WINNING NEW CLIENTS - TIP OF THE WEEK No. 6

ARE YOU NEGOTIATING TOO EARLY AND EATING INTO YOUR MARGINS?

The negotiation starts and the selling stops when the customer's need for the product or service is equal to the seller's need to sell it. In other words, figuratively or literally, the customer is saying "I am buying, from you, subject to terms". Frequently, however, the sales person offers discounts or incentives before the customer is really ready to buy. This tells the customer you will drop the price and may even leave the customer thinking you are over priced. Make sure before you start negotiating that you have asked your prospect "are you ready to buy?" - you may have more selling to do. Don't offer any incentive too early, you may end up having to offer even more later to close the deal.