Facebook Twitter LinkedIn YouTube  Instagram Meetup 

Just say NO to Discounts

Kevin Willett Says to respect yourself and respect your value

I had someone contact me recently about running ads on my website. I gave her my price, she asked for a lower price. I respectfully declined and she could not understand why. I told her my other advertisers were all paying the rate that I offered her. How could I justify to them that she was getting a lower rate? People talk and you know that someone would find out. Then, going forward, if someone wanted to place an ad, they too would want a special rate.

I understand that sometimes “sales” and “specials” are a necessary cost of business. Maybe sales are sluggish, and you want to give them a boost. Revenue is down and you need an up month. OK, as a business owner you must do what needs to be done. But understand that by discounting your product or service you are conditioning customers to de-value what you are offering them. Discounting lessens the perceived (and therefore, actual) value of your product or service.

Do you have a hard time saying no or letting a deal fall through so you give in and give away discounts? Instead, simply say “I’m sorry but we don’t offer discounts. We believe that our service/product offers more value for your money and it will be unfair to our other customers if we make an exception.” If the customer/client gives you a hard time or is aggressively persistent, maybe they are not the right customer /client for you.

In the end, respect yourself and respect your value.

Watch my YouTube Channel  for more on this and other Business Networking Tips

Kevin Willett is the Author of One Connection How you can grow your business  (and change the world) one connection at a time. The business networking book is available on Amazon. Purchase One Connection on Amazon

Kevin is also the CEO of the Friends of Kevin Networking Group  and the New England B2B Networking Group. Please connect with him on social media to hear about his upcoming business networking events

Video