EVERYTHING IS SELLING...

Educating is Closing...Relationships are Revenue!

Pricing: I deliver the same message- EVERY TIME; the sooner the better and if a prospect calls you-I deliver this message in the first call.

Bob/Mary- let me get this on the table, because I think it's important information for you to have before we get into this process. I really want to do business with you and I appreciate your considerating "your companies name." I'm going to assume you're speaking with or will be speaking with my competitors if you haven't already. And the first thing you'll either be told or realize on your own, I want you to hear directly from me; I am going to be the most expensive, there is no question about it. We always are. Now, having said that, I can tell you why we're more expensive so you understand the higher cost and the value we provide for that cost, and why we believe it differentiates us from our competitors. But if a big part of your decision will be based on the lowest price, we're not a good fit. Does that make sense to you? They of course want to know what that differential is, and unless you have it to offer, do not lie. I'm simply telling you that if you believe you have a better service offering, technology, car, condo, whatever, and you don't want to get into a price war-get it off the table immediately.

Then you tell them not to worry you're not talking about a 50% difference but generally 10-15%. Everybody knows you get what you pay for, just make sure you charge a premium because you provide a premium product or service.

Price is an issue when you make it an issue- period. It doesn't work any other way. If you've used this approach and after a lengthy process your client wants you to meet competitor pricing or beat your competitors pricing- walk! If you believe meeting competitor pricing is taking care of a current or new client, and in doing so you will have the opportunity to win future business, and you've built a relationship, do it with a mutual committment that you get something in return. If none of these exist run don't walk! And if they let you walk it's because YOU have not convinced them or sold them on value OR you were not selling to the decision maker. The former will almost always be the case.

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Tags: negotiation

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Comment by Brad Roderick on December 7, 2009 at 10:19pm
Absolutely. If there is no real opportunity and I want to know that sooner not later.
Comment by Deborah Johnson on November 29, 2009 at 12:54pm
Thanks Brad-I appreciate the feedback! Have you also found using this approach helps you to determine who's a real buyer and who's not and therefore saves you time and money by not chasing an opportunity that doesn't really exist?
Comment by Brad Roderick on September 20, 2009 at 1:16am
Deborah, great approach. When you bring up the fact that you are at the high end of the pricing spectrum and ask them, "Does that make sense", they will typically respond positively and you have already taking a "premium" position. If they respond with a, "no", this allows you the opportunity to ask them questions that will lead them to making the statement that they don't buy everything in their life on price and once again, you are back to value. Thanks for sharing this approach. I know a lot of salespeople that lock up at the price question and it's generally because they walk in with it on their mind vs. thinking about how they can add more value than the competitor.

Brad Roderick
b.roderick@mac.com

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