Tip of the Day: How your customers know they’re about to get a discount
Isn’t it funny how, in the desperation to close a sale, so many sales people are willing to offer a discount before they’re even proactively asked for it? In fact, more times than I care to mention, I’ve seen discounting be used as the reason to open a conversation. For some businesses, this might be a good strategy, constructed with a specific purpose in mind. However mostly, it’s just a way of losing money unnecessarily.
You may be doing this without realising it – pitching a discount into reality. Here are some sentences to avoid so that you’re not advertising free stuff off the bat.
- ‘That’s the published price’: This is a clear way to build customer expectation that there’s another invisible, better price, just waiting for them.
- ‘Let me see what I can do’. You’ve just told them that you’re about to work on their behalf to get them money off.
- ‘I’ll check and get back to you’ Why? What are you going to check? The other price list where to have your losses outlined?!
Your product or service is worth what people are to pay for it. Don’t let your customer convince you that they are entitled to a discount for arbitrary reasons. Your price is your price, and needs to factor in profits and business development. If you make discounting a regular practice, it won’t be long before your cutting costs forces you to cut corners.