Expert Insight From wILL bROOKS

Are Buyers Leveraging The Economy To Push You To Lower Your Price…Even Though It May Be More of a Negotiation Tactic Than A Legitimate Objection?

This month’s article about price is extremely timely. Why? Because while the economy is showing some positive changes and the B2B selling environment is starting to move, we, as professional salespeople, are most likely going to continue to encounter price objections and buyers who demand discounts in spite of how well we're able to build the value of what it is we sell.

In my opinion, this is because buyers are in many cases going to continue to leverage the “bad economy” (even as we’re seeing some signs of a turnaround) to get a better price out of you. Buyers are in more control than ever and when you couple that with tighter budgets than in the past, you get prospects and customers who are asking for discounts and concessions.

While limited budget realities are still definitely there, you need to be keenly aware of what business is worth pursuing and what isn’t. Here’s why: more often than not, when you set a low price watermark on the front end of a client relationship, you’re going to be stuck in that position going forward…regardless of global economic strengthening and larger client budgets. Further, your client will expect low prices and discounts on any other products or services you may offer them. Many times, it’s a losing situation for you, your organization and many times the reputation of both. After all, low price buyers are only going to refer other low price buyers!

In closing, remember this: “The one who loses in the negotiation process is the one who isn’t prepared to walk away.” Revenue is key to all of us right now; however, guard your margins and make sure a piece of business isn’t costing you and your organization more than you gain.

Enjoy this month’s newsletter!

Sales Management: Not for the Timid or Faint of Heart

At the very heart of exceptional sales performance is an excellent sales leader—whether it’s a field manager, a sales executive or, in smaller organizations, it could even be a CEO.

Leadership is fundamentally all about setting an example. It is also about role modeling and personally exhibiting characteristics that salespeople need to practice in the field. Specifically, that means getting actively involved with issues such as pricing problems, delivery glitches, calling on difficult customers or prospects, working longer than the required hours, traveling to difficult-to-get-to locations, resolving conflicts between various constituencies and a whole host of other unsavory, distasteful things that fall into the lap of every sales manager.

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The 10 "Don'ts" of Presenting Price

What’s your least favorite—maybe even dreaded—part of selling? For many salespeople, it’s presenting price. It’s just a number — but in a professional selling situation, price is often an emotional number. It encompasses everything from simple matters of ego (who wants to admit they paid full price?) to the more basic matter of business survival (if your sales aren’t profitable, you won’t be in business for long).

But too few salespeople realize that the battle over price often starts with the baggage YOU (the salesperson) bring to the transaction. Confidently presenting price begins with what you personally think and feel about the price you’re asking—because no matter how hard you may try to hide it, your personal perception of how legitimate your price is will color your customers’ perceptions as well.

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