The guide to better prices, for non-negotiators
We each react differently to hearing the price for things we want or need, but for the majority of us, there are three common results:
- Value meets or exceeds expectations (i.e. price < value), resulting in wallet whiplash as you rip the money from your person to pay before the foolish merchant realizes they’ve been hoodwinked.
- Value falls short of expectations (i.e. price > value), resulting in you shuffling dejectedly out of the store, empty-handed. And possibly embittered. Something not good for you, or the merchant (ironically).
- Value is less than or equal to expectations (i.e. price >= value), resulting in one of the most common shopping experiences: waffling. If the value for money is concealed or unclear in any way, most of us will spend an unnecessarily long time measuring the options, to buy or not to buy.
It’s this third result that has us most concerned. Value for money is paramount for making any purchase seem worthwhile - so how can you tip value in your favor?
Negotiate on price.
It seems so obvious, but negotiating on price is an unnatural reaction for most of us. People are not naturally drawn to conflict, and though different, negotiations can often times evoke the same emotional response. So, without going too deep into psychological triggers and psychobabble, what can you do tomorrow to swing the value back in your favor, or what are the five easiest steps to getting a better price?
- Ask for it. The biggest no-brainer ever, ask “can you do any better on the price?” The worst thing that can happen here is they say “no.” It is not necessary, but can be helpful too if you have some idea where their price sits relative to their competitors, so if they say “no,” you can cite competitive prices (i.e. hint at giving your business to a competitor).
- Make eye contact. When you’re listening to someone, eye contact lets them know that you are engaged, and when you’re speaking to someone, eye contact lets them know they are accountable for listening to you - many people have difficulty with this, so the sooner you master eye contact, the better you will fair in any conversation, negotiation or otherwise.
- Shut your mouth. Recognize that silence can be a powerful tool. People inherently want to fill the void when no one is speaking, especially when engaging with strangers, so use this to your advantage. Ask for a better price and then shut your mouth (i.e. force the sales person to respond and explain their response). Ask a follow-up question or provide some comment on how you saw something from a competitor, then shut up again. The more you get the sales person to talk, the more likely it is they will come to your side. Try it.
- Ignore the first no. Sales people are trained to say “no,” and are literally paid to get you to spend more than you inherently want to. Unless the person is new, or naive, they will say “no” to your first request for a better price. Ignore this first response as reactionary. Cite your knowledge of a competitor’s price or greater value proposition (e.g. they offer an extended warranty for free, or they offered to install it for free, etc.). Once you’ve got them talking a bit more, ask again for a better price. From experience, three attempts seems to get the job done.
- Avoid the range. Sales people love the price or discount range, and will often attempt to put you in it (i.e. they will ask you “what price range are you looking to stay within” or “if I could get you in X range, would you buy today?”). Also, NEVER EVER suggest a range yourself. Sales people use the range to extract the maximum value from you - if it’s a discount range, they will err on the low side, or if it’s a price range you’re interested in, they will err on the high end. Know this, and know to avoid it.
