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Price Dropping Do's and Don'ts
Sunday, June 10, 2012, 4:31 PM
[General]
o Don't withhold prices,Wesley Walker Jersey, both regular and discounted. They will need to have the prices eventually,Cheap Brandon Marshall Jersey, so give them to them upfront,Chad Pennington dolphin Jersey, and deal with the objections as they come.
Here are a few Do's and Don'ts for pricing and what you can do about prospective client objections to the one objection so often heard: "The price is just too high."
o Do give the potential client benefits such as extending a warranty or an additional week on a service. Something that is of minimal cost to you but means a lot to the potential customer.
o Do demonstrate how the higher price of your product will actually lead to a lower cost and translate into measurable savings for your prospect.
o Don't give the potential client inflated prices well above what a third-party would offer. Yes, your services and products are valuable,Cheap Carson Palmer Jersey, but don't price them out of the reach of the middle class business, and by the same token, don't under price them to get a sale. Place the price on what they are valued at.
Don'ts
o Do show your prospect how; by paying more at the outset for the product, he or she will eventually receive cost-saving benefits such as higher quality,Roy Williams cowboys Jersey, fewer breakdowns, higher productivity, less downtime and a longer product life.
Do's:
o Don't offer a price reduction for a longer-term contract. Automatic renewals are another no-no, this denies the customer the face-to-face contact with you and it diminishes the trust quite a bit.
o Don't offer something as a 'required upgrade' such as IT services for $100K, and then lower it to $75K when it can be had for $50K. Customers do homework,Cheap Joe Thomas Jersey, also.
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