Do You Fold Like A Taco?
Have you ever eaten a soft taco? The shell isn't hard - it is
soft - and folds over really easily. They are delicious! In
business, however, I see too many people fold like a taco when
they are negotiating with a customer.
It's not pretty.
The customer may not even be asking for a discount/added value
but at the slightest sign of hesitation a.k.a silence - the
salesperson drops the price or keeps throwing in extras "to
sweeten the deal."
This isn't called selling - it is called Folding Like A Taco.
Get Comfortable With Asking For The Investment
This Sales Diva does not believe in CLOSING the deal with a
customer. I see it as OPENING the door instead. I also know that
in a relationship (which is what you should have with your
customer by the way) there is some give and take involved. But
you can't be the one doing all the giving!
So follow these 4 steps:
1. Come in with your best offer right out of the gate. Years ago
when I sold television advertising with Canada's largest
networks - I had a client that always asked for every concession
FIRST and then they tried to bounce the offer back and forth
between competitors.
However I have always had one rule. Integrity.
I will never forget the conversation with my customer. When he
said the other TV station had dropped their price, I asked the
owner a question. " Roger - what would have happened if I hadn't
brought this proposal to you? You would have paid the full price
that they were asking. In essence - by dropping their price so
quickly - they have shown you they were overcharging you in the
first place. I brought you the best offer right out of the gate.
Our product is like yours - extremely high quality - and I know
that you always stick to your word with your customers- just as
I do. My offer stands."
He looked at me and there was a long silence. He said " Kim - I
never thought of it that way. I will go ahead with your
proposal."
HOORAY!
2. Don't start your conversation with price. Give your customer
the investment only after they understand the major benefits of
your product or service. If you start with price - I guarantee
you are heading down the rocky road of objections.
3. Allow the customer time to think. Just because there is
silence doesn't mean you need to start "folding your price." Let
them think it over.
4. Look at the word COMPROMISE in a new way. You know what the
dictionary has to say on the word COMPROMISE? " A settlement of
differences in which each side makes concessions." Look at the
word this way: CO-M-PROMISE. Basically it is a promise made by 2
or more people to meet in the middle. It isn't called ONEPROMISE!
If your customer is genuinely concerned with the investment -
then you have some choices. You can either fold like a taco and
drop the price considerably. (Not a Diva recommendation!) Or you
can provide added value/decrease in pricing based upon a
commitment from them in a volume buy, or repeat business over a
duration of time. You can also decrease your price but also
delete some of your services as well. Say "I can definitely work
within your budget, however, we will have to reduce "this" from
the package.
Remember - Desperation Isn't Pretty!
Once you have established a relationship with a customer that is
based upon you folding like a taco - you will find it very
difficult to increase your rates in the future.
So stick with your guns, believe in yourself and what your
business brings to the table!
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