Good salespeople and sales organizations work hard every day to provide the best service, product and personnel. Unfortunately, these same organizations can end up with declining margins and profits because the customer is demanding more and wanting to pay less. So how do top salespeople and organizations get out of the “price objection game?”
#1 Rule - Be willing to walk. People pay thousands of dollars for negotiation seminars. Let me save you a few bucks. Negotiation 101 is being able to walk away from a deal. If you can’t walk from a deal, you will never get paid what you are worth. It takes two to play the ‘price game’ so stop playing! Too many salespeople discount too often and too soon, resulting in no respect and distrust. (Why didn’t you quote that price in the first place…..)
If you don’t think you or your product is worth it, why should your prospect?
#2 Rule – Make sure you are in front of the right prospect. Not everyone deserves to be your customer. If you are in front of a prospect who has made it clear that price is the only issue, thank them for their time and give them a referral to your biggest competitor. The competition will be distracted writing proposals that are going to get shopped to death while you focus on customers who value what low prices can’t buy: excellent service, expertise and YOU!
#3 Rule – Never forget you are worth it. This is the biggest reason that top salespeople get paid what they are worth. And it has nothing to do with selling skills. It has everything to do with their own self worth and self regard. Don’t sell yourself short. If you work hard, deliver excellent service and are an expert in your field of expertise, you are worth every dollar you charge and commission you earn.
Good Selling and Consulting!
Chief Selling Officer