When To Offer A Discount
How do you respond when someone asks you for a discount? Do you feel compelled to offer one or are you comfortable saying no?
Many people struggle with what to say when asked for a discount. A little over a year ago I published an article with some specific language of what to say when asked for a discount called When A Client Asks For A Discount.
Here’s a little something more to expand on the topic of discounts. The focus of today’s article is for people who are inclined to give a discount when a client asks for one.
The suggestion is when offering a discount that the client specifically requested, ask for something in return. This builds value for both the client as well as yourself. It creates a win/win relationship.
For instance, recently a corporate client asked if I’d be willing to offer a discounted rate on my training fee. The client had a specific reason for the request which was to keep it within the budget for the year. My response back to the client was, “I’d be happy to extend the pricing you’ve requested with a signed agreement for nine trainings over the course of the next nine months.
The client was thrilled as the training now fit within their budget, and I was thrilled to have an agreement for nine trainings over the next nine months. This was a win/win. Both parties got what they wanted, and both gave something to get it. It was mutually beneficial.
Your Savvy Sales Tip this week: When a client requests a discount, ask for something that benefits you in return.
My rule of thumb is the client either needs to be willing to pay in full before the start of service or commit to a larger package.
Of course, beware of offering discounts that only benefit one party. Chances are you or your client will end up regretting the deal, and this may damage the relationship long term.
Agree? Disagree? Have additional thoughts on this topic; please leave a comment.
Wishing you continued success in all you’re doing.
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