Have you ever felt as if your sales target is a massive mountain, and you get so overwhelmed, you don’t even start? Are you struggling to sell at a higher price?
I was working at Entrepreneur magazine in Advertising Sales, when Shana my colleague pulled me aside and said:
“Stop discounting, and selling at the lowest rate Yoke. You need to anchor much higher, and sell at a higher price”.Shana
I had been scrambling around. Seeing multiple clients, having 15-20 face to face meetings a week. Doing deals-but somehow I was working so much harder than everyone else, and I was struggling to hit my target.
And that’s when I realised the power of anchoring.
When I train teams on Negotiation skills and Consultative selling-we often refer to the importance of anchoring which allows you to sell at a higher price.
If you anchor too high in the sale, you may chase the client away, if you anchor too low, there is no place for negotiation, but you are missing out on selling the product, or service at the right rate. And you need to work so much harder to reach your target.
Years later, I was coaching & training salesconsultants at AutoTrader. And in a split second through anchoring higher, a salesperson sold a better deal than if they simply went for the lowest package available.
What is your default? Are you hitting your numbers?
Does your sales team need help to sell at a higher price?
At Y-Connect we help sales teams understand the science and psychology of sales, to increase their sales activities, sell at a higher yield while ultimately increasing their sales conversions.
Written by Yoke van Dam