Sales Question:

"Is That Your Best Price?"

"I received a call back from my prospect (whom is the info gatherer) regarding a proposal we've been working on. She said her boss (read: decision maker) was interested in setting up a meeting with me to discuss the project further, and then she asked me if what I sent her was my "best" price… I wanted to get the meeting and was afraid if I said "Yes, that is my best price" that they would not agree to meet with me and would go with one of my cheaper competitors… So I said we could offer a little more off… Did I answer it correctly?"

Answer:

The "is that your best price?" question can have many different responses. There isn't a one size fits all rebuttal. You must consider the situation and understand the facts before selecting the response that would give you the highest % of achieving your desired outcome.

With that said, based on the information provided for this scenario of not dealing with the decision makers but rather the "information gatherer" here's how you may want to responded the next time this scenario happens in order to make sure you aren't leaving money on the table:

PROSPECT: We've reviewed your proposal and we're interested in setting up a meeting with you and our (decision makers) however just a quick question for you… Is this your best price?

YOU: (Prospect Name) I'm glad your company is interested in setting up a meeting and I appreciate your question regarding price… Let me ask you this… Other than price, is there anything else standing in our way?

PROSPECT: No! We really liked (____, ____ and ____)

YOU: Great… And just so I understand, what would we be hoping to accomplish at this meeting?

PROSPECT: Select start dates and agreement of milestones.

YOU: OK so let's do this… let's have the meeting and once all the details are worked out, we can circle back and see what options may be available to us regarding the final price, fair enough?

PROSPECT: Yes. Can you meet with us on…

So What Did We Do Here?

1) We identified what the meeting would be about;
2) We secured the meeting;
3) We avoided negotiating with a non-decision maker;

Why Is This Response Better?

1) The danger with agreeing to a lower price up front is that you committed to offering a better price and received nothing in return other than a meeting. That's not "negotiating" that's "surrendering".

2) For all you know, they were going to move ahead with your proposal at the current price and now you've left money on the table.

Michael Pedone
CSS: Chief Sales Scientist
SalesBuzz.com (A 2011 Sales Training Company Watch List Award Winner!)

LAST WEEK TO REGISTER:

8-Week B2B Sales Improvement Program

1. Eliminate "No, Thanks", "Not Interested" & "We're All Set" Responses from Cold and Warm Calls
2. Neutralize Gatekeepers & Get Voicemails Returned
3. Ask Engaging Questions Instead of Probing
4. Improve your Qualifying Skills
5. Give Stellar Presentations & Handle Objections
6. Close Follow-up Calls and Get Targeted Referrals
7. How to Set & Achieve Your Toughest Sales Goals
8. Improve Your Time Management Skills

Duration: 1 hour per week for 8 weeks
Where: Online @ your desk, conference room or home
Presenters: Michael Pedone

Get Dates / Times & Pricing Now

Sales Question:

"How Do I Become a Top Salesperson? I want to be better but I'm struggling!"

Answer:

Here's what I've found that worked for me...

What Works – The Skinny Details

Reading Sales / Business / Self-Help Books
It doesn’t matter which books. There are plenty of great choices. Just pick one and go with it. Try reading at least one per quarter and watch your sales numbers go up. Also, don’t feel that you have to implement “everything” you read into action… many a times its just one or two nuggets that you can take away that will have a huge impact for you long term.

Listening to Audio Tapes
Try listening to a business (sales / self-help etc) book on tape for at least 5-minutes everyday on the way to work for 20 business days in a row and watch how much of an impact that will have on your attitude.

Role-Playing
Role-playing was one of the single biggest contributors to my success and I’ve seen it save many a salespersons job. Of course you need to make sure you are role-playing the proper sales techniques. Otherwise you reinforce what isn’t working!

Tip: Set up a sales role-playing schedule. Options could be:
• Monday through Friday;
• Monday / Wednesday / Friday or…
• Tuesday and Thursday.

Whichever schedule you decide on make role-playing “mandatory”. Also, role-playing sessions should be anywhere from 5-minutes to 20-minutes max and they can be a great replacement for morning sales meetings. (It can also give your sales manager a break as well… It’s not easy coming up with a new way to say the same thing all the time)

Recording Your Sales Calls
Fastest way I know to correct phone sales mistakes is to record your calls and then have them critiqued. Have your calls analyzed in front of your peers as well. It magically speeds up the learning curve.

Learning from those who have already achieved what it is that you are after
Someone else has already conquered the roadblocks to your success. Learn from them and you will leapfrog to that next level.

PS... In case you’re wondering…

Here’s What Doesn’t Work

1. Doing nothing / Waiting for things to get better on their own
2. Blaming the leads, management, marketing department etc
3. Not trying anything new
4. Believing it’s not “you” it’s “them”
5. Not believing in yourself (or your sales team)
6. Learning from has-beens, no it all’s and Naysayers who’ve never really reached or sustained the level of what you are after.

Michael Pedone
CSS: Chief Sales Scientist
SalesBuzz.com (A 2011 Sales Training Company Watch List Award Winner!)

New 8-Week B2B Sales Improvement Program Starts Soon!

1. Eliminate "No, Thanks", "Not Interested" & "We're All Set" Responses from Cold and Warm Calls
2. Neutralize Gatekeepers & Get Voicemails Returned
3. Ask Engaging Questions Instead of Probing
4. Improve your Qualifying Skills
5. Give Stellar Presentations & Handle Objections
6. Close Follow-up Calls and Get Targeted Referrals
7. How to Set & Achieve Your Toughest Sales Goals
8. Improve Your Time Management Skills

Duration: 1 hour per week for 8 weeks
Where: Online @ your desk, conference room or home
Presenters: Michael Pedone

Get Dates / Times & Pricing Now