If you’re in business, you’ve probably come a across an aggressive prospect that’s looking to play a game of “let’s make a deal” by offering the promise of future business to receive better pricing on the first transaction.
“Future business” may include increasing the size of a future order in terms of dollar volume or referring other prospects that may be interested in your services.
There’s obviously a need to meet the expectations of a potential client without telling them to take a hike, but how do you manage a prospect that’s looking to take the upper hand by using this rude and aggressive sales tactic?
Put Prospects In Their Place: I’ve never had a problem with prospects when it comes to negotiating pricing. It’s a part of business and negotiating can actually be fun. It doesn’t matter if you’re selling consulting time, widgets, data, or contracting services, there’s always a way to make a deal work if both parties are fair and cooperate.
When a prospect is looking to receive better pricing on a contingency basis as a result of knowing “a lot of people” or the ability to “blow your business up”, watch out. It’s important to reinforce the value of your product or service by making sure to convey to the prospect (politely) that you’re doing them the favor, and it’s not the other way around.
Never Give Free Samples: Some prospects will push to create free or cheap options to decide if you’re the best vendor. By catering to the demands of the prospect and offering “free samples”, you’re giving the potential client the upper hand, wasting time, and increasing the likelihood that flaws will be found in the service. It doesn’t matter what you’re selling, flaws will be found as you’re compared to other vendors.
I’ve disarmed several lead generation prospects that gone down the path of skepticism to gain leverage. Wheelers and dealers will ask: “How do I know if your leads are good?”, “What happens if they’re bad?”, “Can I have a free test batch?”, etc. Proof of concept is important, but never sell yourself or your products short.
It never hurts to disarm by using humor. Ask the prospect if they’d ever ask a drug dealer for “free samples” and see what their response will be. You’ll gain respect by using simple analogies like that. Get your pen ready, because you’ll be putting ink on paper in no time!
Part Ways Like A Champ: Parting ways can become incredibly awkward for a prospect that has made previous claims of sending future business “your way” after their pricing needs are not met. They’ll say something to the tune of: “I’ll definitely keep your number handy” or “keep me posted on new services“, etc.
Emphasize the benefits of doing business together and not the features of the product or service that your selling. Let your prospect know that you understand that they’re price conscious, and that’s acceptable. End the conversation quickly, because there’s no sense in restarting the negotiating process again. Your time is valuable. Make prospects realize that you’re in demand by others.
By “keeping it real”, prospects will usually end up coming back with a counter offer or just decide to work with you. If you can eliminate the sales BS during the deal structuring process, you’ll set realistic expectations for your clients. Set the bar high, and exude professionalism. If you don’t put the roast beef on the table, nobody will eat. Be clear as to what the deliverable is and demonstrate that you’re “game on” when it comes to always having the best interest of the client in mind.
Rinse, lather, and repeat…
Tags: biz dev, business, business development, business development strategies, client, clients, find business, free samples, get client, keep it real, keeping it real, maintain client, negotiating, negotitation, professionalism, prospect, prospects, sales strategies, sales strategy, sales tactices
Now post what I taught you tonight and toss me a backlink for it
I took my first loans when I was very young and it supported my family a lot. But, I require the credit loan as well.
Set your own life easier take the home loans and all you need.
I guess that to receive the loans from banks you ought to have a good motivation. Nevertheless, one time I’ve got a term loan, just because I wanted to buy a building.