Do your customers complain about your price constantly? Discover negotiation strategies to change the speech and close the sale
Imagine the following scene: You are at the end of your sales pitch and everything is going well. The customer is smiling, you’ve made a great proposal, and you’re ready to place the order.
At the perfect time, you are ready to ask for the sale and sign the contract. Just before closing, the buyer tells you that your price is too high.
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Negotiation Strategies: Tactics for Not Lowering Your Prices
Moments like these are where we separate men from boys. How would you handle this complaint? Would you stay firm with your proposal? If you trade, what is your limit? How does this affect your company and reputation?
This type of strategic negotiation is critical. While some or all of these questions are running through your mind, you have to make a decision quickly: which negotiation tactics to use?
Every salesperson has been through this scenario, often with their customers, and this is how you learn the right and wrong ways to deal with this scenario.
Common reactions we hear from sellers are that you either bargain or give up. That’s a bad thought.
Instead, here are some ways to respond and close the deal on the terms you want, 3 trading strategies that are sure to help you.
You can trade with your customers without lowering your price. You just need to have the right argument.
#1. Let the customer win at something other than the price.
You don’t want to start a price conversation with a big bargain. But just standing firm gives the buyer a way to close the deal.
This is problematic, especially when you’re so close to getting the customer. So, the first step is to agree with the customer.
This makes him feel like he’s giving in. You’re saying he’s right, and your product is expensive.
So instead of negotiating the price, shift your focus to what you’re going to do for it in service, or attention.
Try something like: “You’re focusing too much on the price you’re going to pay, but I totally agree with you. So how about giving your company a free 1-hour tutorial on how to get the most out of our product.”
This is one of the best strategic pricing strategies. Because what that does is change the argument to something you can pay for trading. If the customer starts negotiating prices with you about this, don’t be afraid to give in a bit.
This will make him feel like he’s won a battle, and because of that, he’ll feel fulfilled.
And that’s where you give him something that isn’t a discount, but an extra service. And so, you can again ask for your customer’s signature on the contract.
#two. Be open to product offers
Don’t lower your price. Instead, offer more products at a lower value.
That way, when something says something is too expensive, you can respond with: “I completely understand. For 200 reads less, you can have a version of the product that doesn’t have X or Y. Then, when you’re ready, we can upgrade to the version you want”.
This protects you in 2 ways.
- First, you are not forced to think about how low you would like to go in a trade.
- Second, the customer no longer thinks you’re giving in. With a wide product offering, you can deal with the complaint of not being able to pay for your product and still maintain its value.
The buyer can still go ahead with the deal and then you’ll get him into a contract that you can update later.
Be ready to give purchase alternatives to your customers.
#3. Agree then defend yourself
Some buyers will only continue after you are willing to talk about the price. Again, the advice is never to lower the price. We can talk about various price negotiation strategies, but this point has to be maintained.
Instead, use last-chance negotiation tactics to defend yourself and reach a deal. First, always acknowledge and agree with the customer about your statement.
You don’t have to argue that the price is high. He will be confused and angry at the buyer. After waking up, use one of the answers below depending on the situation.
A) Yes, the price is high but our team is exceptional
Your team is something no other competitor has. It is precisely this team that defends the price based on the group’s abilities.
You want to be focusing on competitive advantages that will push the customer to believe he can’t have the same talent anywhere else. This will help justify the price.
B) All our customers say this before buying
People don’t mind spending money when they see that other people are doing it too. This negotiation tactic is very powerful!
Let customers know they’re not the only ones who think the price is high, but it becomes one of the only ones who haven’t bought it yet. This will then help your customer to move and buy from you.
C) You deserve the best
It is common to assume that we are getting a better product when we pay a higher price.
Use the negotiation strategy of praising your customer by saying how big your deal would be, and that you would only hope they would buy the best. If that’s not working, go back and focus on how big the problem you’re solving for him is.
A few extra dollars to solve a big problem doesn’t sound like a bad deal to anyone.
Show your customers why your product is more expensive: why it deserves the best.
Are you ready to use these negotiation tactics now?
You will come across many customers questioning your price, your payment methods, or any other feature of your service. But, with wisdom and a little practice, you will be able to overcome adversity using these trading strategies.
So start practicing these alternatives to show your customers about your value, about everything you can do to help them, and how your price is just a mere detail.
When you can show your potential customers that your price is just a way for them to get the best, they will certainly see your value as a great opportunity to gain access to what you sell.
That’s what you need: show them that, regardless of the price, you have the best product and the best condition for them.