Never Say the final price let the Prospect Say it.
Sealing a deal as a growing young company has always been an albatross task for upcoming young entrepreneurs. Customers are always scare of whatever marketing tactics unknown brands may apply to rob them of their money against any other lower alternative price they might get elsewhere. And that is why I always advocate the principle of never tell a prospective client the final price when bargaining but let the prospect say it while you psyche the prospect’s mind to know his budget range in my Lecture Series most especially to young upcoming companies. Big companies do not need to because their bold campaign brand does all the work for them.
So many people make the mistake of closing off the negotiations on the prospect without pulling him off his pants to see his necked budget capacity before concluding on a price by trying to imitate what the big companies do and that is Silly. Yes, as usual customers ask how much and it is expected you say a price like a hundred and eighty thousand dollar or naira and if someone else has already given the customer the price rate of forty five thousand dollars or naira before and the prospect has the mindset that your own suppose to be even cheaper being a new person who is looking for customers, he will Just ask you what is your last price as if he has been looking forward to asking you that question as an escaping route to escape out of your weighty economic sledge hammer and if you do make the silly mistake of telling him a hundred and fifty thousand dollars or naira, he Will ask you again is that your final price to be convinced whether are real of that price you are telling him and if you dare say the last price is a hundred and thirty thousand dollars or naira that you remove twenty thousand dollars or naira because of him or her, she will tell you. “OK, I will call you back “ and he will never call you back at all rather he or she will go and call the formal person who gave him the rate price of forty five thousand dollars or naira and ask that person when will he start his work or when can he get the stock deliver to him or going down to him and get it by himself. So, instead, shock the prospect to know his mindset by asking him, Sir or madam, how much do you want to pay? That Will help to bring him or her back from that shock he or she got from that initial price disparities. Some stubborn prospects will still insist on you telling them the final price so that they can escape from you to the formal person before he changes his mind of that price he gave to him feeling that disparities between your price and the formal is much and there is no way he can cut your own down to that not to talk of even below and that is why he will threaten you, “man, tell me your final price I do not have the time to waste tell me your last price I want it done now” but that is when you too have to tone your voice to be in charged and bring him back to yourself by insisting Sir or Madam, I have a price and you have you not say your own it is not a shopping store market.
Never compare yourself with the big companies, the big companies have everything in place that is working for them. They have the big brand, they have an organized marketing machinery doing all the pushing for them, they have the field marketers raiding the market for them, they have trained departmental managers marshalling all the most recent sophisticated strategies for them and those advantages are all working out in return for them which do have as a starter.
By Fame Agidife.
The CEO of FGL Group.
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