There is no way to estimate your customers' willingness to spend money on the repairs, improvements, products, or services they really want. Never tell customers how they should invest their money. Let them make the decision. Don't throw cold water on a possible sale when you don't know the value of the item or transaction customers are considering. Sentimental value, emotions, and history often play into a customer's decision to spend more than you may think makes sense.
ACTION ITEM
Put your customers in the power position, give them their options, and then let them make the decision. Value is in the eye of the beholder.
The owner of a high-rise office building in downtown Chicago attempted to sell the building, which had fallen into disrepair and was vacant. When one prospect came in, he began to belittle the value of the building, talking about the leaky roof, the loose bricks, and other major problems. There was no way for the seller to know how much or how badly this prospect wanted to own the building. The more the prospect talked the property down, the more the seller lowered the price. Finally, they reached a deal. Then, unexpectedly, the new owner had the building demolished and the site cleared. He knew the value of the land, which was what he really wanted all along. The seller lost thousands of dollars because he assumed the buyer wanted the building, not the land.
TAKEAWAY
Your job is to inform prospects of their
options; their job is to decide what best fits
them and their budgets, needs, and wants.