Turning competitors into a revenue sources
A customer came in on a Sunday evening saying he was told he should talk to me. When I was with Hugh M. Woods, and not particularly unusual.
What was unusual was that not only did he know exactly what he wanted, but what he wanted was top of the line – 2 custom polished brass designer faucets, a tub valve, and a waterfall tub spout, all matching styles, with green onyx gold inlaid buttons totaling $3400+ AFTER whittling down price and discounts to an 18% margin (Not much opportunity for an upgrade:)
After telling him it was the best I could do, keeping the company’s interest in mind. He asked me a common question, “can I get a better price somewhere else?”
I said, “Honestly; absolutely. You go with this written bid to any dealer and they will under cut us.”
He responds, “Then why should I buy from you?”
I was at a loss for words for about three seconds, for me a rare thing.
In the first second: who do/could I ask?
In the next: there isn’t anyone that wouldn’t say they don’t know.
In the third it dawned on me, it was the really reaching the bottom of my bag of sales techniques.
“The only thing I can think of is I will personally put everything in your hands on Thursday afternoon if you place the order by Tuesday morning except for the buttons on the second faucet the warehouse is out and will take a week maybe two to get them in.”
On Monday evening he placed the order; he told me that every place he went to gave him a better price.
I place it in his hands on Thursday afternoon personally as promised.
It’s important to mention that I HAD checked the warehouse for a visual stock check, knew and was confident in our team and delivery personnel. Besides, I wanted more than anything else to see what a $700 tub spout looked like; it”s part of bringing it down as far as I did.
I’ve handle all kinds of high end sales. I was known for it to such an extent that while I was taking out a knock down cabinet, the lowest grade we had. Phil Newman, the store manager, commented on day asked me what I was doing. I didn’t know what he meant at first and responded, “just loading a cabinet”