● Stay cool. If a customer asks for a lower price, remember that it’s just a business transaction, not a judgmental comment on your artwork, your gallery, or you.
● Know your limits, but don’t go there right away. If the customer can talk you into two small concessions rather than one big one, they’re more likely to be satisfied with the deal.
● Ask for something in return. A customer may be willing to use cash rather than a credit card, put their name on your mailing list, or give you something else of value in return for a lower price.
● Use negotiation to close the sale. “If I give you this price, will you buy it now?” is a great way to separate buyers from lookers.
In today’s economy, you can expect more and more retail customers to test the firmness of your prices. If you keep your wits about you and exclude emotions from the process, though, you can use that trend to build your sales.
Dave Donelson distills the experiences of hundreds of entrepreneurs into practical advice for small business owners and managers in the Dynamic Manager's Guides, a series of how-to books about marketing and advertising, sales techniques, motivating personnel, financial management, and business strategy.