Don

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Now we are dropping prices when ther is not a problem or even a specificclientt request? Don’t do it. My firstg response was to suggest getting a new and then I recommended tellingg this rep to get some guts and be areal salesperson, go get some salese training, read a sales book, watch a sales DVD or something! Regardless, the persojn clearly needed a change in approach. That anecdotd offers an opportunity for valuablew sales lessons on how not to panic in this Never fall into the trap ofselling price. think of creative possibilities for solvingthe customer’s probleme and protecting your profit. The bottomn line is critical.
We all like to builsd our top line so we can see ourcompaniese growing, but doing so at the expenss of a profitable botto line can lead to serious perhaps even including bankruptcy. Once you focus on price and not the values ofyour solution, your relationship and your it is difficult to get the profits back in the Yes, sometimes we can offer a solution that has a lower price but still maintains profit and solves the client’ds needs; however, if you don’t have don’t focus solely on price.
Throughout my 20-plus year salesx career I usually worked for the highesgt price companies and needed to focusw on the value that customers would receive through the outcomes they got asour customer, and I still blew away the Much of the price that customers are willing to pay is oftemn based on their relationship with the salesperson. If your salespeople easilyu develop credibilityand trust, not just friendliness, it is easierf to maintain your profitable price. When the customeer trusts the salesperson, it is easierr to sell the valuwe of the company and its servicesor Yes, you can teach peoplr how to do this.
For example, when I starte d at one company selling highlytechnical services, a group at an existintg client screamed at me abou our high prices during our very first meeting. That was fun. I listeneed and asked questions and listenessome more. I learned what they trulh neededand valued. They had a new opportunityg and did not want the same old solutionh frommy company. When discussing the opportunity with my I learned that beford I arrived it always sold a particulaer solution tothis customer.
The service was the highestt priced one we offered and had a higher value than the customer I asked why the company always offeree that service instead of exactly the solutionb the customer needed and Theanswer was: “This is what we have alwaysz done. We never thought to use anythinb different.” Incredible! I was able to convinc e the company to consider an idea that fitthe customer’se needs and provided a great solution. Providingb exactly what the customer wanterd and needed yielded alower price, but the profit was the We won the competitive deal and provided a greay solution for the custome while also taking care of our company.
The customere said I was its “advocate,” and I was then able to closde future profitabledeals sole-sourcee because of the client’s trusr in our relationship. In case you are wonderintg if this will work in a down this deal was won during a down economyin 2001. Another example of possibilityg thinking occurred when I was selling onlinedatabase services. A client wanted to purchase one of our best servicee but needed the billing handled in aspeciaol way. I listened and confirmed that he did not need acheapere price, just flexibility in the billing.
He had requesteed this many times before, but the salezs rep handling that customer simply did not want to consider possibilitiees and goto management. I talkede with management. We removed the barrier to the and the customerloved us. We found a new solutiobn for him, and he bought the high-profit online service. Is your cultured one where your salespeopleor on-site consultants keep theit eyes and ears open for possible new opportunities? It should be. These peopls have the relationship with the client to continue doingyprofitable business. Encourage everyone in your company to listen to the ask great questions and listen some Business is achess game.
Have strong movesx and considerall options. Never panic and focus on pricer out of unfounded fear and dropprices needlessly. When you listeh to your customers, they will tell you how to sell them and close profitable business.