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Two Ways to Tackle Price Negotiation in B2B Sales

Sales Strategy“Is the price negotiable?” There are really only two ways to tackle this question.  

1. Have a ‘I just want to close this business mentality,’ interpret their question as a request, succumb and lower the price. Be careful though, who knows when they’ll be satisfied with the “price.”

OR

2. Work with your potential customers to help them truly understand the value of your services, products and/or deliverables. When your customers understand the specific value you’re bringing to their company, and how doing business with you will help them meet their goals, most often they will believe they are getting an incredible deal.  With this scenario, negotiating to lower the price won’t cross their mind!

Question: So how do you show specific value?

If you’re creating a customized solution, value can be shown by adding the short term and long term affects that your program, services, and/or deliverables offer their company and their bottom line. ROI is critical, and b2b sales people must be able to show how they will deliver measurable returns. Whether it’s employee retention, increased efficiency, stronger sales performance, an increase in customer acquisition, etc., showing specific value to your customer is the only way to skip the negotiation phase of the sales process.   

If you find that you’re having a tough time showing value, then you need to spend more time in your needs analysis learning about their company, how it operates, and what their specific goals and challenges are. You can then work to find solutions to help address their challenges and meet their goals. 


Only after you’ve conducted a strong needs analysis, can you communicate specific value as it directly relates to their company and their goals… this includes the cost of NOT doing business with your company.   

 

Selling specific value is difficult, almost impossible when you don’t know your customer’s business, how they operate, or their very specific goals. So, it’s extremely important to dig deep during your needs analysis so you can create a solution that they will deem valuable. One that will leave them believing they’re getting an incredible deal… rather than thinking they could be getting a better deal!

 

Learn how to create value by setting the right appointments!

Download our eBook, 'Eight Secrets to Setting High-Value Appointments'

 


Topics: Needs Analysis, sales strategy, Sales

Posted by
Demrie is the Director of Sales for Tax Law Solutions. She works with tax law attorneys and business strategists to help business owners dramatically and permanently reduce their income tax rate. She can be reached at: dhenry@taxlawsolutions.net
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