There is a test that professional buyers give sales people to negotiate price. Listen to this episode to see if your sales people are flinching?
When I look at the money I’ve earned, I venture to guess that I’ve added 20% to my family bottom-line by using a technique learned from buyers. Whenever I see a price, I react… “Wow, I didn’t think it would be this expensive.”
Then, I shut up and watch the reaction of the salesperson. Most of the time, they respond with…
“Let me see if what I can do.” Or…
“Let me talk to my manager.”
As soon as they say either of those, I got em. The squeeze is on!
Like I said, I learned this from working with procurement officers for umpteen years. I call it “The Flinch Test.” Professional buyers react with shock to the price to see what the salesperson does…to see if there is a flinch.
When your salespeople present pricing, are they prepared for the flinch test? Or do they come running to you saying that you need to lower your price or they’ll lose the deal?
Think about this… If your salespeople don’t feel that the price of your solution is worth the client investment, why are they selling for your company?
See you next time on the Sales Management Minute.
Lee B. Salz is a leading sales management strategist specializing in helping companies build scalable, high-performance sales organizations through hiring the right salespeople, effectively onboarding them, and aligning their sales activities with business objectives through process, metrics and compensation. He is the Founder and CEO of Sales Architects, Business Expert Webinars and The Revenue Accelerator. Lee has authored several books including award-winning, best-seller “Hire Right, Higher Profits.” He is a results-driven sales management consultant and a passionate, dynamic speaker . Lee can be reached at lsalz@SalesArchitects.net or 763.416.4321.