Why do you think so many of your buyers and prospects like to haggle on price? Because salespeople give in! But when you give in on price, you’re really letting people know you’re nothing more than a commodity, and all of a sudden they’ll be going to whoever can get them the best deal.
Do you really want to be the cheapest option?
I recently ordered some promotional items. I was only ordering a couple dozen of them, and it was something I had bought in the past. However, this time, I thought I would ask about a discount.
I asked the sales rep, “If I buy a couple dozen of these, is there any better pricing?”
“Sure, half off,” he responded.
I asked, “How many do I have to buy to get that deal?”
He replied, “As long as you buy a couple.”
Holy cow! As long as I bought more than one, and just asked, I got half off! I was speechless.
Really, I would have been happy to have just 10% off. So obviously they left money on the table.
As salespeople, when you don’t give in, it does not mean you won’t get the business. In fact, I would have purchased the promotional items regardless. But the sales rep would have had a whole different level of respect from me.
In my world, when I get someone that wants to negotiate on training I provide, I typically respond with, “Do you really want to hire the sales trainer that you can talk down?”
Every CEO I’ve talked to responds with, “Well, no.”
“What do your salespeople do when they’re asked for a discount?”
“We give them one.”
I respond, “Shouldn’t we change that behavior?”
Of course, that may or may not work in your world. But something you can respond with is, “Let’s pretend I can’t give a discount.”
Then stop talking and see how they respond. It’s very powerful. You’re not telling them no, but you’re seeing if continuing the conversation is of any value to them.
Think about ways you can convey the true value of whatever it is you sell. Otherwise you’re leaving money on the table, and may be losing respect as well.