One of my favourite bosses ever, used to (literally) scream this at me before clients meetings.
“Jess – don’t drop your f-ing pants on that deal/ negotiation/ sale”
They was way back when I was selling people.
(Recruitment, not trafficking.)
We were one of the most expensive companies in the world.
When other people charged 15%, we charged 33%.
We were asked for discounts daily.
But we very rarely gave them.
You see, when someone WANTS to buy something and has been through the entire sales process (built a relationship, been on the sales calls/ navigated the proposals etc) and they’re finally talking about money?
They’re just looking for CONTROL.
To feel like they’re ahead.
The money itself doesn’t matter.
They’re actually looking for reassurance/ they don’t believe that THEY can take the action/ they don’t believe that you can help them.
The money itself, can usually be found if someone wants something badly enough.
^^^ THAT is the key to not discounting.
When we put out ‘flash sales’, we do two things;
- We appeal to people who are colder in our audience and try and convince them to buy something that they potentially don’t need / want BADLY enough. And so the strategy is hit and miss – because the problem is not painful enough for them to solve.
- We TRAIN our audience into thinking that we love giving discounts. And once we know that discounts are available, it makes us (as humans) think that we’ll ‘just wait until next time they offer it cheaper’.
How can you sell an offer immediately WITHOUT dropping your pants and discounting everything?
1. Market Research
Do your audience actually really want and need what you’re selling / want to sell right now? Do some decent market research and figure out what their biggest issue is – and have a solution that solves the problem. Focus on finding something that they need and want – and you’ll never need to discount 🙂
2. Set Your Boundaries
If you’re someone that consistently bundles up ALLLL of your successful programmes/ services on Black Friday and offers them at 72% off… then you’ll train your audience to wait for BF every year so that they can ‘score a deal’. If you really want to discount, know your boundaries – and share them with your audience; ‘If you don’t grab it at this sales price, then you will lose it forever. I will NOT be offering it at this price again – or in any bundle etc etc.” <— and MEAN it. No use saying it if two months later, you’re going to use false urgency again 🙂 If you want to know how to create real sales urgency, check out this podcast episode.
3. Sell Well
Simply, don’t be apologetic when you’re selling. If you want the cash-ola, TELL PEOPLE. Write sales pages that are assumptive. Make your copy compelling. Record a video that talks about how bloody brilliant your offer is. Create content that sells.
Choose the medium that suits you (video, written, audio etc) and share exactly why they should buy it. Focus on BENEFITS, not features – and don’t be afraid to tell people how great your offer really is.
** And if someone asks for a discount?
If it makes commercial sense (they’re buying a thousand products) to give a discount – do it. Just don’t go in with an offer that puts you out.
Discount sensibly; 2%/ 5%/ 10% – know your limits.
And if it’s someone just being a cheeky toerag?
Unfortunately I don’t discount in my business because it’s unfair on the clients who pay me full price to achieve [OUTCOME]
If you’d like to talk about another option in your budget range, then I’m happy to chat.”
If you’re a business owner who’s tired of clients disrespecting your boundaries; paying late, rescheduling calls at the very last minute, trying to harvest clients from your communities… then you’ll love my Bossing Your Business Scripts. So you can stop saying yes to things that don’t serve you. Without sounding or feeling like a total B-I-T-C-H.
Enjoyed this blog? Then please share it using the social buttons below with those who you think would also benefit. Together, we can bust the BS business myths that are wandering around the internet 🙂