An all too easy trap to fall into when you are negotiating an order, is to reduce your price.
Yes everyone likes a bargain but if it is your business, what you are losing is profit/income/money.
Any reduction you make in the selling price goes straight to your profit line and nowhere else.
So think very carefully before you take this step.
What you are selling is value to your customer, and as the saying goes ‘Value does not have a price’.
As mentioned before, your customers buy on needs. If your product meets them – no more no less, the price quoted is smaller factor in your discussions.
In these discussions you focus on the area around meeting these needs and emphasising for example that your product will fit into their system and work ‘out of the box’, hence saving them time & money.
The problem with value is that it is intangible so it you must understand the customers requirement and needs.
This is where the relationship with your customer pays dividend, understanding the person and his/her business.
If you can build this rapport you no longer are perceived as a sales person but a colleague from whom advice is listened and accepted.
Who would you rather be?
A person who gets the business at any price
A person, who gets the business, brings value to their customer and sees repeat business because of this.