I’ve been moving through our list of 5 Secrets to Selling at Full Price.
We have come to number 4 on the list:
4. Be Prepared to Walk Away.
If you are afraid to walk away, then how will you ever face the music and not cave on price?
The only you can be certain you won’t cave on price is by being willing to walk away.
It sounds simple. If the customer isn’t willing to pay full price, then walk away. Problem is it’s easy to think it’s how you would handle the situation, until it actually happens.
Walking away from a deal that is less than full price might be easy when the pipeline is full and you have more business than you can handle. Usually, though, that’s not when it happens.
The customer demanding a low price is going to strike when business is slow, the leads are lousy and the competition is relentless. It’s in times like this when walking away is the last thing you feel like doing.
Walking away is just the thing you need to do when times are tough, but you won’t do it unless you know in advance at what point you will walk away. Before the sale begins, you must determine what the minimum is, and not only do you need to know what it is but your boss does too.
The reason your boss must be in agreement is because you must know when you walk away from the deal and contact your boss, he or she will be supportive of the decision you made.
Far too many salespeople allow themselves to accept a far less than acceptable deal for only one reason — they don’t want to tell their boss they walked away.
Walking away is not easy, but what is amazing is the feeling you will have after you do it.
The feeling will be relief because you held firm on what you had determined before the selling process got deep into price.
Once you’ve walked away from a customer, you’ll be far more comfortable to do it a 2nd time. No, I’m not saying walking away is something you want to do frequently, but if you know you can do it, you will have far more confidence in being firm in your price negotiations.
The result will be you’ll find yourself having fewer serious discussions regarding price, because you’ll be closing more sales at full price due to your confidence and control of the process.
Copyright 2014, Mark Hunter “The Sales Hunter.” Sales Motivation Blog. Mark Hunter is the author of High-Profit Selling: Win the Sale Without Compromising on Price.