I put the question of what to say when someone asks you to lower your price out to my Sales Playbook Group on LinkedIn.
Some fantastic thoughts followed!
Thought I’d share them with you here and if by chance you’d like to know how I handle that situation, please click HERE.
And when you HAVE to negotiate . . .
I’ll be sharing my best negotiation tips and tactics during our Negotiate Like A Pro webinar.
It all takes place on Thursday, November 2, at 11:30 am EST.
Here’s what you’ll gain by attending;
- 7 Ways To Create Deals Where There’s A Lower Probability Of Having To Negotiate
- 5 Tactics That Are Likely To Be Used Against You (And Countermeasures For You To Regain Control)
- How To Understand (and Leverage) Behavioral Styles
- One Subtle Tactic That Gives You Leverage
- How To Create A Collaborative Negotiation
- What To Do When You Hit An Impasse
- How To Walk Away Without Killing Your Chances To Do Business In The Future
When?
Thursday, November 2nd, at 11:30 am EST.
What do you get?
(1) 90 Minute Webinar With A Ton Of Actionable Tips
Worksheets
Bonus PDF With Additional Ideas (Sent The Following Week)
How Much?
$99
Also, this is a live virtual online event. You only have one chance to join us LIVE so click HERE to secure your spot!
David King With assurance and willingness to get up, thank them for their time, wish them well, and leave.
Gabriel Kaczyński Well, I don’t tell that I won’t but in my bussiness I have a very very narrow window of negotiation. I pretty much describe what they get fot the price, I use something similiar what you described Paul in one of your podcasts, I try…
Lucas A. Dowd Set the expectation upfront. Reference the Carmax business model
Patrick Doyle There is always something you can negotiate that you can tie back to revenue impact. The customer needs to feel like they won, so always know what you have in the back pocket when you are negotiating with slim margins.
Marc Zazeela First, I don’t talk about negotiating if no one asks. If they do, I simply mention I have given them my best price. I let them know it is fair and they can expect exemplary service. I only do great service. I don’t cut corners to meet a pricing objective. If your number one criterion is a number, perhaps I am not your best choice.
Todd Gatlin, LSSBB I have a friend who tells clients seeking to cut corners: “I’m not your guy. If you want it done right, that’s me. If you want to save money and sacrifice quality, I understand, but I won’t be able to help you.”
His tone is even, understanding, and polite. With that, he ends the meeting and leaves.
Remember that your name is attached to your work. Your future reputation is valuable, too. People talk, and I would rather have them speak well of my work, than be known as “The cheapest guy available.”
Larry Fagan First I take time to make a friend and get to know the person and the business . If I see a way that my service/product will improve what they are doing and help the person to receive what will make them better rarely is a negotiation of price needed .
Mike Kunkle Generally, it’s something like:
Okay, if you have budget constraints, that’s a reality we all need to contend with. We aim to be as flexible as possible to work within our clients’ limitations. This is the pricing for everything as we’ve discussed it, so far. To reduce the investment we will need to adjust the deliverables. I should share, although I’m sure it’s not s surprise, that changing the recommended approach could have an impact on your anticipated outcomes. As we explore options, I’ll do my best to point out the possible risks inherent in an adjusted solution, so you can weigh the pros and cons and make the best possible decision for your current situation. Do you have time to explore this now, or should we schedule some time now to work through the details together?
Jennifer Halloran I’m pretty open about my pricing from the start, so this rarely comes up for me now. But, I don’t take it personally if my pricing is too much for someone. I give them some pointers on hiring someone that won’t rip them off and we part amicably.
Tom Laird Our sales staff sells off of value and differentiation, and that makes it easier for us to combat price-cutters. We simply show them why we’re the preferred choice based on our designs and service and allow them to make informed decisions. We also expose potential opportunities that our equipment can present that the client isn’t aware of, therefore adding more value to our offer. It only costs a little more to go “First Class”! Be nice, but be firm!
Chris Mackie I believe that that price is only an objection in the absence of value. If price becomes the objection, I’ll have my sales rep go back and ensure the value has been explained thoroughly. If the prospect still wants to play the price game, I may have the rep (or in some cases I’ll do this myself) tactfully suggest that our solution isn’t for everyone. Sometimes this creates a perception (albeit accurate) that what we’re offering is of an “elite level” and they simply may not be able to afford it.
Michael Dantu All great points made by the professionals here , and professionals you are in the manner in which you handle this situation . I use variations of a lot of what was said here . Ask the good questions upfront , find out the budget , turnaround , usage of product or service , expectations . Rarely does it come down to the price at the end of front end has been set up correctly . If it goes sideways at the point of price and terms then I blame myself for not asking right questions upfront and getting clarification. Great input by all . Thanks.
Robb Quinn Hit them with the “I don’t have anymore money to give you, unless you want the shirt off my back”. Then recap the value of what your offering, followed by the price you’re offering it at (which should be lower than the value if you pitched It properly) followed by social proof and story telling of what it’s doing and has done for other people. After you do those things in that order, go back in with the close. After this process I like to close with “Do you have any other questions before we get started?” or “Would you rather use checking or credit?”
Joel Postma In my current world we are not allowed to negotiate pricing or terms. With us, what you see is what you get.
Dave Schrup When meeting with a prospect I always make the conversation about them and what they are looking for especially with regards to what the “pain” is with their current printer. Be it quality, delivery, follow up, and communication. When the subject turns to price I focus on all the value added aspects we provide, knowledge, asking the right questions such as what the project is for, what the end results they are looking for. Ask, listen, then ask and listen again, it is amazing how few of the competition actually do that.
Geoffrey Routh Be polite, but let them know that you’re at your walk-away price. Be ready to walk away.
Carol Kappes I can’t lower the price because it’s worth every cent and more! You’ll be happy with it.
Mike Weber Why do they want to negotiate the pricing terms? Start there and address the real problem.