Convert Price Shoppers to Value Buyers
One of the most dreaded calls a business can get is from those who are simply “price shopping.” Many companies absolutely despise this call, seeing them as nothing more than another form of spam.
These businesses will try to get these callers off the phone as soon as possible, which is understandable. A business needs to be focused and working towards making sales and fulfilling orders, not getting caught up giving price ranges to people who aren’t legitimately looking to buy.
However, it’s possible to turn these price shoppers into real sales, but it’s going to take some skill and patience to convert “tire kickers” into value buyers.
Weeding Out the Time Wasters
To find the hay among the needles, you’re going to need to weed out the people who are simply going to waste your time. It’s not worth trying to sell your products to people who don’t even have a place to put them. With these three easy steps, it’s easy to figure out who is wasting your time, and who just needs a little extra hand-holding:
- Cut to the chase, avoid giving estimates. Price shopping is a non-committal way of calling. Giving them a price range without getting all of the details and crafting a formal quote does nothing but give them the chance to price match against your competition or potentially even harm your business. Be straight, yet professional and courteous, with your caller, and tell them that you cannot provide an estimate without seeing the job site, reference photos, or the vehicle that’ll be worked on.
- Make them prove they’re a valuable customer. Making potential customers put in a little legwork, such as having callers give you files or specifications, makes them more committed to the game. Here you can gauge their actual interest in the product, and you keep the conversation rolling. The next time that customer calls in, you can give them a more accurate price along with sales suggestions. If the caller is unable to produce anything worthwhile, politely inform them that you cannot give them an estimate without the full details. If they become aggressive or rude, don’t rise to the bait. Just tell them that there are too many variables to consider for on-the-fly pricing, and that you will be happy to give a full quote once they are able to get those items over to you.
- Call their bluff, schedule a meeting! Some price shoppers are serious about your product, but don’t want to be hounded by the sales process, resulting in them downplaying their enthusiasm. Scheduling a meeting with the caller to get into specifics about their needs not only gets rid of the true time wasters, it also helps build your relationship with legitimate customers.
They’re Still Possible Buyers
You should always assume that when someone reaches out, they’ve got a legitimate need. Your mindset when you handle a call drastically changes how you speak to a caller. Going into a call thinking it’s already a waste of a time is not going to convert a caller into a buyer.
Treat price shoppers just like any other customer, and be thorough! If you get lackadaisical with a price shopper, their perception of your quality of service will tank. Just because someone isn’t ready to buy, doesn’t mean they aren’t ready to leave you a negative review if you handle their call poorly. So maintain your professionalism, and go into your call with the idea that they’re looking to buy and you’re looking to make a sale.
It’s Not the Lowest Price, It’s the Best Value
Despite the name, price shoppers are really looking for the best value or bang for their buck. It is incredibly important that you describe the full value of your offer, beyond just the cost to acquire it.
When you provide estimates, you may neglect to adequately explain the full value of your offer such as the design, production, installation, and labor that goes into your product. In fact, simply giving advice and estimates to them is adding value in and of itself. If you provide very sound advice and try your best to help the caller, they are more likely to return to make a purchase even if your prices are a little higher than the competitors.
This is also your chance to practice your sales strategies, and try to sell the caller an alternative product that may be better suited to their needs or budget. If you have an alternative package that would better entice the caller into making a purchase, utilize it! The same goes for products that are complementary to the buyer’s original needs. Even down-selling can be an effective tool for securing a client who is having a hard time pulling the trigger.
Price shoppers are customers just like everyone else, but are often looking to bypass the more committal nature of the sales process. By employing the strategies we’ve covered, you can convert that caller into a long-term client.
To recap, price shoppers:
- Are looking for the best value, not the best price.
- Are still people with actual needs.
- Should be treated just like every other caller.
- Can be converted into long time clients with the right approach.