Price isn’t an issue with referral business.
More than 10 years ago, a marketing agency told me most sellers cave on price before prospects even ask for a discount. Sadly, that behavior continues in sales negotiations today. We’ve trained our buyers to expect discounts and that everything is negotiable. They know sales reps will make the best offers at the end of the quarter or at the end of our fiscal year, so they wait. That sure messes up our forecasts, commissions, and company profits, and it lengthens our sales process.
Let’s call sales negotiations what it is: a failed sales technique.
The better strategy is to quote a reasonable price in the first place, and you’ll gradually shift buyer behavior. Buyers recognize an inflated price a mile away. If you must reduce your price, take something away. Or give them a choice of what to eliminate. There’s also a difference between price
