REDBAND: Maintain Price Margins and Keep the Sale When Clients Go Price Shopping By Todd Anthony Puma

It happens in every industry, to everyone. It’s what killed Border’s and Circuit City. Price-shopping online. We’ve all felt the pain of a client taking our estimate, after we’ve put in hours of work to formulate the perfect package for them, and then calling us back a day later telling us how they can get everything cheaper online, completely ignoring our expertise and time put forth to recommend just the right product. I’ve found it tends to happen more in the middle-market (jobs under $30,000), but will still occur in the high-end as well.

While it is tempting to get into a negotiating and bargaining back-and-forth to salvage the sale, there are some other great tips I’ve learned along the way to help maintain margins and keep the sale. Some of these I’ve had the great fortune of being taught by people who’ve been there, done that, and some I’ve learned on my own through trial and error.

Just today, one of my very close peers got a call from a client in Queens whom he had gone to visit several months ago after Hurricane Sandy. The client was rebuilding his flooded basement and wanted to make it a family room and listening room. He was originally looking at a few different brands of speakers, receivers, and remotes but my friend steered him toward Paradigm Studio towers, center and surrounds, a Marantz SR7007 and a URC remote, along with all of the ancillary products. He was pinging the integrator constantly with questions, and I just knew he was trying to bleed him for information so he could either work with another integrator or try to do it himself….

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ToddRedband

Todd Anthony Puma is the CEO & Founder of The Source Home Theater. Check out his  website at The Source Home Theater and follow him on twitter at  @ToddAnthonyPuma .

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