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You need to be at least 10% cheaper than your competition
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That's the usual approach price-driven prospects (especially purchasing, procurement —or the accountant) will take on you to lower your price. And it's fine. It's their job to do that. And they're trained to do so. Now, whatever they say is not mandatory for you. You can always say "Thanks for this. This doesn't feel like a good fit. So I'll pass." "Out of curiosity... where's this number coming from?" "We could explore something like this. I'm curious, though... what is it that made you talk to me re: this project? The (unknown) price?" If everything they focus on is "the price" and not on what it brings to them, or the impact it'll have in the business, you're talking to the wrong person. These are the budget keepers, not the value creators. Find the ones who care about the value (aka what matters for the business and the impact of the implementation). Or walk away. You can always walk away. :) |
Rod Aparicio
Get one tip, question, or belief-challenge that just might change the way you market, to help your customers buy. A *daily* email for b2b founders on improving your business —without the bullshit.
If you're going to discount, here's a more detailed view of yesterday's rules: Specific.Needs to explain WHY they're getting the discount. In exchange for something in return.Needs to say what's being given in return for the discount. Explicit.Needs to be stated in the proposal what, how and why the discount is there. Time-bounded. It has to be in a defined timeframe.Needs to be a take it now, or leave it. Written at the end of the quote/proposal for what it is "Discounted price".Price →...
Giving discounts: taking a price off of something —or adding something up to your offering. But... what's the reason (or reasons) to give a discount? Is it to give it when they ask for it? Is it to close the deal? Is it because you have no power in the negotiation? Is it because they have all the power in the negotiation? Is it because you can't say No? Is it because they don't have money? There can be a million reasons (or even more). And that's fine. One thing you can ALWAYS say, and need...
Do you give discounts? If so, how does that go?