Sales Training - Overcoming Cheap People
By Steven J. Schmidt
Most wealthy people deserve the money that they have. They worked very hard in trying to achieve their goals and they succeeded.
Many upper-class people stay wealthy because they are very smart with their money. If there is a way that they can save money, they will try and do so.
If they are renovating their house or getting a new roof, than they will try to find the best deal. They will seek a contractor who will give them the cheapest price. However, they may not get the best quality, because cheapest price does not always mean best quality. But, for some wealthy people, they think that they can get the best service at rock-bottom prices.
It's fine to hunt for bargain-basement prices, but I feel it's foolish to pay less but get poor service in return. If you do this, you'll eventually have to hire someone else, and it may add up to more than you initially would have paid for the premium service.
This segways into a very simple way of overcoming rich people who still want a cheap price to the point where it can cut into your commissions. That way is staying strong with your offer.
Many consumers negotiate with strength and confidence. Most upper-class people like to think that because they are wealthy they hold the cards to negotiating. They feel that they will tell you what price they want to pay. Once that happens, all you have to do is pretty much let them know who the boss is.
You must let them know that you will not budge past a certain amount. Once they see that you are unwilling to negotiate, there are only two reactions that they will give you. One is, "I am not interested." The other, "Well, all right I will go with you."
You will get objections such as, "Company X gave me a much cheaper quote to redo my entire bathroom." Your response should be, "Well I completely understand and respect that, ma'am. However we cannot drop our price because we will lose money. In addition to that, our company prides itself on the quality of work we do. I would recommend that you go with Company X if you want to have your bathroom completely remodeled for that price."
When a customer tests you, all you have to do is test them back. Just because a customer tries to show how strong they think they are, in terms of dictating the price, it's your job to TELL them that they are not dictating anything. You, the salesman, tell them the price, and it is up to them consumer if they want it or not. Do not forget that sales is a numbers game, and if it's not them who buys, it will be someone else.
Another tactic that upper-class people hate to hear is, "Ma'am, I would love to give you our service for that price, but that would be unfair to your neighbors if I gave it to you a cheaper price." Wealthy people do not like to be known as "cheap," and will not want to have that reputation attached to their name.
When people try to take advantage of you, you have got to turn the tables on them. As they are trying to get a service from you as cheap as possible, you cannot allow that to happen. If you allow that to happen, you are taking money out of your pocket and burning it into dust. The last time that I checked, you cannot pay your bills with dust.
So the lesson learned is to stand strong and do not allow anyone tell you what price they want to pay. If they do, walk away and go for the next sale. Either they will run after you and purchase your service, or you will get plenty of sales elsewhere.
More entries from our Sales Training section:
- Sales Training: Overcoming Cheap People - 6/12/09
- Sales Training: Pressure Cooker - Beating Sales Slumps - 11/15/08
- Sales Training: Keeping Your Energy Up - 10/10/08
- Sales Training: Stay on Top of Sales Leads - 8/9/08
- Sales Training: Customer Needs - 8/5/08
- Sales Training: Time Discipline in Sales - 7/30/08
- Sales Training: Selling Through Weather - 7/9/08
- Sales Training: Presumptive Close - 5/12/08
- Sales Training: Take-Away - 5/12/08
- Loyalty - 5/12/08
- Organization - 5/12/08
- Body Language - 5/12/08
- Caring - 5/12/08
- Having Fun - 5/12/08
- 10 Tips to Reach New Sales Goals - 5/12/08