Do you ever feel like youíre selling cars rather than financial services? It probably happens when the prospect asks, "What can you do for me on the price?"
Everyone is looking for a bargain, discount, or reduced rate. But, that doesnít mean you need to feel pressured to reduce your rate.
Let your prospect know that youíre not out to swindle him and that if the rate could be lower, it would be. Tell him, "I need to remain competitive and I wouldnít be able to do so if my prices werenít fair. Our goal is to give you the best product for the best price, and this is it."
Let your prospects know that you are on their side and want them to get the best price. Be sure to tell your prospects, "If the price could be lowered and the quality remain high, I would be the first to offer a discount."
Also, stress that the price quoted is the final price, and there arenít hidden costs. Try suggesting, "Perhaps you are comparing our product to another which has some extra costs you arenít immediately aware of."
Sometimes the prospect just needs to be able to let their boss know that the price you quoted is fair. Allay their fears by saying, "You can check with other merchants who are in a similar industry, and you will find these rates fair and equitable. Also, when you compare our product to others, you will see there that ours is superior."
Also, try turning the tables on the merchant. "Do you offer discounts to your customers? Are the prices on your products the real prices or do you discount them only for those who haggle over the price? We offer the same price to everyone." Stress the fact that you want to form a lasting business relationship. Emphasize to the prospect and that you want your relationship to start off on the right foot, with honest pricing.
If a prospect pressures you about price, donít feel that you will lose the sale unless you give in. If youíre confident in your productís quality, you know itís worth the price. The goal is to convey this to your prospects so they know they are getting the best value. Whether you are selling a product or a service, stress value over money; quality over cost, and ownership over price.
