What To Do When Customers Want A Lower Price It’s happens to every business owner. A customer wants your product or service, but when you state the price, they want to negotiate a lower price. Even if it’s a fair price, customers will still try to get a lower one. www.cynthiakocialski.com
What To Do When Customers Want A Lower Price • What should you do? • Should you even engage in a price negotiation?
• Should you lower your price? • Should you walk away from the deal? www.cynthiakocialski.com
What To Do When Customers Want A Lower Price The unfortunate truth is customers have learned from experience that if they ask for a lower price, they will most likely get it. They’ve also learned that there is no harm in asking for a lower price. Customers, in particular corporate purchasing people, have developed a long list of tricks to get lower prices. www.cynthiakocialski.com
What To Do When Customers Want A Lower Price If you start down the path of negotiating price then all of your discussions with the customer focus exclusively on price. So what should you do? www.cynthiakocialski.com
What To Do When Customers Want A Lower Price
Here are some questions you should ask you customer: “What do you know about our product?” “How confident are you that we can solve your problem (or fulfill you want)?” ”Are you thinking of our product/service as an expense or as an investment?” www.cynthiakocialski.com
What To Do When Customers Want A Lower Price If you don’t understand the value you bring to your customer, you can’t expect the customer to figure it out either. When this becomes the case, the customer can’t differentiate one product from another and so price becomes the only point they focus on. www.cynthiakocialski.com
What To Do When Customers Want A Lower Price If your customer wants a lower price, develop options for your product or service.
If your customer wants a lower price, offer them one of the alternative options with less features and/or services that meets their price point. www.cynthiakocialski.com
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