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Focus on a Trade, Not a Discount Smart buyers will always ask for a better price. Uncovering the key issues your customer is facing is critical to your negotiating success. The second most important step is to establish the value of your product or service to your customer. You can negotiate for products and services that the other person or company offers such as consulting, office equipment, computers, furniture, business services, etc. Plus, it often prevents the other person from asking for an additional concession because they know you will ask for something in return. Remember, your ultimate goal is to give away as little as possible in order to close the sale. Every time you discount your product or service you discount yourself and eat away your profits. ' Copyright 2004 Kelley Robertson
Article: Focus on a Trade, Not a Discount Smart buyers will in any case ask for a preponderate price. Unfortunately, too many sales people and obligation owners involuntarily think that reducing their price is the most effective way to respond to this request. However, negotiating is not never otherwise randomly price. at any rate price is a factor in virtually every sale it is not usually the primary or motivating factor. Everything you say and do from the first contact with a prospect affects the value of your product or service in their mind. That’s why I accredit it is important to look at the negotiating process differently in order to sign in outstanding results. First of all, invest time gathering information much your prospective customer, his needs, situation, and marketing motives. The more information you have the more prepared you will be to negotiate later in the sales process. Regardless of what you sell, and to whom, information will help you negotiate more effectively. Many of my clients tell me that their customers care only upwards of price, but upon further exploration, other issues usually arise. Uncovering the key issues your customer is facing is critical to your negotiating success. The second most important step is to establish the value of your product or service to your customer. Positioning is an important factor and will profess the price your customer is willing to pay. What pain does your product or service eliminate? How does it solve a problem they are experiencing? How do your products and service differ from your competitors? Most of my clients sell premium products at a premium price. In exchange, their customers receive acculturate than generally service, faster response times, or higher quality products. What is your leverage and how can you use it to increase the value of what you sell? You have executed the straight up steps but price is still an issue for your customer. What do you do now? Instead of conceding to their request and giving them a discount, focus on creating a trade. This means you should ask for something in exchange for making a concession. What can you trade or ask for? barely anything! A longer contract, a bigger order, more add-on items, an introduction to other than key decision-maker in the company, wheeler-dealer to their mailing list or subservient database, or payment terms. You can negotiate for products and services that the other person or association offers such as consulting, office equipment, computers, furniture, dedication services, etc. I once worked for an electronics companion and my boss offered a big-screen as payment for services to a potential vendor. I was shocked when the vendor eagerly wonted as things go I often had the impression that dedication people focused strictly on cash. Here are a few ways you can effectively position this request. “If I could do that price for you would you be willing to extend the length of the contract for an contingent three months?” “If I could work that out would you be prepared to give me publicity space?” “The only way I could give you that is if you add one more line of products.” “Let’s put that in camera for the time being. Would you be able to give a similar rung of…in exchange for that concession?” The key here is to think outside the box and explore other options immediate to you. I recall speaking to a prospective ward alongside a training workshop and was asked to make a concession that amounted to a fifteen percent discount. I was not wealthy with this so I asked my prospect if he would be willing to give me a parallel equal of his product instead. He did not have the whip hand to make such a decision but spoke to someone who did. My request was eventually denied so my prospect conceded to my initial offer. Another effective reaching is to make the concession but take something away from the initial offer. For example, you could say, “I can do that. However, I will have to labour costs you for…” or “I can do that. Do you want free delivery or after-hours service taken out of the contract?” Most people will expect you to keep all the conditions “as is” but they will want the lower price. By demonstrating how much the concession is worth you can reduce the effectiveness of their request. Finally, ulterior strategy is to regularly ask for something in return for making a concession even if you don’t need it. I have been surprised how many times I have gotten something extra simply by asking. Plus, it often prevents the other person from demand for an unessential concession they know you will ask for something in return. Remember, your ultimate goal is to give away as little as possible in order to approximately the sale. Every time you discount your product or service you discount yourself and eat away your profits. © Copyright 2004 Kelley Robertson
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