Wednesday, March 18, 2009

How to Stay Firm on Price

With money tight, everyone's looking for a way to pay less for the goods and services they purchase - and while it's smart to do what you can on price for a loyal client, there's a point when customers can ask for too much. What do you do when they want something you absolutely can't do? Sales trainer Mike Brooks has a strategy for dealing with this situation that will help you out.

"You can only go so low with your price, and some people will buy, and some won't. Period," says Brooks. "Continuing to lower your price not only cuts into your commissions (and company margins), it also doesn't always work. 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."

"That feeling is even worse than not getting the deal because it kills your confidence and makes you a weaker closer," continues Brooks. "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% of sales professionals and do what they do," explains Brooks. "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 is still trying to get them to go lower."

"Bill, 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. Try this take away close this week, and watch your deals go up and your confidence as well. You'll go home with more money, and you'll feel better about yourself.

Mike Brooks, Mr. Inside Sales, specializes in helping sales reps avoid rejection and make more money. Check out his free ezine at http://www.mrinsidesales.com/ezine.htm
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