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Sell At Your Full Price, Avoid Giving Away Profits

It's an age-old dilemma: salespeople dropping their price at the first sign of resistance, or request for a better price. And the ones who do it, who cave in to price statements and questions, give away pure profit. Usually, needlessly. But perhaps they don't have the confidence or know-how to avoid it.


As I mentioned last week, a workshop I presented at the National Speaker's Association national convention was, "Selling at Full Fee: How to Ask for Your Price and Get It." Here are some of the ideas we discussed...concepts you can use as well to avoid giving away profit.


Raise your value, in their mind, or the cost of the problem, higher than your price. It's quite simple, if a buyer perceives their potential return as higher than your price, then price is not an issue to rational people. Ask questions to get them to attach dollar figures to pains or problems.


"What does that cost you?"


"How much extra time does that take?"


Delay discussing price until you have established value. If asked early about price, respond with something like, "So I can give you the best price for your situation, let me ask a few questions..."

State your price with unwavering conviction.
If you hem and haw, that indicates you are not firm with your price and it's open to negotiation. Say your price with the same confident tone of voice you would use if someone asked you in which city you live.


Price comments are not price objections. When someone says, "Wow, that's more than what I expected to pay," they are NOT saying they will not buy. You do not even need to respond. However, many sales reps offer to cut price at this point.


Have a quick response to "Do you discount?" How about, "No, that's the price." Or, if they ask, "Can you do any better on price?", say, "That's the price." Simple. Most good buyers will always ask for a better price because they have nothing to lose. And they often succeed.


Qualify for money. I do not like asking about budgets, since it can kill a sale when they say their budget has been spent. If they want something badly enough, they normally can find the money for it, if you are talking at the right level. Sometimes, however, you need to learn if you are even in the same ballpark. In my business, we say, "He is one of the most experienced, in-demand, and therefore highest-priced trainers in this field. That's not a reason for us to stop talking, is it?"


Help them find the money. In some cases, perhaps the money might be tight. Then ask about the past: "What have you done before when you wanted something that would give a return on your investment, but did not
have the funds available?"


Author: Art Sobczak
About the Author:
Art Sobczak, President of Business By Phone Inc., specializes in one area only: working with business-to-business salespeople--both inside and outside--designing and delivering content-rich programs that participants begin showing results from the very next time they get on the phone. Audiences love his “down-to-earth,” entertaining style, and low-pressure, easy-to-use, customer oriented ideas and techniques.

For more information about this author/company, click here.

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