Concessions during price negotiations signal lack of confidence
I’m your customer. When you offer me a price concession, you scare me.
Even if I desperately need what you’re selling, I feel like I’m taking a risk. When you don’t stand firm on your price, you make me think I’m risking my money, my time and my reputation.
As a buyer, the number-one thing I need is to trust my salesperson. And a price concession tells me that you don’t 100% believe in the value of your product or service. It makes me wonder why I didn’t get the best price before I asked – and what else you might be holding back. It makes me think, “Am I going to regret doing business with this person?”
What I really want is for you to earn the price you quoted. Show me that you really get me. Work hard to understand my situation. Tell me exactly why your solution is absolutely the best one for me. Convince me that I won’t regret sticking my neck out to buy from you and I’ll be happy to pay a fair price.
photo credit: theerin
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