Price negotiations: How to respond when a competing vendor lowballs you

Want more advice + templates that help you negotiate with prospects → http://blog.close.io/price-negotiations-underbidding-competitor

He likes you and he likes what you’re selling. You estimate that there’s a 90% chance you’ll close the sale during your next conversation.

But then, the (not so) unthinkable happens. You get a call from the prospect and he tells you he’s been talking to your competitor for weeks now, and they’ve just offered him an outrageously low price on their own product.

He puts you on the spot and asks you straight up, “Can you beat that price?”

If you’ve been in sales for any reasonable amount of time you’ve probably encountered this scenario. If you haven’t, or were unsure about how to proceed, the answer is pretty simple.

That’s because there’s one surefire way to win a price war. Get out of it.