How To Master The Art Of Cold Calling And Increase Your Sales
“I don’t care about those differences. Price is the only thing that I care about. If you want me to buy from you, you are going to have to cut your price!”
Is Reducing Price the Answer?
Customers just don’t say “Wonderful, yes I am ready to pay you that kind of money.” Rather what they tend to say is “Listen, I can get that from someone else for less money. We buy strictly based on price. Price is the only thing we look at. What buyers do is they prey on your belief that, all things being equal, people do buy exclusively based on price. And buyers can make such convincing “liars” if you allow them to.
3 Reasons why buyer “lie” about your price. There are 3 main reasons why buyers insist that pricing is the only thing that matters.
1. Most legitimate buyers really do believe they buy on price
As buyers we will place a dollar value to any products or services that we buy. For example, if you want to buy the latest headphone, you probably will go online to research on the latest offering and then make a product and price comparison. You will remember the prices of the products and you will probably tell yourself how much you will be willing to pay for the features you want. Yet if price is our only consideration most of us will never buy Beats headphone. Instead we will buy those $5 crappy wired headphones that probably last only a few weeks. Therefore buyers will buy based on price, however they will buy based on price categories. And salespersons’ role is to educate the buyer on the right comparison for their products.
In order to get you to cut price, they will always try to place you to your nearest “cheaper” competitor and then tell you they want your product for your competitor’s price.
2. Most buyers don’t consider it as lying instead they consider it as negotiating
The truth is people will say that they buy based on price and they will fervently and persuasively tell you so. To them this is just negotiation. You can go to hell for lying but you get a lower price for negotiating. And that is not such a bad outcome! Think about it, while the prospect is still negotiating with you, they will never tell you their true position. Rather, they are trying to persuade you to change something (price) to better suit him or her. Buyers will tell you anything to get you to do one thing; cut your price. The easiest way is to do so is to tell you convincingly that price is all that matters!
Never succumb to price cutting because buyers may just be negotiating with you.
3. Nobody likes to pay more for anything and everybody loves a bargain
Asking for price reduction is something that most buyers do. From buyer’s experience, when they ask hard and often enough they do sometimes get the price reduction that they want. Secondly, asking for price discount always ensures buyers that they are getting the best price for their purchase. So in essence you don’t always have to reduce price, rather use this opportunity to explain the reasons for your price. Therefore the next time, buyers ask for price cut,
Do not reduce price, instead try reassuring them that they are getting their money’s worth!
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