There are so many reasons why people feel the need to offer a discount. Sometimes it’s because the prospect is crying poverty. Other times it’s because the prospect is a really good negotiator and convinces the salesperson that additional business is available down the road if they can receive a deal right now. And other times the salesperson thinks of the prospect as a friend.
Whatever the reason, be careful making this decision. There are always consequences to every decision you make. In this case, they include:
Devaluing Your Service
When you discount your prices, you are effectively saying your product or service is only worth that amount. Moving forward, that’s all your prospects are going to want to pay.
Full Service Is Still Required
Discounting your price doesn’t mean you can cut corners on your offering. You still have to provide the level and quality you would for someone paying full price.
Resentment and Discontent
If you feel like you made a mistake by discounting you will be unhappy and probably resent that client. However, you’ll still have to provide your best.
Think long and hard before you make the decision to discount your prices. While it may seem like a good idea at the time, it can create a situation that does not work for your business in the long run.
If this is something you could use some help with, visit my website at www.seizethisday.co and schedule a complimentary 30 minute phone consultation. And as always, remember to seize THIS day.