How To Stay Firm On Price By Mike Brooks
In today’s economy, everyone wants a lower price. I’m getting emails and calls every week from sales reps around the country who want to know what they can do to deal with prospects and clients alike who are looking for discounts and even threatening to take their business elsewhere.
“I can’t go any lower,” they tell me, “And certain clients just keep low balling me and working me for more discounts. What should I do?”
If you are dealing with this sort of thing as well, then I’ve got some specific advice that will not only work for you, but will make you more confident and successful as well. To start with, you have to admit the truth:
You can only go so low with your price, and some people will buy, and some won’t. Period. Continuing to lower your price not only cuts into your
commissions (and company margins), it also doesn’t always work as you know. And the worst part is that after you’ve jumped through all the hoops and your client still doesn’t buy, you feel used and abused.
And that feeling is even worse than not getting the deal because it kills your confidence and makes you a weaker closer. After a few days or weeks of taking that weak attitude onto each additional call, your prospects begin to hear that defeat in your voice and you just keep getting beaten up over and over again.
Want a better way? Adopt the attitude of the Top 20% and do what they do. To start with, the Top 20% know that the two greatest feelings in sales are #1) Getting a deal, and #2) Keeping control of the situation by using a take away and leaving the call with strength.
The Top 20% know that not all prospects and clients are going to buy, and they know that staying strong and using a take away is the only way they can leave the call successfully. Here is what they say after they have made their best offer and the prospect/client is still trying to get them
to go lower:
“_________ I totally respect that you’re trying to do what’s best for your company right now, but the offer I’ve just made is the best I can do and
still give you the (level of service, quality, value, etc.) that you’d expect and be happy with. If you can get this somewhere else and it fits within what you’re willing to pay, then I’ll just have to understand and hope that I can work with you next time. I’m here for you now, but the decision is up to you – what would you like to do?”
Many times calling their bluff like this will get the prospects/clients that are deals to stop hammering you for price and sign up. And those who
walk? They would have walked anyway, and now when they do you’ll have remained strong. Just like the Top 20% do.
Try this take away close this week, and watch your deals go up and your confidence rise as well. On Friday you’ll go home with more money, and you’ll feel better about yourself. And that’s what being a Top Producer is all about!
Mike Brooks, Mr. Inside Sales, works with business owners and inside sales reps nationwide teaching them the skills, strategies and techniques of top 20% performance. If you’re looking to catapult your sales, or create a sales team that actually makes their monthly revenues, then learn how by visiting: MrInsideSales.com
-How do you go about addressing the issue of price when it comes up during the sales process?