The No. 1 mistake made by salespeople when they begin the negotiation process is failing to ask this important question: "So, what you are saying is if I can do what you ask, then you are in a position to move forward today, is that correct?" If they say "No," you don't begin the process because they have not committed to buy from you, and all that is going to happen is you will reduce your price, and then, they will take your price to another dealer who will do the same thing until one of you finally gives in. Don't play that game. On the other hand, if they say "Yes" to the question, then let them know that you might not be able to give them what they ask for in cash, but you have some flexibility to meet them somewhere in the middle with some other options that will get them to where you both need to be.
Success Comes From Preparation
For many salespeople, the negotiation process can become a little overwhelming because they think of it as an “I lose, you win” scenario. We work hard with our dealers to get them to package parts, service and delivery as an option for customers to buy. As a dealer, you can easily create packages to sell with your equipment that are bundled combinations of parts, service and delivery with an extended service component.
Prepare a “bonus package” in advance that you can use to clinch the sale with a reluctant customer. Depending upon your creativity, you can easily design packages that offer special pricing on parts, service, and extended warranty for customers who are busy and don’t want to have to worry about their equipment. Through these packages, you are selling the “whole dealership” when you sell your equipment. Your dealership consists of multiple profit centers: whole goods, parts, service and delivery. Why not give the customer the ability to buy your “entire dealership” at the same time?
With some out-of-the-box thinking you can easily create buying solutions for your customers that sell the value of your dealership while allowing you to hold steady on price and grow sales.