31. Are you implying too much flexibility?
For example, if someone asks for a price on 10 cases of a product you are selling, you would not want to say; "somewhere around $149" if the price was, in fact, $149. If you were presenting a price on a service you were selling and the price was $24.90 per hour you shouldn't say "somewhere around $25." By using the term "somewhere around" you have opened the door for the buyer to assume the price is flexible.
State the price firmly like you mean it. Many people don’t state the price firmly and unknowingly open up the door for the buyer to start working on their price. Sometime the person presenting the price will do so giving a range rather that a firm price.
For example: “The price is between thirty five and forty dollars per case.” This response signals a lack of confidence in the price quoted and encourages the customer to start working down the price, not from forty dollars, but from thirty five dollars.
Practice delivering your price with a tone of confidence. Deliver it with the same conviction that you would use to give someone your phone number.
"What are the last four digits of your phone number?"
5197 - Not “between 5196 and 5200”.
What month were you born?
October - Not “somewhere between September and November”.
If you signal with words such as "about" or "roughly,"' the buyer will take this to mean that you can go lower. If you do imply flexibility follow the other rule of selling - ask for more than you expect to get, because you may need the room.
Flexibility is a tool you can use - sometimes you might want to imply a certain degree of flexibility.
For example. Lets say a customer is looking for 100 cases of your product. You know that the customer has shopped around for a couple of other quotes. Giving your price too firmly may cause you to lose the business. However, giving your highest price and slightly implying that you are willing to work with the customer will open the door to a possible sale that would otherwise be lost.
But remember - flexibility is a tool - a strategy to use when the situation calls for it.
Comments:
When you quote someone a range, or a rough estimate just know they intend to start to work their way down from your bottom price. Not only that, they feel you have opened the door for "offers". That implies you have complete control over the price, this throws the higher authority strategy out the window. This is used on client by client basis too. If you know what the competitor has quoted room for negotiation may be necessary in gaining the business.
Brooke Knight
I don’t believe that flexibility is weakness. When you’re shaking about the price and you have little to no confidence in you or your product, then that is weakness. I do think that it’s important to be firm in the price and know that the price you’re giving them may be a little high but the service that YOU offer is more than well worth it. If you do decide to open it and sound flexible, be firm with it. Display the confidence that if you are willing to go down, it’s because you want to help that customer and you’re willing to work with them not because they control the situation.
Matthew Thacker
This articles points out something that I am instilling in people that are training. People are most sold by your conviction rather than your persuasion. People have to buy YOU before they buy from you. I think with practice and role play you can cumulate the confidence you need to quote rates with authority. It’s the ease that comes from practicing or real life applicable experience.
Kristan Wilson
Look them in the eye as you give them the price. It is your product, be proud of it. Think of it as “spiking” the ball after a touchdown. You know this is the best product for your customer at a fair price. Be proud of it.
Do you think people who buy a Lexus are not looked in the eye when given a price? They know they are buying the best, a product with a track record. If they wanted cheep they would have gone to the “cheapo depo” and bought a older car, at a cheaper price with less or unknown dependability.
Trip English
You say flexible, translation weakness. Again, my hand goes in the air. I do have a problem with this, because one senior salesperson says give the best price the first time, and another says start high and come down. And which is best, it depends on the client. Sometimes high price scares away potential business, but on the other hand if you give the best price first, there is no room for negotiation…again reading your client and getting as much information from them before providing any numbers is the only way to go.
Kathie Luttrell
There is no flexibility in menu prices at a restaurant so there should be no flexibility in proposing the cost.
A roast beef sandwich is not "about 7.99".
Roland Degregorio
"If everyone is always beating you up on price, maybe it is because of the way you are presenting it. Presenting your price with implied flexibility should be used as a tool, not as the normal way you present it."