If you have a customer who has relentless tunnel vision on price, let them buy from someone else. You will never satisfy them enough to make a profit.
This is very hard for a lot of salespeople to understand, but I firmly believe there comes a time when you have to stop chasing customers who can’t see the value in your price. Customers who fail to see your value proposition wind up doing far more harm to you than you can ever imagine. These customers destroy your sales motivation, not just in the short-term, but also in the long-term.
When the only thing you hear are the screams of customers demanding lower prices and everything you do to get them to understand your value proposition goes nowhere, then it’s time to walk. The most valuable thing any salesperson has is their time and their sales motivation. It’s important to protect both at all times. When you let the customer walk away that is obsessed with attacking you on price, it will free up your time to deal with customers who do understand your value proposition. In the end, you’ll wind up with more satisfied customers and more profit.
Good post Mark. I think also walking away from these kinds of clients protects the third most valuable thing a sales person has in their arsenal – premium in their product. By walkng away from deals based on price, it maintains position in the market and makes it easy to maintain high yield and results – it also makes it possible to get keep prices up as it is very hard to recover from a a slash and burn pricing policy.
I really did like this Tip..I have been in sales over 34 years and my goal every year has been to re-target these type of customers,,I dont give up but boy its very frustrating especially when in this market I need to grow my business.