By John Holland, Chief Content Officer, CustomerCentric Selling®
A common ploy buyers use toward the end of buying cycles is having someone (often a non-Key Player) request a “best and final” pricing. Smart buyers with multiple vendors in the mix will negotiate with Column C to use their price against Column B, all in an attempt to get the best possible price from Column A, their vendor of choice. Some buyers may just fabricate pricing.
Some salespeople see this as an opportunity to win the business with aggressive pricing. In my experience, vendors selling non-commodity offerings can seldom discount their way into becoming Column A.
In selling, the words “always” and “never” seldom apply but I’d like to make a case that sellers should always negotiate as though they were Column A.
When asked for a “best a final” I suggest asking the buyer if you are the vendor of choice and if price is the only obstacle.
- If you are told the buyer is not yet to that point, consider responding as follows:It sounds as though you haven’t finalized your decision yet, so let’s leave pricing as an open item. If I become your vendor of choice we can see if we can come to terms.
If the person asking for a better price is a non-Key Player, try to avoid negotiating with a messenger. When asking if you are the vendor of choice, suggest that if you became the vendor of choice you’d have to get your manager and the Key Player involved in finalizing the transaction.
- If you aren’t the vendor of choice you will at least kept your dignity and pricing in tact. Any number you provided would have been used as leverage with Column A. If you are the vendor of choice they will come back to you and you start at the original price quoted rather than a discounted best and final they will try to further whittle down.
Our Live Workshops are filling up!
If you want to take the guesswork out of how to improve your sales game, we can help. Come to our next Live Workshop in Boston or Denver. You’ll get three days of in-person sales training, great food, expert hands-on coaching, and — most importantly! — a clear process for any sales situation so you can earn more money for your company and for yourself.