Educating Patients on Price vs. Value: To Help Them Hear Better

Sep 29, 2016 | Professional Development

I have a hard time when it comes to asking for the sale with new patients. I mean, I went to school to help people hear better, not be a salesperson. But the more I learned about price versus value, the more I learned that this step in the process is about helping my patients hear better. Once I got this part of the consultation down, it was smooth sailing from there.

Price versus value is simply explained: When all things are equal, people buy price; when all things aren’t equal, people buy value. Value is the perceived benefit divided by price. When patients call for price, what they really want to know is whether the value equals their perceived benefits of their potential action.

The 4 Types of Callers

  1. Transactional: They have a low need for a relationship and a low need for information. They just want the right product at the lowest price.
  2. Relationship: They want a relationship with your practice. They need people who will have an in-depth understanding of their situation and how to help.
  3. Informational: They have a high need for information and a low need for a relationship. They know what they want, and they want to be informed and educated.
  4. Partnership: They have a high relationship need and a high information need. They want someone who understands their specific needs.
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Getting Into the Why, How, and What of Shoppers

WHY is price so important to callers and value so seemingly hard to deliver?
Transactional shoppers are thinking about:

  • Money
  • Influence (or their lack thereof)
  • Comparison
  • Trust (or their lack thereof)

Understanding why your transactional shopper has that mentality is essential to persuading them for the sale. To understand the why, find out what prompted them to call.

Ask questions that help you understand why their perception of the value is the way it is. (Remember: Their perceived benefits right now are not equal to the price of the hearing aids.) Find out the specifics so you in turn can give a specific and customized approach to their objections.

When you hear their answers to the questions, you can then differentiate and offer a different approach to looking at the perceived benefits. Now that you know what they need, tell them what they can’t get anywhere else.

HOW can the resources and tools help me build value by increasing a caller’s perceived benefits?

Okay, so you know what you have to do, but doing it is another story. Here’s how engaging the caller and getting information is done.

  1. Caller’s name: Get the caller’s name. “Hi, my name is ____. What’s your name?”
  2. Engaging: Ask engaging questions. “What kinds of things do you like to do that are impacted by your hearing right now?”
  3. Caller status: Find out if they’re calling for themselves or someone else. “Are you calling for yourself or someone else?”
  4. Hearing aid use: Find out if they’re currently wearing hearing aids. “Are you currently wearing hearing aids? How long have you had them?”
  5. Difficulty: Find out what kinds of difficulties they’re experiencing. “What kinds of difficulties are you having that motivated you to give us a call?”
  6. Last test: Find out when they last had a hearing test. “When was the last time you had your hearing tested?”
  7. Contact info: Get the patient’s phone number and address. “I have your number, but can I get your address for my files and to follow up with you in the future?”

Lastly, make sure your practice message is clear to the caller. What’s your practice message? It should be something that makes a clear distinction about what will make the caller’s experience at your practice unique, special, and valuable.

WHAT does building value actually look and sound like in order to achieve the expected outcomes in real life?

“If there is a price difference, the customer wants assurance that your product (or service) has advantages in excess of the cost difference,” says Grant Cardone, New York Times best-selling author and international sales training expert.

  1. Caller understands they made the right choice in calling
  2. It’s a conversation, not a transaction
  3. An appointment, not a missed opportunity
  4. Callers are more aligned and educated
  5. Be genuine and be curious — be you!
  6. Practice, practice, practice!

To hear our professional development managers guide you through this process to help you practice, download our webinar.