THE LAW OF SELLING: NEVER LOWER YOUR PRICE
Every one of us has one aspect of our job we would rather not get involved in, for some it’s selling.
As far as selling is concerned, what’s the first mistake common to many of us?
The first selling mistake commonly made by many professionals is that they don’t ask enough questions to allow the customer, to help define the customers’ needs and become the first choice of the buyer. When you are operating in a professional sales market or product to a product sale, you are up against extremely competent opponents, and you want to ensure that you are their preferred solution choice. How do you become the preferred choice for the buyer? This is achieved by lessening the risk of the buyer; well risks are in two dimensions, personal risk, and business risk. Well, you want to lessen the level of both risks and emerge as the buyer’s preferred choice. And we can discover from our customers if we are their preferred choice or not by asking them; if not for the price, would we still be your preferred choice? This is followed by a very important question “why?” yes, because if a customer confides in you the reasons you are his preferred choice, he already established in his mind the value you adding to him and it enables you to know why as well as understand why you are qualified to charge a premium price for your product.
I recommend that we should not reduce our price. Yes, I do understand that customers are constantly asking for discounts.
You may be asking yourself is there a way out?
This is an important topic, and it is something you should expect that the buyer will ask for, it is very normal, particularly under this type of economic condition. So, the topmost thing you need to do first is to re-establish that you are the preferred choice of the buyer. Next to that is to really recognize the value you provide. If you have no idea of the kind of value you provide, you’ll always be intransigent and defensive. Furthermore, you should prepare yourself ahead because you are going to get crushed, you have to anticipate it, you have to be aware of what you are up against and prepared to tackle it head-on. And as a matter of fact, you may get to this stage where they crushed it, and you will be like, bring it on, you already crushed me once, twice thrice, I’m ready to protect myself against any crushed, consequently, it is something you want to look forward to and anticipate.
Never give without getting; let me clarify what is. Having a generous attitude and rendering excellent service to your clients is certainly one of the factors that will ensure your success as a sales professional and talented entrepreneur, and more importantly your negotiation skills, making business deals while still retaining your generosity, you also should give your customers that opportunity to show some generosity as well. And they might call you up, we are sure you wouldn’t mind arranging an additional meeting with us, your response could be; well that’s just fantastic, it would be great to meet with another team member in the company that would gain something from my services and maybe might referred me to another individual or be a reference and let it be a seed sown for the future. You are sowing quite a lot of seed for the future, and you should afford them this opportunity too.
In return, this will allow you to realize how crucial your service is. Here is an example there was this client that needed a special report which would take me 3 hours of my time. Well, this is an age where everybody is time conscious, and so when they asked if I help you with this report, can you please link me up with this CFO/COO senior executive? And they concluded that it is not that important. Therefore, it enables you to evaluate or find means of determining the worth or value of something. Consequently, 2 to 3 hours of your day is crucial, and it comes with so much stress, hard work and productivity and any other thing that comes with it, and they didn’t consider it important enough to refer you up.
Therefore, it allows you to evaluate and determine those things that are essential and those that are not.
Following these suggestions, you’ll improve your chance of winning the negotiation. And there won’t be any need for us to offer discounts while we developed awesome relationships with our customers.
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