Have you heard of WIIFM?
It’s a phrase I use if someone tries to negotiate with me. It means “What’s in it for me?” If someone wants me to reduce my price or give them something extra, I always ask how I get it.
It can lead to some interesting conversations!
Many people don’t know how to respond to WIIFM
This is why you must have answers ready for them.
Here is an example. Let’s say they ask you to reduce your price. You answer WIIFM. The buyer may seem confused. So you can add, “Here are a few things that might make a price cut attractive to me.”
You might suggest:
- Regular work
- A longer calendar
- A different specification
- Your name being added to the product
Each of these things can make a big difference to you. Best of all, they often don’t cost the buyer much, so it’s easy for them to say yes.
Do you want more practical trading tactics like this?
You will learn my complete seven-step negotiation system in the Printing Industry Negotiation Handbook. Many people save many times the price of this book on their first trade.
PS Discover more ideas on how to engage with today’s buyers: download my free e-book “Ten Common Print Selling Errors and What To Do About Them” now at http://profitableprintrelations.com/e-book/ You will also receive my regular newsletter ‘Perspectives from the Print Shopper’, full of ideas on how to sell print effectively.