You know from your sales training and experience that value trumps price in most complex deals. But when you are getting started in a business, sometimes you can’t even earn the right to play if your price is too high. Use tips from sales negotiation training to establish a price that will get you to the table, allow you to engage your prospect, and feel secure that you are not giving your service away.
- Do your homework. Find out what related companies are charging for similar offerings and set your price just below it. Know the lowest price you can accept that still makes sense for a potential deal.
- Present your best value first at the highest price you feel you can charge. Then you have some wiggle room as you work toward defining just what the customer wants and needs in perhaps less than your deluxe version. Be ready to offer some kind of discount for corporate customers who buy in volume and are likely long-term partners.
- Hold firm on price until you are working with the true decision-maker. No reason to haggle and not get value in return for your services while talking to the wrong person.
- As you reach deal closure, be sure to ask for intangibles like references, testimonials, and publicity options. These can help sweeten the deal and expand your opportunities for future business.
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