value vs. price

[johnrocks]

I just wrote in another thread about value and it occurred to me that I have not seen it discussed here. It is my firm believe that if you can somehow convince that prospective client that he is getting 1 cent more value than it cost him in money,you got a good chance of making a sale.
Price is a cost that is placed on any service or product while value is more a return on your investment. For example let's say your son wants a new bicycle so you go to the local discount store and you find one that your child loves for a hundred dollars, you purchase that bike and a year later it is in a thousand pieces. Your best friend went to a local bike shop and paid 500 dollars for his son a bike and 7 years later his little brother is still riding it. Which represents a better value, that 100 dollar bike is gone down a "rat hole" but that other bike only has cost less than a hundred dollars a year to use, the discount bike cost more to use.

I can for example show more value in some plans even though they may cost more i.e. more benefits,better rated company,speedier claims,better customer service etc. The list can go on and on. The Ben Franklin Close is one of the best closes to use if you find yourself in a price objection.

Anyone else care to elaborate on value vs. price I would love to hear some other ideas on this

 

[senior-advisor-indiana]

Pardon my ignorance but what is the Ben franklin close?

One reason for me becoming independent is so I can be more valuable to my clients. I won't ave to compete price wise anymore. Well hopefully not as much anyway. If I have the best product I am far more valuable right?right! Value always beats price.

 

[johnrocks]

THe Ben Franklin Close is simply taking a legal sheet of paper on one side write for and on the other side write against(proceeding with the sale of your product) You write down the first reason for buying your product;say more benefits then you list # 2 and then #3 and so on and so forth you even try to get them involved after you list all the reasons for buying your product(hopefully far more than he can come up with against) maybe 8-10 reasons you write his objection down under the against column (say price) you then hand him the legal pad and pen and SHUT UP!! I learned many years ago that the first to speak loses.

 

[J.R.]

THe Ben Franklin Close is simply taking a legal sheet of paper on one side write for and on the other side write against(proceeding with the sale of your product) You write down the first reason for buying your product;say more benefits then you list # 2 and then #3 and so on and so forth you even try to get them involved after you list all the reasons for buying your product(hopefully far more than he can come up with against) maybe 8-10 reasons you write his objection down under the against column (say price) you then hand him the legal pad and pen and SHUT UP!! I learned many years ago that the first to speak loses.

You will get a better response if you have the prospective clients give you the pros/cons, eitherwise you are wasting breath going over things... I love the Franklin close, but do not use it anymore...

 

[CHUMPS FROM OXFORD]

I know this sounds absurd, but I don't think I have ever asked anyone if they want to buy.

I'll explain the "process" of applying and wait for them to say something like, "OK...let's go ahead with it."

 

[johnrocks]

I know this sounds absurd, but I don't think I have ever asked anyone if they want to buy.

I'll explain the "process" of applying and wait for them to say something like, "OK...let's go ahead with it."

Booyah!!! assume the sale!!!

 

[senior-advisor-indiana]

I hate filling out the whole app and then they say whoa whoa, I didnt say I was doing anything. It has pissed a few people off.

 

[johnrocks]

It is all a number's game. I believe the worst techniques used are better than great ones that are never used.

 

[Cenla Agent]

I know this sounds absurd, but I don't think I have ever asked anyone if they want to buy.

I'll explain the "process" of applying and wait for them to say something like, "OK...let's go ahead with it."

Your method sounds pretty much like mine. I don't think I have asked anyone to buy either, at least not in a direct way. Lately I've been saying "How does that look to you?"

 

[Cenla Agent]

A veteran life agent told me once that in his opinion it was about being in the right place saying the right things at the right time.