1. Making Your Prices Stick… Without Getting Stuck
PRESENTER:
Vince DiCecco Your Personal Business Trainer
GlassBuild America Expo September 13, 2017 Atlanta, GA

2. Questions to Ponder
Do people buy primarily on price? What % of your customers are price buyers?
When you shop, do you buy primarily on price?

3. “The Price Buyer” Take up all of your sales time Do all the bitchin‘
Forget to pay
Tell everyone else how little they paid
Drive off your good customers
Won't buy the next time unless the price is too low again
Will continue to get a low price from you until you go broke, then say "I could have told you that would happen. Their price is too low."
Run up your investment in inventory equipment trucks people supplies warehouse time
Lie to you
Steal from you

4. Three things happen just before a company goes out of business
They cut price to stimulate sales
Gross margin drops
Sales volume increases

5. Did You Know?
94% of customers will bring up the subject of PRICE first.
44% of sales people will change the subject rather than answer the question, “How much does this cost?"
33% of sales people don’t EVER VERBALIZE the price during the sales process.

6. Dumb Things Sales Reps Say
"If I were you, I'd buy it."
"You ain't gonna believe this price."
"Would $500 be too much?"
"Where do I need to be?"
"How much did you want to pay?"
"Ain't it a crime what they get for this stuff now-a-days?"

7. Recognizing Price Pressure Tactics
“Is that your best price?”
“Will you match or beat your competition?”
“I’ll need at least 3 quotes.”
“I can only spend so much.”
“What’s your price for (big order)?
“You know…we’re not-for-profit.”
“I can get the same stuff down the block cheaper.”

8. “I can get the same stuff down the block cheaper”
He, indeed, can get it but-- a) he doesn't want to b) he better not c) he can't
He can't because-- a) he's lying b) it's unavailable c) it's not the same stuff

9. Do’s and Don’ts About Defending Your Prices
(Compete on Price—HIGH Price, that is)
Remind yourself…often “I do not sell a commodity.” Emphasize your Unique Value Proposition
Don't make noises indicating your price is negotiable
Use “The price is...” instead of adjectives, adverbs or pronouns around the word “price”
Don't signal that your price is too high Don't go WOWING your price
Use testimonials that pay top $
Use the Magic Square

10. The “Magic Square” QSD = 10 Price = 10 QSD = 8 Price = 8
QSD = Quality, Service and Delivery
QSD = 10 Price = 10
QSD = 8 Price = 8

11. Words of Wisdom Run, don’t walk, away from price buyers
Perennially test your price
Set yourself apart from competition by listening, nurturing customer relationships, keeping promises, and emphasizing your UVP
Fix any delivery problem or risk losing more business
Keep your finger on the pulse of your business - Know your GROSS MARGIN
Practice handling the issue of PRICE confidently, credibly, and comfortably.

12. Thank you for attending!