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Three Words Can Make or Break a Sale for Women
November 02, 2007
By Kelly McCormick
Women have come a long way in business. Who would have considered that more women than men would graduate with college educations and that women would pursue professional careers in numbers far surpassing most expectations? The majority of demographers didn't see it coming. But even as optimistic as women have been about their own success, very few report feeling comfortable in their skins when it comes to selling. This becomes especially evident when women have to talk about money.
Three Words Can Change Everything
Three simple words can catch even the most seasoned female seller off guard—and I am not talking about "I love you." The seemingly innocent words that send many female sellers reeling are rarely spoken aloud. These success-sabotaging statements include "fear of fees" and "slash the price."
Fear of Fees
Everything about the sales discussion seemed perfect.
Your favorite longtime client had referred the new customer to you. As a result, the new customer already liked you before meeting you and was also very excited about what you were selling. When you did see each other face-to-face, the two of you quickly talked about the customer's needs and expectations. Every customized suggestion you voiced was greeted with excited approval. Your self-esteem was so high that you felt like you'd been crowned "Saleswoman of the Year!"
It was rapidly turning into the best business arrangement known to womankind. That is, until the moment your new customer asked about cost and the whole price question came up. That clear-cut phrase—"What's it cost?"—killed the moment faster than you could say "I'll slash the price."
Slash the Price
The typical internal dialogue of a female seller who's just been asked about her prices often sounds like this:
Oh, great, now I have to talk about money. I hate talking about money. I just know the buyer will think I’m overcharging. Maybe I should drop the price. Yes, that’s the best way to handle this. Gosh, I hope I can pay my bills next month.
Deep discounting—to avoid the discomfort of engaging in price discussions and any nasty negotiations—is a popular short-term solution used by many women. But like most short-term solutions, price slashing is only a Band-Aid solution over a sore spot that really needs full-on attention.
The disappointing reality is that the majority of women are still working far too hard for the money they earn. Even sadder is the reality that most women are conditioned by society’s norms to expect little else. Women are often viewed as the doers and nurturers of the world. How can we put a price on that? Just watch us.
Sell Yourself First
The first person a woman usually has to "sell" on the value of her products and services is herself. An easy way to sell you on the worth of what you offer is to answer the "What Is It Worth When" question. This simple yet powerful question has assisted businesswomen in a variety of careers to break free from a myriad of self-sabotaging beliefs and thoughts about money.
You begin the process by answering the question below that best applies to your situation. Pay attention to the first answer that comes to mind. Your first thought is generally your most honest. Trust your gut.
a) If selling services: How many more times will I have to provide this service before I feel confident enough to ask full price?
b) If selling products: How many more of these will I have to sell until I believe they are valuable enough for people to pay full price?
Fake It Until You Make It
The majority of women say they need only offer their products or services three to five more times to feel confident enough to request top dollar. If three to five more sales of your products or services would raise your self-confidence to full steam ahead, why not ask full price starting now?
The easiest way to feel comfortable with your prices right now is to fake it until you make it. To do this, simply imagine the confidence you'll feel when you believe in the value of your products or services. Then adopt that confident-feeling tone immediately. Like anything, practice makes perfect. Soon enough, that confident-feeling tone will become the default every time you talk about money.
So state your price with confidence and wait to hear "yes." What the customer now sees before them is a confident person who is ready, willing and able to provide the products and services they need.
Speaker and entrepreneur Kelly McCormick's insider secrets on women and sales increase selling success on both sides of the counter. Frequently quoted in national media, Kelly offers insightful and entertaining presentations. Her "How to Sell to Women and Selling Skills for Women" sessions are a hit with corporations, businesses, franchises, and associations, both nationally and internationally. Kelly is the author of the soon-to-be released book OutSell Yourself: Breakthrough the Top 7 Selling Challenges. Born in Canada, Kelly now resides in Southern California. For more information, or to sign up for Kelly's "Communication E-tip", visit www.mccormickteam.com.
Sales & Marketing Management Magazine
This article is brought to you by Sales & Marketing Management, the leading authority for executives in the sales and marketing field.
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