Negotiating price

Other question:

What if you can tell the person is not very honest?

I had one guy tell me straight up after a trial close: "No.that's not the way that I work. I have to yell and threaten I'll cancel my service with my current provider to see if I get a better deal. If you call back , I'll switch to you. " and just randomly bragging about lies he told to get deals during pre-qualification.

Or sometimes they will regurgitate an very obviously canned sob story

Does a dishonest personality from the prospect change your strategy at all? If so, are there any telltall signs that I should watch out for that are not so obvious?

I love the prospects who's culture demands negotiation or haggling.

If you're pitching some one who's culture demands negotiation and you know ahead of time you can be creative and think of something to give away that doesn't hurt your profits and still make them believe its a total win for them.

If you can do that their culture pretty much obligates them to buy as well. LOL

Some have a need to negotiate, but negotiation doesn't mean a lower price. If you discount by $100, that costs you $100. But you can;

Change the terms. I've negotiated for a hour just changing the terms. Same price, same package...different terms. They feel like they put me through the wringer..and I have a sale.

Add to the package. Add things that don't cost much. Extended warranties, Express service, Faster delivery.

When I sell a $1,000 vacuum cleaner, in my store...sometimes they want to negotiate. Not often, but it happens. I can add a set of attachments, extra bags, extended warranty, and a few more things. My cost is about $30. But it looks like a $400 value.

When they want a lower price, ask what features to deduct. I do that with my local online marketing service. I start deducting features. Once they say "Yes", I just ask again, if they want the features...They almost always take them. Why? Because the decision has already been made. These things are just details now.

When selling a vacuum cleaner, if they want a lower price, I show a cheaper model. Once they say "Yes", it's just a detail to upsell to the better model. You can even do that if you have one offer. I only sell one service to business owners. At one price. I'll deduct services, but they really still get them. And once they say "Yes", I'll change the terms so it's a no-brainer to take the original offer.

Redirect them from negotiating price. Start negotiating delivery..availability....terms.

They don't really need a lower price. They need to feel like they negotiated.

There are two types of dishonesty. The dishonesty that matters, and the dishonesty that doesn't matter.

I ask the questions that really matter, up front. And in a conversational way. That way, they don't know which way to lie.
And everyone lies. What's most useful to me is Which Way they lie. The direction of their lie will tell you whether they are justifying buying, or avoiding buying.

I think the problem salespeople have with buyers lying..is that they care if it's a lie. My advantage is that I don't.

This is why "consistency" is such a good thing. If someone lies to you, and you appeal to that lie, sometimes the person will buy, just to be consistent with their lie. This works far better on small sales.

I have trouble telling when someone is lying. So I have to craft my questions, so a lie isn't the first thing they think of. Ask for answers that require memory...longer answers.

I think you are more asking about Jerks, not liars.

In my earlier life,I would get on the Drama Queen's side. We would both be angry about the same thing. They just want an audience. Be an audience. And some people, the only way they can feel important, is to torment a salesperson. I always just looked at these tirades as a step in the sale.

Even when they were talking about how they treat salespeople, I would talk like I knew they didn't mean me...but everyone else. And I would be on their side. I've been "Saved" maybe 12 times. I've been with two women that told me they were going to commit suicide, while I was there. Both bought. Almost any drama actually helps you in selling. The worst thing is silence....or boredom.

I never take what they say personally, because it isn't personal. They are in pain. You're just there. I don't even take it personally, when they buy.

Listen, be patient...these broken people eventually run out of steam, and you're their new best friend. A lot of my sales, in years past, were made to people that were unstable or broken in some way.

No matter what they are saying or doing on a presentation. My thought is "How is this to my advantage? How can I use this to further the sale?"

Whatever they say to you, is the clay you use to sculpt the sale.


Some phenomenal advice on this thread so far. Misterme's advice about watching their actions, more than their words, is worth remembering.

Thanks everyone (I ran out of them)

It's much appreciated.

I find this a bit frustrating because I have been sharing this stuff for YEARS.

When someone wants to negotiate Price, which is very rare because of the positioning and marketing collateral I make them go through before they ever get to talk to me, I say, "Sure, what features would you like to cut?" Stops them cold.

Use the Monetizing the Problem technique to get THEM to value what you offer.

Use this as a qualifying tool. If the price of your solution is not greater than 5 - 10% of the size of their problem, they qualify Out. More experienced people may get to 20% or so. But remember, the client has to make their profit and pay for their costs (including YOU) in there, so you can't really go much above 20% very often.

Now you have qualified on Need and Budget.

Then QUALIFY more based on Personality. Is this person impossible for you to work with? Are they going to hurt you and your business? Get rid of them now.

It's fine that you're asking questions, Nick, but do I wonder why after literally years of doing this work you haven't come to more of these conclusions like these yourself. I suspect it comes from being desperate to make the sale. Stop being desperate. It's the #1 Sales Repellent.

Incidentally, we addressed this topic a year ago...yeah. My post here and Dan's underneath.

*walks away grumbling*

Really appreciate what you are adding to the conversation there Claude. Some people assume that ‘negotiating’ or lowering your price always means that you are giving up, what if you are closing the sale and getting the buyer to spend 50 bucks more on accessories or benefits? I have found that this cannot be an ego contest, you have to be smart.