Even worse, discounts are infectious.
They spread to new customers who have been referred by existing clients.
Naturally, each one will want the same 'break' their colleagues have been given, if not more.
And, giving money back becomes a crutch for you.
We are all creatures of habit, and if you find yourself cutting prices to close deals, then chances are you'll continue doing so in the future.
Price - The Number One Objection: The most common objection, for any product or service anywhere in the world, is "your price is too high.
" You'll see this one again and again, so it's important that you be able to counter it effectively.
Deal with it the right way, and you can come away with a great sale at a good margin.
Get it wrong, and you haven't just taken a cut out of your paycheck, you've taken it out of your future income as well.
I've written and said many times before that a good salesperson doesn't cut their price without a very good reason.
I believe this is one of the most difficult, but also most fundamental, elements of a sales career.
Customers are sophisticated.
They know all about you, your products and your competitors' products.
They'll try to use this knowledge to get you to bring down your price, because experience has taught them, that all they have to do is ask.
That's because most salespeople are too weak to hold onto their prices.
The pressure of negotiation, especially so close to the finished deal, becomes too intense for them to stand their ground.
So, after all the hard work they've put into the sale, they give in and let the customer have some of their pay back.
Price Is Not The Issue: In the minds of most salespeople, price is the major issue.
Yet in the minds of our customers, it is not.
Delivery and value are.
Don't believe me? Let's take an example from everyday life.
Suppose you want to send a gift, like flowers or cookies, to your loved one on their birthday, but you've forgotten to pre-order them.
So, you call the florist or vendor, and they give you a cost for what you're looking for.
Only, as you're about to complete the purchase, they mention that you're too late for a same-day delivery.
Your order will have to go out tomorrow.
What is going to be your first question in this situation? Are you going to ask for a discount? Of course not! You're going to find out how to get something today.
In fact, you'll probably offer to pay more in order to make it happen.
Your buyers are no different.
They may or may not need what you're selling right now, but in their minds, value and delivery are more important than price.
Many of them will ask for a discount almost out of habit, and they'll hope to get it.
But what they really want is the best solution for their problems, not necessarily the cheapest.
Customer Tactics: Remember, your customers are expert negotiators.
They've worked with enough salespeople in their personal and professional lives to know how to push buttons and ask for discounts.