written for Sage Wedding Pros
The Flinch
Usually, the phrase that accompanies this reaction is something along the lines of “your price is what!?” I can see you rolling your eyes now; we’ve all heard it before. Yes, there are cases where the buyer is genuinely shocked by the price, but a lot of the time it is all a dramatic act.
They want you to trip over yourself, to doubt your pricing and consider lowering it for them.
Instead of responding to their flinch, remain composed throughout the act and then calmly speak to them once they are done. Ask the client why they feel the price is high, and you will usually find that their answers are quite flawed, opening a new conversation based on this discovery. A good salesperson can often navigate their way out of this tight corner. Persistence is key here.
The Squeeze
“I can get it for less.” Words that irritate even the most hardened sales veteran. It’s quite a common technique because it works typically for those who use it. It’s a pushback tactic that prepares you to lower your price, naturally because the customer expects it. People are often taken aback by this, and it can be easy to panic over losing them and drop the price. Don’t do it.
Instead, approach them gently and ask them why, as well as who they are comparing you to. Never ask where you need to be because this is a trap that will ultimately lead to a lower price. Hold your ground, defending the pricing and the product, and show them where there is value and how it can benefit them. If you probe to create solutions with the buyer, they will typically back down.
The Sob Story
These will often start with “all I can afford is this…” and “all I have in my budget is…” – don’t fall for them. These are the beginnings of a sob story that has been designed to get you to lower your price. We are empathetic creatures by nature, and it is easy to feel sympathy for someone who is struggling and lower the price based on that alone. More and more buyers are starting to use this technique to reduce costs, and it damages the genuine cases.
Don’t back down on the pricing; you must remain firm because you have no idea if it is a good case or not. Ask them if there are any other budgets that they can draw from, and see if there are different packages or services that might be better suited to their funds. It can be hard to tell who is playing you, but it’s a very clever technique.
After it is all said and done, the satisfaction of your clients is the most important. That doesn’t mean budging on your price; stay firm on that, but it does mean being calm and reasonable during their attempts to negotiate. You need to listen to what they have to say, provide them with justification, and just be yourself when you are selling. Fear of reaction can be difficult to overcome in these situations, but as a salesperson, you need to get used to it; it’s going to happen a lot.