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How I raise margins and consistently deliver solid markups

Disclaimer: This post assumes you have the ability to set your own markups as a sales rep.


I always thought this was common knowledge but I get a feeling it's not. I enjoy incredible margins compared to my counterparts because I follow a pretty simple set of rules:


1.) Only lower your markups if you have to, WAY too many salespeople weirdly lower their prices before there is even an objection to them. STOP FUCKING DOING THIS. If you have to lower it to get in the door and compete then YES, by all means do it. But as you build that relationship and that trust you have earned the right to slowly increase margins on future sales, which leads me to number 2...


2.) Slowly raise your margins as the relationship continues and grows stronger, ESPECIALLY if you've over-delivered and proven yourself better than their current vendors. Trust me, at a certain point when you build a solid relationship with a buyer they completely stop shopping around. PLEASE don't take this as an okay to "be shady" that is not what I'm saying here. What I'm saying is, if you initially LOWERED your prices/margins to acquire a customer and you come in and fucking ROCK their world, then you have every right to slowly work those margins back up in your favor,


Agree? Disagree?


πŸ‘‘ Sales Strategy
2
Feds_Watchin
Politicker
+6
Account Executive
This is my manager’s practice to a T which he has instilled in me. Just today he directed me to always lead with our most expensive back up solution and if they balk they’ll be happy to see an updated cheaper quote. If they pull the trigger, we poppin’ bottles.
GDO
Politicker
+7
BDM
Point 1 is crucial! Lots of sales people negotiate their self down before they start negotiating with the prospect.Β 

also price should be linked to how much value your prospects get from it.Β 
12
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