One way to deal with price pressure (there are others) “Persist — with Justification.” If you can justify your terms, it is not necessary to change them. Example:
WEAK:
Seller: That will be $1500.
Buyer: You must be joking! I will only pay $1000.
Seller: How about $1200
BETTER
Seller: $1500 is a very fair price. Your specs are unusual and it will take me X percent more time to do Y for you.Now, if you want to amend the specs, then you can save $500.Otherwise $1500 is the
best price.
Keys To Success
- Believe in the value of your service or product
- Know the value of your offer to your buyer (in terms of revenue, time saved, reduced cost, efficiencies, etc.)
- Speak calmly with confidence
- Be prepared to walk away if an acceptable deal cannot be worked out
Caving in to pressure sets a terrible precedent for future dealings with a client, calls into question the legitimacy of your original price, and communicates desperation on your part. Justifying your price and offering a trade maintains your integrity and is far more likely to get you to an acceptable agreement for both of you.
Successful negotiating!
Anne Miller
Words Matter – Make What You Say Pay!
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