DO YOU DISCOUNT OR DO YOU NEGOTIATE?
The obvious question that should be asked of any salesperson is, DO YOU DISCOUNT OR DO YOU NEGOTIATE? But most in sales, either retail or other methods, are mostly not aware of how they go about their trade. What they are not aware is that the true art of Salesmanship is not to haggle on price, but to sell on quality. Another factor is discounts have no place in professional selling and never will have. Here are seven points for you to consider.
1. Professionals Give Top Service
Would you trust a doctor who discounts to get your business be it for his/her services, or major or minor operations? Of course not, professionals charge competitive rates and don’t give discounts. In place of a rock bottom price a professional gives what his prospect wants above all – top quality service. And you’ll never buy top quality service at a cut price.
2. Professionals Sell Products of Quality
Does Mercedes Benz give discounts? No top end of the market supplier would dream of giving discounts. Their product speaks for itself. The professional seller knows how to sell his product as a Mercedes within his industry. But in today’s climate, many Mercedes products are sold at Volvo prices anyway, and there’s no room for further margin reductions.
3. Professionals Negotiate
Negotiate something In place of a discount throw in something of value. What seems valuable to your prospect may simply represent a few dollars to the seller. I’ve given away a chemical pack valued at around $100 to consolidate the sale for years now. The fact is, it cost me around $40 out of pocket to earn thousands in commissions.
4. Professionals Write Down Everything They Negotiate
This eliminates come-backs later. Both parties can clearly see what is on offer and once complete, the negotiation is already written on the purchase order. This is another way of closing, then consolidating the sale.
5. Value Building Greatly Reduces Discounting
If you’ve built value properly in the first place, there should not be the need to discount. If you sell quality, price will not become the issue.
6. Every Negotiation Should Pay Dividends
If you find that there is no other way of securing the sale, then apply the Win/Win concept. This way both parties will need to forfeit something. You may reduce the warranty period for a discount, or re work some of the clauses. On the other hand, you may bargain for referrals. And to me, this is the best method, because it helps recoup losses and increase business at the same time. Besides, the more you negotiate the more referrals you write.
7. Discounts May be Used as a Substitute
There are many sellers who are prepared to pay ‘spotters fees’ for referrals. Your discount can be used in this way too. But a point of caution here, sign them up first with the discount, then don’t deliver the goods unless they’ve made the required appointments on the spot for you. If not, you’re in the drivers seat and can use any form of beverage you feel would be of value. No matter what you do, or what you negotiate, work at creating and obtaining a Win/Win situation each and every time you end a call of this type. And remember – don’t discount – negotiate.
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This Article is by Peter Collins – In a sales career spanning more than 53 years, Peter Collins has focused on helping and bringing out the best in others – whether it involves training or mentoring salespeople, managers, business consulting to SME’s. Since the 1970’s Peter has built a reputation as a Nationally and Internationally Published author, and has 68 business books to his credit, but he is mainly known for one book based on the Audio Tape series of the same name, Over 50 Ways of Closing the Sale. Peter had his first book published in 1969 and now has over 133 books in all, including Business, Marketing, Sales, Free Publicity, Body Language, Music and over 30 Christian books to date. Peters books have sold over 2.5 Million copies of his books over 49 years. In his personal life, Peter has been sought after as an encourager and motivator that has given of his time and talents freely despite his busy schedule. Subsequently, he has assisted churches, pastors, community and charity groups, as well as individuals through his teaching, training, development and on-going mentoring.
© Copyright Peter Collins, Profit Maker Sales, Sydney, Australia, 1994, 2002, 2007, 2011, 2015, 2017, all rights reserved. Peter can be contacted through his website – profitmakersales.com
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