{"id":4616,"date":"2022-01-27T04:30:57","date_gmt":"2022-01-27T10:30:57","guid":{"rendered":"https:\/\/top1.fm\/DailySalesTips\/?p=4616"},"modified":"2022-01-26T21:52:54","modified_gmt":"2022-01-27T03:52:54","slug":"sales-tip-1104-why-you-should-ask-for-a-price-increase-now-mark-schenkius","status":"publish","type":"post","link":"https:\/\/top1.fm\/DailySalesTips\/sales-tip-1104-why-you-should-ask-for-a-price-increase-now-mark-schenkius\/","title":{"rendered":"Sales Tip 1104: Why You Should Ask For a Price Increase Now – Mark Schenkius"},"content":{"rendered":"

\"\"“Not asking for a price increase currently erodes trust with your buyer.” – Mark Schenkius in today’s Tip 1104<\/p>\n

Why you should ask for a price increase now?<\/strong><\/p>\n

Join the conversation below<\/a> and go check out the links!<\/p>\n

ROI 10<\/a>
\nThe Other Side of Sales<\/a>
\nMark Schenkius on LinkedIn<\/a>
\nSubmit a Sales Tip<\/a><\/p>\n

Have feedback? Want to share a sales tip? Call or text the Sales Success Hotline: 512-777-1442<\/strong> or Email: scott@top1.fm<\/strong><\/p>\n

Transcript<\/h3>\n

Scott Ingram: You\u2019re listening to the Daily Sales Tips podcast and I\u2019m your host, Scott Ingram. Today\u2019s tip comes from Mark Schenkius. Mark is the founder of ROI 10 where he helps sales professionals get better at dealing with buyers. He\u2019s also the author of \u201cThe Other Side of Sales,\u201d where he shares his perspective after 15 years in procurement. Here he is:<\/p>\n

Mark Schenkius: We have all seen the news; inflations of 5% or more are not uncommon these days. Raw materials, energy, labour. Just to name a few that cause this surge in inflation around the world.<\/p>\n

That opens a big question for the entire sales community. What to do with this?<\/p>\n

I mean, if turnover stays the same and costs increase, this means profits decrease as well or perhaps this even means a loss if margins have been low already.<\/p>\n

In any case, it\u2019s not a situation you should accept just like that, however from my experience talking to sales professionals around the world, they struggle to discuss this with their customers because they also know how tough buyers can be.<\/p>\n

They are scared to put these requests on the table. And I understand that all too well.<\/p>\n

To help you with that, I\u2019m here to provide you with an interesting provocation. Here goes:<\/p>\n

\u2018Not asking for a price increase currently erodes trust with your buyer\u2019.<\/p>\n

There, I said it. But more interestingly, here\u2019s why:<\/p>\n

If you do not ask for a price increase in the current market situation, you are basically saying to your customer or buyer: \u201cI can take a 5 or 6% inflationary hit on my margin, because margins were already good beforehand\u201d.<\/p>\n

As a buyer, this would make me feel bad about our past dealings believing I have historically overpaid for the products or services you have provided. And that\u2019s one of the worst feelings to have as a buyer.<\/p>\n

Remember, a buyer never truly understands the cost structure of the product or service you provide. So, a lot of their decision-making is a mixture of emotions and facts.<\/p>\n

Therefore, it is always important to make them feel good about current \u00e1nd past dealings.<\/p>\n

So, in case you were struggling to go and see your buyer. Just do it. They expect you to.<\/p>\n

Happy negotiations everyone!<\/p>\n

Scott Ingram: For more insights from the professional buyer\u2019s perspective. Definitely check out Mark\u2019s book: \u201cThe Other Side of Sales<\/a>,\u201d and as always we\u2019ll have links to that and more for you at\u00a0DailySales.Tips\/1104<\/a>.<\/p>\n

Once you\u2019ve clicked over there, be sure to click back here for another great sales tip. Thanks for listening!<\/p>\n","protected":false},"excerpt":{"rendered":"

“Not asking for a price increase currently erodes trust with your buyer.” – Mark Schenkius in today’s Tip 1104 Why you should ask for a price increase now? Join the conversation below and go check out the links! ROI 10 The Other Side of Sales Mark Schenkius on LinkedIn Submit a Sales Tip Have feedback?…<\/p>\n","protected":false},"author":2,"featured_media":2399,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"content-sidebar","footnotes":"","tve_updated_post":"","tve_custom_css":"","tve_user_custom_css":"","tve_globals":{},"tcb2_ready":0,"tcb_editor_enabled":0,"tve_landing_page":"","_tve_header":"","_tve_footer":""},"categories":[40],"tags":[],"class_list":["post-4616","post","type-post","status-publish","format-standard","has-post-thumbnail","category-daily-sales-tips","entry"],"yoast_head":"\nSales Tip 1104: Why You Should Ask For a Price Increase Now - Mark Schenkius - Daily Sales Tips<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/top1.fm\/DailySalesTips\/sales-tip-1104-why-you-should-ask-for-a-price-increase-now-mark-schenkius\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sales Tip 1104: Why You Should Ask For a Price Increase Now - Mark Schenkius - Daily Sales Tips\" \/>\n<meta property=\"og:description\" content=\"“Not asking for a price increase currently erodes trust with your buyer.” – Mark Schenkius in today’s Tip 1104 Why you should ask for a price increase now? 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