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As Salespeople, we are often faced with this ploy by the educated buyer.
It may be quite sincere, there may be in fact someone who is prepared to take a lot less for what we do.
It doesn’t mean you will lose the business- it’s just a jolt to let you know you haven’t yet shown the buyer enough value in your proposition so they can see the difference in your offer over your competitors.
The secret is to get deeper into what is being offered to make comparisons on your “Full Solution”.
Here are some of the ways I do this by asking:
1. Are we dealing apples for apples here?
Are the products actually like for like or is it like comparing a Mercedes to a Holden?
2. What about our full experience?
Is there something we are adding as standard that the competitor either hasn’t thought about or are making the buyer to pay extra for?
3. Our level of Experience
How many years or what qualifications do we have that our competitors don’t have?
4. Our Guarantee
What type of guarantee are they giving?
5. Our Physical Materials, Products
In the building trade this might be the quality of the timber etc. In the Consultancy business it may be the manuals, DVDs, CDs etc. In the phone business it may be the make of the phone.
So what do we do if we are pushed on price?
Expect the question and be armed for it.
Make the comment in every market that there is the premium provider, the low cost producer and the “Value for Money” proposition.
We are positioned at the “Value for Money” end.
Ask “how far apart are we”? Find out what you are dealing with.
Ask “Well if we were to meet a similar price what would you like me to leave out in our proposal?
Look at packaging
Can you offer something unique in your package which makes it impossible to compare the 2 offers.
When all else fails and you want the deal, ask the prospect “What would we need to do to get your business?” It’s an old question but still a good one.