Talking about Price

Whether you’re working with a new customer or an existing one you’re going to have to talk about price at least once or twice. The problem, especially today, is that most people are incredibly concerned about their finances and most are looking for way to cut back instead of ways to spend more.

Your first instinct may be to lower your price but that course of action is really going to hurt you more than it will help. First, it tells your customer that your product isn’t really priced correctly to start with. After all, if it were you wouldn’t be able to give a discount. Second, it will leave your customer expecting discounts from you in the future – with every transaction.

You need to convince yourself, first, that the set price for your product is the right price. Then you need to make sure that every member of your sales team is convinced of the same thing!

After you are convinced, you’ll be better able to deal more effectively with your clients but remember the following:

• You have to make eye contact when discussion price.
• You need to ask your customers questions so that you can understand their needs and objections.
• You need to prove to your customer that he’ll get a return on his investment.
• AND you need to accept and move on if a client simply doesn’t want to pay the price you’ve offered.

After all, you want to close good sales – not just every one that walks through your door. A client not willing to pay the price for a good product and good service isn’t one you want to hold on to and, as a manager, you need to learn how to tell the difference!

Thanks again,

Sean

Sean McPheat

Managing Director

MTD Training   | Image courtesy of Big Stock Photo