Are your sales reps successfully selling against their low-priced competitors by selling to the “FUD Factor?” The “FUD Factor” is an old selling concept that stands for FEAR, UNCERTAINTY, and DOUBT. How is your team selling against a lower-priced competitor who likely has less quality, lower service, but a much cheaper price?
The solution to successfully selling against lower-priced competitors is by “Selling to the FUD Factor.” Low price only looks good to a buyer when they believe there are no significant differences between their competitive choices. So, the way you sell again low price is not by talking about your prices, but instead talking to your buyer about their risks and exposures if they go with that lower-priced competitor. We want to help generate fear, uncertainty and doubt in our buyer’s mind so they’re not willing to take the added risks of buying something from someone else at a lower price.
What can you do to work with your team to help them develop this selling skill of “Selling to the FUD Factor?” This is a great time to do some role-playing in your next sales meeting, to help your team understand how they can effectively use the “FUD Factor” to defend their higher prices and better service.
Join me as I talk about how your team can take advantage of the “FUD Factor” by talking about how you can reduce a customer’s Fear, Uncertainty and Doubt…so they can sell even more!