Discounting your price not only cuts into your commissions (and company margins), it doesn’t always work, and it can leave you feeling used.
Everyone Wants a Discount
In today’s economy, everyone wants a lower price.
I’m getting emails and calls every week from sales reps around the country who want to know what they can do to deal with prospects and clients alike who are looking for discounts and even threatening to take their business elsewhere.
“I can’t go any lower,” they tell me, “And certain clients just keep low balling me and working me for more discounts. What should I do?”
If you are dealing with this sort of thing as well, then I’ve got some specific advice that will not only work for you, but will make you more confident and successful as well. To start with, you have to admit the truth:
You can only go so low with your price. Some people will buy, and some won’t. Period.
Why You Shouldn’t Lower Your Prices
Continuing to lower your price not only cuts into your commissions (and company margins), it also doesn’t always work, as you know.
And the worst part is that after you’ve jumped through all the hoops and your client still doesn’t buy, you feel used and abused.
And that feeling is even worse than not getting the deal because it kills your confidence and makes you a weaker closer.
After a few days or weeks of taking that weak attitude onto each additional call, your prospects begin to hear that defeat in your voice and you just keep getting beaten up over and over again.
Want a Better Way?
Adopt the attitude of the Top 20% and do what they do.
To start with, the Top 20% know that the two greatest feelings in sales are:
1) Getting a deal
2) Keeping control of the situation by using a takeaway and leaving the call with strength.
The Top 20% know that not all prospects and clients are going to buy, and they know that staying strong and using a takeaway is the only way they can leave the call successfully.
Try Out This Script
Here is what they say after they have made their best offer and the prospect/client is still trying to get them to go lower:
“[Name], I totally respect that you’re trying to do what’s best for your company right now, but the offer I’ve just made is the best I can do and still give you the (level of service, quality, value, etc.) that you’d expect and be happy with. If you can get this somewhere else and it fits within what you’re willing to pay, then I’ll just have to understand and hope that I can work with you next time. I’m here for you now, but the decision is up to you— what would you like to do?”
Call Their Bluff, Build Your Confidence
Many times calling their bluff like this will get the prospects/clients that are deals to stop hammering you for price and sign up.
And those who walk? They would have walked anyway, and now when they do you’ll have remained strong. Just like the Top 20% do.
Try this takeaway close this week, and watch your deals go up and your confidence rise as well.
On Friday you’ll go home with more money, and you’ll feel better about yourself. And that’s what being a Top Producer is all about!