Tired of customers asking you to lower your price? Don’t be. They are supposed to…but only if they are smart buyers. In fact, professional buyers are trained to ask you for a discount five times. Good news for them is that most salespeople buckle after the first attempt. And the rest usually fall after the second. But here’s the good news. You don’t have to be THAT salesperson. The key to great negotiation is preparation and reluctance. First, you know you are going to get asked for a discount, so don’t seem so shocked when it hits. Prepare what you will say the next time you hear it.
For example, you might reluctantly respond with, “I would be able to match that price but that would be without the _______ and the ________. But without those features you won’t be able to _______”
By lowering the price they understand that they are NOT getting the same value. Lesson: NEVER give the same value AND lower your price.
Or perhaps you respond with this, “I am unable to match the price, but I would be willing to provide ______. But to provide that I will need ________.”
See what happened here. They asked for lower price (like they should), you provided something of value other than the price, and then asked for something in return. Often they won’t want to give that something in return and will just stick with the original price. But if they take it, you are STILL happy because you gave…but received something of value back.
So this week, be prepared to hear, “Is that your best price?” But then be even more prepared with pre-planned responses that will increase margins and set you up for your best sales year ever!