Thoughful Thursdays - That sounds expensive

This series of posts is all about closing a sale faster. Not being mindful of the topics on the list absolutely does not mean you will not make the sale - It might just take longer.

Things That Can Lengthen Your Sales Cycle - Competitive pricing

You know that that your competitors are out there vying for the same customer dollar you are. If you have not already, it will only be a matter of time when competitive pricing will present itself as a barrier to closing a sale.

What you do not want to do is immediately cave in and meet an apparent competitive price situation without first confirming it. There is nothing more disappointing than leaving money on the table. It may well be that you will have to go back to the office and re-work your numbers. Buyers will sometimes play one supplier off another to get the best deal.

An unforeseen competitive price situation can lengthen your sales cycle. Nobody likes surprises, so do your homework and be prepared with clarifying questions to ask. The answers to these questions should enable to you to ascertain the situation and plan your next steps accordingly.

If you determine that price is the sole deciding factor, it indicates that there is no perceived value or differentiators beyond the actual products or services being offered. If you are not the low cost manufacturer, you will not survive as the low price supplier - be prepared to walk away if it does not make business sense to continue.

See Thoughtful Thursdays - Your Price is Too High

Good selling,

Richard