Thoughtful Thursdays – Ask yourself why
Last week I ended with: Don’t be afraid to ask “Why?” I did not specify who to ask. The post inferred the question would be directed to the prospect.
Today’s thought re-directs that question internally to you.
The reasons sales people drop prices are numerous and varied. Arguably it is the easiest way to make a sale. When asked.why it was done, most will respond that the sale would have been lost otherwise. Assuming we are not talking about commodities, it is a best practice to ask yourself a few “why” questions before making your decision.
- Why are my prices out of line?
- Why is the competition willing to leave money on the table?
- Why should I drop my prices?
- Why does the prospect not see the value in purchasing from me?
- Why am I afraid of losing the order?
Absolutely there will be circumstances that justify making price concessions and your business will not be any less successful.
The thought is to always know why you are doing it, and the consequences of your actions. Too many times I have seen price erode for no better reason than the sales representative failing to ask themselves why before making their decision. Don’t be that sales person.
Imagine the impact on your sales revenue if you gained ten cents for each dollar billed. That equates to incremental revenues of $100 for every $1000 invoiced, and that is worth thinking about.
Good selling,
Richard
Comments are closed.