their budget.
When stacking value in an offer, don't just add random bonuses. Strategically design each bonus to address a specific, predictable customer objection, such as 'I don't have time' or 'This seems too complex.' This transforms value-stacking from a generic tactic into a precise conversion tool.
When prospects invest significant effort in a co-creation process, their brains justify the work by elevating the outcome's value. This cognitive bias reframes the solution from ordinary to extraordinary, making price a secondary concern.
By proactively asking about potential deal-killers like budget or partner approval early in the sales process, you transform them from adversarial objections into collaborative obstacles. This disarms the buyer's defensiveness and makes them easier to solve together, preventing them from being used as excuses later.
To sell effectively, avoid leading with product features. Instead, ask diagnostic questions to uncover the buyer's specific problems and desired outcomes. Then, frame your solution using their own words, confirming that your product meets the exact needs they just articulated. This transforms a pitch into a collaborative solution.
Your company doesn't need to invent the perfect way to handle every sales challenge. The "gold standard" already exists within your team. The goal of an SKO is to create interactive forums, like role-plays, to discover and amplify this hidden, peer-generated brilliance.
Instead of hiding price until the end of the sales cycle, be transparent from the start. Acknowledge if your solution is at the high end of the market and provide a realistic price range based on their environment. This allows you to quickly qualify out buyers with misaligned budgets, saving your most valuable asset: time.
