How to stop a "Best Price Shopper"

I know this is a difficult one and i know there are a number of variables.I have used a few different methods.
Just thought i would ask for some new suggestions!!
Your thoughts???

Start by building excellent rapport and getting to really know what the customer wants. After that provide a value based solution that fits there needs and wants. Do all of these things in a professional and courteous sales process and they will want to deal with you as a logical conclusion. At this stage offer to save them the hassle of shopping around by doing a deal with you.
If this doesn’t work, buy doing the above things you’ll get the last chance at the business and if it’s at a level your happy with then write the business

muzza,

have seen this work and tried it on the odd occassion; Snowman makes a valid point. Ulitmately you want to try and befriend the client and give him enough reasons to want to buy from you with out appearing desperate.
if they are intent beyond your best efforts to go shopping and you want to make a lasting impression. you could try "the envelope"
On a peice of paper write down "100 dollars off the best price you've had" fold it a couple of times place it in the envelope seal it sign the back of it tape it staple it what ever you need to do.
explain to your customer that whilst you'd like to save him the drama of going elsewhere you understand his want to get the best price. invite him to take your envelope. shop around and once his done shopping come back to you and if the envelope is still sealed on his return you promise to honour your offer inside the envelope. I have seen it done and it was a priceless moment and some of the best refferals have come from these customers...just a thought.

Now that’s a good idea

Quote:

Originally Posted by Muzza

I know this is a difficult one and i know there are a number of variables.I have used a few different methods.
Just thought i would ask for some new suggestions!!
Your thoughts???

Are you asking about the prospect who after meeting with you "wants to shop around" or the prospect who comes in to your store/office and just wants to know your lowest price?

Muzza

What do you sell?

Quote:

Originally Posted by Muzza

I know this is a difficult one and i know there are a number of variables.I have used a few different methods.
Just thought i would ask for some new suggestions!!
Your thoughts???

I once read about an appliance store being price shopped to death. It was decided to stock a refrigerator with half gallon containers of ice cream. So going forward when a price shopper wanted to think about it, he was given the ice cream as a way of saying thank yoy for stopping by.

On hot summer days the price shopper immediately went home with the ice cream before it melted. This prevented further shopping around that day and helped to increase sales at the appliance store (from Jeff Slutsky's book Streetsmart Marketing).

Quote:

Originally Posted by Wonderboy

I once read about an appliance store being price shopped to death. It was decided to stock a refrigerator with half gallon containers of ice cream. So going forward when a price shopper wanted to think about it, he was given the ice cream as a way of saying thank yoy for stopping by.

On hot summer days the price shopper immediately went home with the ice cream before it melted. This prevented further shopping around that day and helped to increase sales at the appliance store (from Jeff Slutsky's book Streetsmart Marketing).

What is your opinion of that tactic?

Quote:

Originally Posted by Calvin

What is your opinion of that tactic?

A little sneaky but not unethical because it's common practice to give away things for free from time to time. Also the prospect still has the option to check out the competition if he or she wants to (in effect the store captured more attention from the prospects to help even the odds).

A good tactic overall.

The consumers could always throw away the ice cream if they didn't want to take the ice cream home. Cool (as ice cream) idea.

How to stop a "Best Price Shopper"

Sales Resistance Forum