THE VALUE OF A PROMISE
EXCERPTED FROM: PERSPECTIVES ON INCREASING SALES
Is the promise of future work enough to make up for lower prices at the outset of the relationship?
Each and every step you take to engage your prospect should be with an eye toward developing a relationship in the future, and not just in the moment. All too often, however, the future is not as clear as it might seem, and promises made by a client may not be fulfilled. Promises are only words. They cannot be taken to the bank. The decision-maker could change, a new product by another vendor could replace yours, or the prospect’s business could change, thereby eliminating the need for your product. There are a million reasons your client may fail to live up to the promise.
You’ve got to protect each order at the time you’re negotiating it. You’re promoting a complete package that includes service, availability, and reliability—all at a price that’s fair both to yourself and to your customer. Sure, you’ll have some customers who’ll use you for your pricing only and don’t want the extras that your sales efforts bring, but basing your business solely on its pricing structure does not allow for a relationship or loyalty to develop.
Tell your client that your pricing, which is based on the requirements stated in the bid package you were sent, is firm. If a price reduction for this order is sought in exchange for some promise of future business, make that future happen now. Ask for a firm commitment for the next order as part of this one and base your total price on the larger amount. Alternatively, tell your customer that a credit to his next order will be given if it is placed in a timely fashion. Just remember: It’s not an order until it’s an order.
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