BY MATT SELLHORST

Those days are gone and we are now left to deal with more price-sensitive buyers and those with trades whose ACV ’ s are not exactly what they ’ d hope to be ( that ’ s a conversation for another day ).

Before we get to the answer , let ’ s go back to when you were a kid . Remember when you visited a hotel with a pool and hot tub ? What did every kid in the world do ? They ’ d go back and forth from the hot tub to the pool . But , why did we do it ?

If you ’ re like me , it was because it blew my mind that when I got in the pool , the water felt nice . Maybe even warm . But , when you get in the hot tub for a bit and jump back into the pool … the pool water was now freezing , right ?

OK , did the pool water get colder all of a sudden ? No , of course not . Your body ’ s thermostat was adjusted way up , so the pool ’ s water just felt cold .

And that leads us back to handling the question , “ How much is that boat ?”

You can do what 90 % of salespeople I ’ ve mystery shopped at a boat show , showroom or on the phone do . They will say , “ Oh , it sells for $ 50,000 .”

Now , maybe there ’ s some room to negotiate on the deal . But that price is often about the lowest price they can quote without getting in trouble . Or , at a minimum , it ’ s right at cost-line .

So , the prospect ’ s pricing thermostat is set at $ 50,000 , which feels like they probably need to really negotiate to get a good deal .

Now , what happens when the salesperson uses the pricing thermostat method and says , “ Oh , that boat is $ 72,482 however , because it ' s after Labor Day , we ’ ve discounted it down to $ 51,984 .”

The pricing thermostat now works in your favor

because the first number they hear is MSRP ( think hot tub ) so even though we are quoting a higher price by almost $ 2,000 , the discounted price feels much lower ( think “ cold ” pool ) to the prospect .

Using some simple psychology in your sales presentation and marketing can have a tremendouse impact on your results .

This month ’ s challenge

Role-play the pricing scenario with your sales

* Rewards may vary . team on this price presentation strategy . If you do , you ’ ll close more deals and reduce unnecessary discounting .

Matt Sellhorst is the founder of Boat Dealer Profits Marketing Agency and author of the only business-building book for the retail boating industry , “ Boat Dealer Profits ; How the SPLASH System can help you sell more boats , make more money and have more fun .” Claim your free copy at www . BoatDealerProfits . com / freebook

Scan to start earning !

www . boatingindustry . com October 2023

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