Can You Help Me On The Price?

What should we say when a prospect asks if we can help them on the price of our product? Do we dive right into negotiating and haggling? Or, do we help them by asking questions and ensuring they understand the value of our product?

Many salespeople get sucked into the negotiating and haggling trap as they sense they have an interested buyer and think they can shortcut the sales process. This is a mistake that costs money and sales.

It’s a mistake because many buyers simply ask the question because everyone likes a good deal. They like to think they got a bargain and saved a few bucks. There’s nothing wrong with this. But in reality, they may buy our product at full price. Let’s repeat that – in reality, they may buy our product at full price! But this is where salesmanship comes in.

Good Sales professionals instantly build value when negotiating and haggling. How do they do this? By asking questions that qualify the customer, and constantly reminding them of the features, benefits, and quality of their product and/or service. A professional response might go like this:

I appreciate your request. We monitor the market closely and set our prices competitively. The quality of our widgets exceed anything else on the market. Based on our conversation, it sounds like this fits your business needs perfectly. Plus, the enhanced widgeter only ensures that it will continue meeting your needs. Would you agree? And the great news is we can have it shipped to you as early as next week.

Building this value does EXACTLY the same thing as haggling in the mind of the prospect. They think they’re getting a good deal, not because of price, but because it triggers the same “good feelings.” Trigger the good feelings!

The best sales techniques will do little if we can’t make our buyers feel good about what they’re buying. Price haggling, while necessary at times, is the low road. The high road is building value in our products and confidence in our customers.

What do you think?

Theo/DH

Comments

  1. Nat Estes says:

    Theo, while I would agree that an ‘A’ player sales rep knows his customers well and how to speak intelligently to benefits and value, I don’t think this tactic is necessarily the best for all reps especially those dealing with companies who have procurement departments. I think that procurement departments spend much more time on pricing intelligence than sales teams do, so if the playing field isn’t even with respect to pricing information, the rep risks alienating the customer despite the value and benefits provided by his widget. Would you agree that managers should use pricing tools/software to bring insight into who is pricing well and who is not? From there, sales leaders can then leverage best practices for negotiating across their reps. Love to hear your thoughts.
    -Nat

  2. Sales Grail Team says:

    Thanks Nat. Great points. Agreed – sales reps are in different scenarios and thus different techniques are required. Sales professionals need to understand the benefit and value, as well as market conditions, that support their price. Pricing data/tools are helpful for any business to be competitive. The goal of this sales tip is to sidestep the price question with value to trigger the same “buy” feelings that discounts do.

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