Over the last few weeks, I have been grappling with “how to force a buyer to decision?” question in “packaged product based” company. In any sales process, it is important we get a “Yes” from the prospect. We diligently work towards such an outcome starting with cold calling and emailing, understanding requirements, putting together proposals and finally closing the deal.
However as many of you may have experienced, it is an extremely arduous process with a high degree of uncertainty. In fact, the sales process has a higher degree of uncertainty in the entire business value chain than any other process. (Seehttp://en.wikipedia.org/wiki/File:Porter_Value_Chain.png for Porter’s Value Chain model.)
A simple modus-operandi to reduce uncertainty is a simple but effective technique followed by many successful companies. In any proposal, always give customers only one choice at one price. If they ask for something extra, add it to the proposal if you already have the product or service. If not, then just say “no”.
A buyer’s attitude is to somehow convince themselves why they should not spend the monies with you. You cannot blame the buyer for not wanting to part with their monies. Remember, they are also trying to save their skin or embarrassment if your product or service does not fit their needs. Or if it turns out that your product is inferior in quality.
- Present a non-complicated simple proposal. At most have two fixed priced options - A and B with clearly marked “cost to customer. “
- Most likely, the buyer will ask for something extra, something you may not currently have, or something that is on your roadmap.
- Your answer to the question in step 4 is critical. To get an immediate sale, the answer to step 4 is “No.”
- That then leaves only one negotiation point – the price. Which you have ultimate control over. As long as you make your reasonable profit, you are good to go.