Access Business Analytics
Any conversation about price is delicate. LSPs must maintain decent margins despite the constant pressure from buyers to lower their rates. On the other hand, buyers receive bids from different LSPs that supposedly offer comparable results but come at different price points, further reinforcing cost as a significant component during vendor selection.
Yet, all too often, LSPs’ salespeople don’t know how to counter the “you’re too expensive” argument, viewing it as the end of the road. But it doesn’t have to be.
When faced with the thorny price issue, salespeople, account managers, and project managers all need to learn good comebacks to keep the conversation going. Watch a replay of our webinar, “The Thorny Price Objection,” which is full of ideas on how to respond. With some practice, you will be prepared to rebound graciously and close the deal.
But when it comes down to being told that you’re out of a buyer’s price range, it’s a bit late to try to overcome the objection. Ideally, you prevent it from going that far. How do you do that? Assuming your rates are within normal ranges and truly not too expensive, here are seven ways to reduce the odds of constantly having to justify your prices.
This is just a sample of the approaches you can take – there are several more covered in our webinar. Keep in mind that the competition isn’t necessarily cheaper because they’re not as good. We consistently observe LSPs that significantly cut their internal and supply chain costs and still deliver quality results.
In the end, it’s all about enabling buyers to find the money by helping them build their business case or to see the big picture of how they can contribute to corporate goals and initiatives.
Director of LSP Service
Focuses on LSP business management, strategic planning, sales and marketing strategy and execution, project and vendor management, quality process development, and interpreting technologies
Every CEO knows they must develop three core elements to business management: a mission statement th...
May is Mental Health Awareness Month. During this period, organizations seek to raise awareness of t...
Companies all over the world are experimenting with breaking away from the traditional five-day work...
When competing with large language service providers, small and mid-sized LSPs can feel at a disadva...
“Digital transformation” has become an inescapable buzzword. The COVID-19 pandemic sped up the shi...
Cold emailing is the equivalent of cold calling – the solicitation of a potential customer who had ...
Posts by CSA_Research