@LaurieDesAutels

Rollis Fontenot III , www.gooutandsellsomething.com
Published 08/01/2009 - 5:01 a.m. CST



It is natural to react and get on the defensive to justify our price or become offended that your potential client has made such an unreasonable offer. However fight this reaction. Instead try one of my 3 suggested responses to help earn the business.

The first thing we should remember is it is the client's fiduciary responsibility to negotiate the best possible terms for their family or their business, etc. We would probably do the same thing if the tables were turned. In addition, we are living in very challenging economic times.

Here are 3 responses that have worked equally well for me depending on the situation...

1. In a volume and tone that is no different from the rest of your presentation, a simple "No, we won't be able to that. However, we can..." and then focus on the options that are available, such as a slightly different product, altered payment terms, etc. There are times when a client will ask for a lower price just because it is their practice to do so, and not because they really feel your price is too expensive. For example, have you ever asked if an item will be going on sale for less even when you felt the current price was fair? I have.

2. "Yes, we could do it at that price. We would just need to..." and then proceed to reduce the amount of options in order to meet the offer price. If they are convinced that they cannot do without the options you mentioned, the prospect will probably decide to pay more in order to include those options. If their offer is due to a limited budget, they will probably take the offer without the extra options and you will still be able to make a fair profit on the transaction.

3. "Wow, I haven't heard of a similar (mention the product or service) available for that price. May I ask how you arrived at that number?" This approach allows you to fact-find and verify if the lower price is attached to a different or inferior product/service. This will also give you an opportunity to build more value in your offering when reviewing the differences.

All 3 suggestions have worked well for me at different times, however you will probably find that you will gravitate to use 1 of the 3 approaches more often than the others depending on your preference.