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Whitepaper on Customer Messaging Must have Adobe Reader 8.0
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INTEGRITY
IN PRICING
By Tom Reilly, author of Crush Price Objections (Motivation Press)
"If you can cut the price today, you've been charging too much
all along."
Isn't that what customers think when you lower the price without changing your
package in some fashion to justify reducing the price? Or, they might think:
"Just how much were you trying to make on this sale?"
I was talking to a friend yesterday, coaching him on how to hold the line on his
pricing. He sells a value-added solution and should be paid for what he offers.
He did everything right to sell the value, but the customer was locked in. You
know how that feels.
He was getting pressure only because the decision maker didn't want to spend
that much, not because there wasn't the perceived value in the solution. I
suggested he change the package to justify changing the price. The new solution
would satisfy the buyer's needs and meet his budget expectations. It isn't the
ideal solution but it works. It's the customer's choice at this point.
He called today to tell me that the customer bought the cheaper package. No
surprise. The surprise came when the customer said: "I like this idea. It shows
the integrity in your pricing." The customer appreciated that my friend didn't
just cut the price--he changed the package to charge less. Guess who has
credibility in the future when selling to this customer?
So, the next time you think about cutting your price without changing anything
about your offer, remember what this customer said about pricing integrity. Let
your competition create doubt about their integrity. It will make your job
easier next time around.
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