Welcome back to the Bitrix24 Partner Sales Course! It's good to see! In this lesson we're going to talk about the final part of the sales process - price negotiation.
Now, this is your make-it-or-break-it moment. If you fail at price negotiation, it will ruin any progress that you've made prior to that. When you begin negotiating with a customer, you have to be prepared to fight back.
A lot of customers are really good at bargaining, and they use all their skills to knock the price down or bag for a discount. Some could even go as far as giving you an ultimatum - "I'll only buy it if I get a 25% discount". - How do we deal with this?
Well, first we have to understand the reasons that make clients act like that - it's essential for your success as a salesperson. Despite what you may think, your clients are no different from you in the sense that they also want and need to sell something. Every entrepreneur's goal is to spend as little money as possible and make as much as possible, which means that every time there's two businessmen trying to make a deal, you've got a conflict.
And a massive conflict that is! Obviously, your clients come prepared as they're armed to the teeth with solid arguments like "I can get it cheaper elsewhere" or "The price is too high" or "I got only x amount of money and not a dollar more". The ultimate goal for them is to put you in a position where you would eventually have to agree to their terms.
Obviously, you can't make that happen, this can be discouraging for a lot of salespeople since they easily give in to the client's pressure or manipulation, which is a shame. Really, you have to stand your ground and fight off any of the customers attempts to manipulate, threaten you, or throw you off. See, millions of people around the world have no problem with paying $1000 per piece of plastic called the iPhone.
Why? Because they know what they're getting in return. The same thing with every other product or service - you have to explain to your customer exactly what they're getting for the price asked and why it's worth it.
Of course, there's always discounts, promotions, and sales but they all have to be used with caution. Once you've sold something to a client at a discount price, it will be virtually impossible to sell the same item to the same client again at a regular price. Plus, you're not allowed to give discounts at the expense of your own margin - as stated in the official Bitrix24 Partner Agreement, and you know, it's a rule that's not to be broken.
Non-compliance may lead to the termination of your Partner Agreement - not a good way to go. Anyway, now that we know WHY customers are so eager to haggle over the price of your services, let's see exactly HOW they do it. So, here are three main techniques buyers use to negotiate prices.
Number 1. The client starts devaluing the offer like it's not really worth the money or effort. Number 2.
Sometimes clients would try to appeal to your emotions in order to invoke a sense of guilt or sympathy. - "Please, we really need that discount now. You know, business has't been really good recently, and they have to put yourself in my shoes", blah, blah, blah.
. . This is a pure manipulation.
Don't buy it! Number 3. There are clients who take an aggressive chance and strike first using ultimatums and other threats.
Now, whatever it is your client is doing to negotiate the price, remember one thing - the more they bargain, the more they really want your offer. If a client is negotiating, it means that they've already decided to get your product. The only question is - in which terms.
If you want it to be on your terms, you have to stand your ground and use your arguments to justify your price. Here are a few phrases you can use: 1. "I understand that you might have your own interests and are more than willing to cooperate with you, but.
. . " - and then list your arguments.
2. "If it was my product, I would be more than happy to offer you a discount but, unfortunately, I'm prohibited from giving any discounts by my Partner Agreement with Bitrix24. However, I assure you this is the best price you'll ever get for this set of tools in the market - and that's not including 24/7 customer support, regular updates, and improvements.
So, what do you say? " Example Number 3. "Unfortunately, we're not allowed to give product discounts but we can offer you.
. . " and then list some of your services.
For example, employee training, or enhanced support. Number 4. "You have to remember that Bitrix24 is, in fact, an all-in-one solution and it features CRM, tools for communication and product management, website builder, telephony and even more.
If you get Bitrix24, you simply replace all of your tools that you're currently using and paying for, which, if I've done my math right, will save you up to X amount of dollars per month". So, these are some of the lead up phrases you can use to prepare the client for your arguments. Be sure to practice them and you will see the results coming in almost immediately!
The more you practice, the better you become at price negotiating. Meanwhile, our today's lesson is over! We've gotta thank you very much for your attention and see you real soon!
Good-bye!
