Breaking the Discount Habit Presented by Don Cooper The Sales Heretic™

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The Importance of Price “I’m very price conscious. I work with my travel agent to find the best possible rates for air flights, hotels and car rentals. I watch what I spend on the road.” —Selling Power, April 2000 Breaking the Discount Habit

The Importance of Price “I stay at the Marriotts, the Hyatts or the Starwoods, usually, because they’re high-rises and safe and they cater to the corporate traveler.” —Selling Power, April 2000 Breaking the Discount Habit

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The Role of Price ●14% of consumers buy solely on price ●People don’t want the best price, they want the best value. Breaking the Discount Habit

What is Value? ●Value is subjective ●What value do you offer that people would pay for? Breaking the Discount Habit

Differentiate Yourself ●Compete on factors other than price ●What’s unique about your product? ●What’s unique about your dealership? ●Avoid clichés Breaking the Discount Habit

Differentiate Yourself ●What do you do better than your competitors? ●What do you do differently than your competitors? ●Market your strengths ●You can’t sell value if you’re only talking about price. Breaking the Discount Habit

Three E’s 1.Engage 2.Explore 3.Educate Breaking the Discount Habit

Engage Prospects ●Welcome them ●Offer food and drink ●Get to know them Breaking the Discount Habit

Explore Their Priorities ●“Is price the most important issue to you?” ●“What else is important to you?” Breaking the Discount Habit

Educate Them ● Your product ● Your dealership ● Provide testimonials Breaking the Discount Habit

Educate Them ●“Really? I imagine they must have a good reason for selling at that price. Why do you suppose they’re so low?” ●“If prices were all the same, who would you choose? For what reasons?” Breaking the Discount Habit

Educate Them ●“There’s always someone out there who’s willing to undercut prices because they don’t believe in providing the level of service we do.” Breaking the Discount Habit

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Negotiating Your Best Deals ● Be willing to walk away from the deal ● You’ll never close every sale ● Price is not as big an issue as it seems Breaking the Discount Habit

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Negotiating Your Best Deals ●Holding your price does not guarantee you’ll lose the deal, just as cutting your price does not guarantee you’ll make it Breaking the Discount Habit

Negotiating Your Best Deals ●If you give a discount, get something in return Breaking the Discount Habit

Negotiating Your Best Deals ●What can you offer other than a discount? Breaking the Discount Habit

Negotiating Your Best Deals ● There is no such thing as a fair profit ● Higher price means: Breaking the Discount Habit

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“There is scarcely anything in the world that some man cannot make a little worse, and sell a little more cheaply. The person who buys on price alone is this man’s lawful prey.” — John Ruskin Breaking the Discount Habit

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