How to respond to what's your bottom dollar?

Respond to "what's your bottom dollar" by either holding firm on your price, offering a small discount for a quick sale, or asking for their budget first. Common strategies include saying "the price is firm," offering a slightly lower price (e.g., 5-10% off), or asking, "What is a reasonable offer in your mind?".

What to say when someone asks what's your bottom dollar?

"My price is in the listing but I'll listen if you want to put an offer out." I usually bake in $20 to account for hagglers, so I'll respond with the -$20 price if it's doable.

What does it mean when someone says "bottom dollar"?

bottom dollar. noun. : one's last dollar. you can bet your bottom dollar.

How to respond when a customer asks you to lower your price?

Here's another great approach. ``I hear you, spending money is always tough. It's just so difficult when I hear you say ((fill in the blank), and I was so excited to help you with that! Perhaps I can offer you a different option, (present another price option.) How does that sound?

How to respond to what's your best price?

How to Respond to “What's Your Best Price?”

• “That depends on the scope of what you're looking for.”
• “Let's talk about what's most important to you—then I can tailor something that works.”
• “I can give you the best value once I understand the full picture.”

When Client Says "Your Price Is Too High"– How To Respond Role Play

How to respond to a lower offer?

How do you respond to a low salary offer?

1. Take your time. It's important to not make a "knee-jerk" reaction and reject the offer right out of the gate. ...
2. Do your research. You need to know the market rate for your position. ...
3. Have a plan to counter a lowball offer. ...
4. Practice your negotiation tactics. ...
5. Make your counteroffer.

What is the 70/30 rule in negotiation?

The 70/30 rule in negotiation is a guideline to listen 70% of the time and talk only 30%, focusing on understanding the other party's needs, motivations, and priorities through active listening and open-ended questions, which builds trust, reduces misunderstandings, and fosters collaborative solutions, making the other person feel heard and valued. This approach shifts the focus from simply stating your position to uncovering insights that lead to mutually beneficial agreements. 

How do you respond when your client asks you to do it cheaper?

What to Say When a Client Asks for Cheaper Pricing

1. Know if your market rate is competitive and communicate that effectively. ...
2. Educate the potential client on the complexities of the work and why it costs what it does. ...
3. Help the client evaluate their scope to see if they're asking for more than they need.

How to answer is the price negotiable?

How to respond to a customer's price negotiation request

1. Share the lowest terms you can offer and add variables. ...
2. Examine why they want to negotiate and actively listen. ...
3. Focus on the simplest issue first. ...
4. Trade discounts for concessions. ...
5. Convince them of the value of your product. ...
6. Negotiate as long as possible.

How to politely decline a price reduction?

An effective email for this approach might look like this:

“Hey [Prospect's name], Thanks for your interest in our product. We understand you want a discount on your order, and we deeply value your business. Unfortunately, we can't offer a discount at this time.

What does it mean when someone says you bet your bottom dollar?

said to emphasize that you are absolutely certain that something will happen or that something is true. A police insider was quoted as saying of the crime: `You can bet your bottom dollar Sinclair was involved. '

What is the bottom dollar effect?

The bottom dollar effect describes our tendency to transfer the negative emotions associated with exhausting a budget onto our satisfaction with a purchase.

How much is your bottom dollar?

If you bet your bottom dollar on something, you are so sure of the result that you would be willing to place a monetary bet on it—and your bottom dollar at that. What does bottom dollar mean? Your bottom dollar is the last dollar you have to your name; it's the last dollar in a stack.

What do you mean by bottom dollar?

bottom dollar (plural bottom dollars) (idiomatic) The last of one's money; all of one's money.

What to say when someone asks you what your budget is?

And someone asks for your budget... Just say I'm not really sure what I need. Go r me a low end, mid range, and upper end quote with my options. Then you can see what you will get and make a better decision about what you really need.

How to respond to a negotiation?

A good response balances your goals with the other side's needs, is clear and well-supported, and moves the negotiation forward. It avoids impulsive answers, instead showing preparation, credibility, and professionalism.

How to respond to someone asking for a lower price?

You could say, “This is the best price we can do for the scope of services we're offering. Now if you want less scope, we could certainly reduce the price. If you want to add scope, we could reduce the price as well to the extent that it afforded us an additional economy of scale.

How to bargain respectfully?

"Negotiation isn't a competitive sport." Here are other tips for smart bargaining:

1. Assume everything is fair game. ...
2. Don't be intimidated by a title. ...
3. Be willing to bargain for big bucks. ...
4. Give sellers a reason to negotiate. ...
5. Ask open-ended questions. ...
6. See whether the seller is anxious. ...
7. Decide on a fair price.

How do you say the price is too high politely?

Or, if you're looking to work with a specific contractor but their bid is too high, you can say something like, “We'd like to work with you on our project, but the price is higher than we expected. Can we discuss the aspects of this?”.

What to say when a client says you're too expensive?

Embrace what the client has said, and agree with them: “yes, you can get this done for less from someone else. In fact, if this isn't a good fit, then that's alright.” Then, pivot: “But, if things should change on your end, and you're not receiving the quality of work you want, please reach back out.”

How to deal with price sensitive customers?

Value-Based Pricing.

This strategy involves setting prices based on the perceived value of a product or service to the customer, rather than on the cost of production. By emphasizing the benefits, quality, and unique features of your offerings, you can justify a higher price point to price sensitive consumers.

What are the 4 C's of negotiation?

The 4 C negotiation strategy is an approach that aims to create a solid and lasting customer relationship while maximizing the results of a commercial negotiation. This method is based on four essential pillars to conduct an effective negotiation: Contact, Know, Convince, Conclude.

What are the 4 golden rules of negotiation?

These golden rules: Never Sell; Build Trust; Come from a Position of Strength; and Know When to Walk Away should allow you as a seller to avoid negotiating as much as possible and win.