When negotiating with a potential buyer, lowering the price is usually the first thing you think of.
But the price is not the only variable of value to the customer.
- Will speeding up delivery time make it more valuable to the client?
- Is there some aftercare service that you can add?
(such as training, insurance, updates, etc)
- Could you offer a second product at a 100% discount?
(i.e. get both products for the price of one)
- Would changing payment terms help the customer say yes?
(e.g. from up-front-one-off to 6 x monthly payments)
Each product is different, so your variables will be case-specific to your offer, but, before you lower the price, always see if there is a way to improve value for the customer at your current price offer, before you drop your price.
Questions, thoughts or comments? Share them below:
- Don’t rely on your memory, always write it down - 2016-12-02
- Don't focus on words - focus on white space - 2016-12-01
- Avoid problems: manage expectations - 2016-11-30
- Make more profit by making things easy - 2016-11-29
- Product or market; which do you build first? - 2016-11-28
- Increase your profits by repackaging your products - 2016-11-25
- How to sell successfully - sell the sizzle, not the sausage - 2016-11-24
- One of the key buying signals, and how to profit from it - 2016-11-22
- Make your life easier; go after the big win - 2016-11-21
- Price is the last variable you should negotiate with - 2016-11-18