Sell At Your Full Price, Avoid Giving Away Profits

Greetings!

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?"