Tired of prospects asking you to discount your product or service?
The next time any client asks you for a better price, here are seven surefire tactics to avoid discounting your product or service, thus maintaining your profit margin.
When a prospect or client asks “Can I get a better price?” … here are seven quick & easy options for you to share:
1) Find uniquely creative ways to take away or remove line items from your quote. First present your proposal to your prospect, then ask them to cross out what they don’t want—or don’t need—then recalculate their price on the spot—while you have their attention.
2) Present at least three options in your original proposal. i.e. packages such as Gold, Silver or Bronze. Or Good. Better. Best. Scaling each accordingly to your customer’s budget.
3) Offer your prospect a comparable substitute. Find an innovative way to offer them a totally different product. Specifically one that helps them achieve the results they’re looking for. Help your prospect understand you definitely have something that’s in their price range, and although it may not be custom—it certainly suits their budget.
4) Offer your client a free service with the purchase they’re making. Include something with your product absolutely free! For example: extra maintenance, training, support, etc. at NO cost!
5) Offer your prospect a gift … particularly something that complements what you’re selling. Something that doesn’t cost a lot, but adds value. For example: If you are selling a cellphone, offer an option of a free screen protector … or even a free case.
6) Offer financing options. Payment plans are always an attractive option to buyers. It allows your prospective client to get their financing in order, especially if it’s a “big ticket” item. You might offer first month use of your product or service free, followed by regularly scheduled monthly payments. Or better yet … offer your client no money up front, and provide a whopping 90 days net.
7) If you sell a product … see what your inventory is like. Often times you can share a refurbished” item with your client for a fraction of the cost. It’s not actually brand new—and yet you can offer the same warranties as a new product. And best of all—it will solve their pricepoint problem!
ONE MORE THING:
For every concession you make, ask for something from your client in return. GET CREATIVE!
In this case: when the client asks for a better price, explain that if they increase the size of their order, you can bring the price per piece down for them. Or … Instead of having them sign a contract for one year, extend the contract length to 18 months or 2 years … you then can be creative and bring any monthly fee lower.
We’re JC Marketing Communications—
wishing you a very blessed week!