As a business owner, you’ve probably heard the classic question, “Can I get a discount?” more times than you can count. It’s a common request, but it’s also one that can be tough to handle. After all, nobody wants to turn away business, but at the same time, giving discounts can erode the value of your products and services. So, what do you do when faced with this situation?
The answer is simple: don’t let people pull the value down.
Instead, have mechanisms in place to push the value up.
Here’s how it works.
When someone asks for a discount, you might be tempted to say yes to close the sale. However, this sends a message that you’re not confident in the value of your products and services. Instead, respond by saying that giving a discount would be unfair to your other clients who have paid full price.
This sends the message that you stand by your prices and value what you offer.
But that’s not the end of the conversation…
Offer an alternative solution by saying, “I cannot give you a discount, but I’ll tell you what I can give you this extra thing.” This opens up an opportunity to provide additional value to the customer and make the sale. What “extra thing” you offer is up to you, but it could be something like a free trial, an added bonus, or extra support.
By pushing the value up, you’re not only standing by your prices, but you’re also showing the customer that you’re willing to go above and beyond to make the sale. This can lead to a stronger relationship with the customer and a greater perception of the value of your products and services.
In conclusion, don’t let people pull the value down. Have mechanisms in place to push the value up by offering extra value when faced with the question, “Can I get a discount?” Not only will you show confidence in your prices and products, but you’ll also build stronger relationships with your customers.