Will You Pass the Flinch Test
Below is a MRR and PLR article in category Business -> subcategory Sales.
Will You Pass the Flinch Test?
Introduction
In the world of sales, there's a little-known tactic called the flinch test. This is a test used by professional buyers to gauge a salesperson's confidence in their pricing. The question is: will you pass?The Challenge
After countless hours crafting the perfect proposal, you present your pricing to the buyer. Without a glance at the other details, they go straight to the price. "Wow, I didn’t think it would be this expensive!" they exclaim. What happens next can determine your success.The Two Sides of Business
Securing the business involves two aspects: getting the prospect to choose you and ensuring your company accepts the agreed price. Sometimes, buyers may want to work with you but at a rate unacceptable for your company. Navigating these waters requires skill and confidence.The Flinch Test Explained
Professional buyers often employ the flinch test as a negotiation tactic. They might react with surprise, claiming your price is significantly higher than competitors. This is designed to test your belief in your price. To pass, you must convey confidence. Why present a price you don’t believe in?Common Mistakes
Avoid these responses, as they can undermine trust:- "What price were you looking for?"
- "I’ll ask my manager if we can do better."
- "How about if I take 10% off?"
These responses suggest you weren't offering a fair price initially or that you’re too quick to drop your price?"both damaging to your credibility.
The Art of Negotiation
Successful salespeople understand that most negotiations end in compromise. If you lower your price immediately, you inadvertently set a lower middle ground. Protect your position by managing the negotiation process effectively.Secrets to Success
Experienced salespeople use these strategies to handle the flinch test:1. Set Expectations Early: Inform the buyer that you aren't the lowest-price provider. Mentioning this upfront can save time and set the tone for discussions.
2. Remain Unfazed: Respond calmly to price objections. "I’m not surprised by your reaction; we often aren’t the lowest bidder."
3. Seek Clarity: Ask what specifically surprised them about the price. Understanding their perspective can guide the discussion.
4. Reinforce Value: Highlight why clients choose you despite the price. "What do our 1000 clients see that makes them pay more for our services?"
Insights from the Pros
In procurement training, a trainer shared this wisdom: "Provide the best price you feel comfortable with. If you win the business, you’re happy. If not, you’re also happy because you wouldn't have supported the account at a lower price."Conclusion
As a frequent user of the flinch test, I’ve witnessed how quickly salespeople can drop their prices. It’s a tactic that has saved me significantly and is a powerful tool used by professional buyers. Consider how much commission might be lost the next time you consider flinching.By maintaining confidence and effectively managing negotiations, you can pass the flinch test and secure profitable business deals.
You can find the original non-AI version of this article here: Will You Pass the Flinch Test .
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