What Do You Do When Your Customers Haggle Over Price?

We've all been there; you've invested months into a sale and now here we are at the end of the year and you just want to close the deal-but your customer won't budge, not even a little bit. And you feel stuck with reducing the price to meet their terms just to get them to sign on the dotted line.

Not only does this hurt you in the short run by the obvious discount, but all too often it backfires in the long run. Why? Because you're no longer perceived as a true partner once you allow the negotiation to be win-lose and you attempt to win your customer over with gimmicks or extras. When you start "giving in," clients can become more difficult simply to hold out for a deeper discount. A further danger is that once word gets out, it creates peer envy. When customers learn that the "best" customers are getting discounts, they become unhappy about their deals regardless of deal size, actual discount, and other interests.

So, what if your customer is holding out for a discount? How do you achieve a win-win without leaving money on the table?

• First, you need to view negotiation as an activity you use not just throughout the sales cycle, but beyond it as well.
• Second, you have to develop a solution that will satisfy your customer's business goals as well as-often hidden-personal interests in the deal.

Article Source: http://www.content.onlypunjab.com

Miller Heiman has been a thought leader and innovator in the sales arena for almost thirty years, helping clients worldwide win high-value complex deals, protect and grow key accounts, manage talent and optimize sales strategies and operations. With a prestigious client list that includes Fortune 500 clients, Miller Heiman helps companies in major industries to build high performance sales teams that deliver consistent sustainable results.

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