Customer buys product. A sale is offered a week later. Said customer asks for a reduced price on the already-bought product — essentially, a partial refund (even though they are delighted with the product).

Because we are caring people, we are torn. On the one hand, you sympathize with the customer; you may also not want to alienate them as a future customer. On the other hand, dammit, that product is worth what was paid and a sale is a sale because it is only offered for a defined, limited time.

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Do you find yourself competing on price? Do you often talk to a prospect, think you have made the sale and then they decide to shop around and buy based on price? If this sounds familiar, then potential clients probably perceive you as a commodity. They think the service you’re offering is much the same as the service offered by LOTS of other people. So it makes sense for them to shop around and buy the cheapest. Wouldn’t you? Read the rest of this post »

What’s next after someone becomes your client? What’s next is to deliver on what you said you would, and more! As they say, "Under promise and over deliver." People expect you to deliver results. Surprise them by also going the extra mile over and over again. 

As soon as you get a new client, thank them for doing business with you. Send them a thank you note, an extra report or something of value. Let them know that you appreciate their business and show them you care about them. One small act that shows how much you value your new client can create a client for life. 

The formula for having your clients turn into raving fans is: good product + great service. Interestingly enough a good product + bad service gives you unhappy customers no matter how good your product is. 

A study has shown that it takes 16 times the effort to get a new client as it does to sell to an existing one. So treasure them all and treat them like a $1m client.

Are You Happy With Your Price? 

Just suppose you were able to get as many clients as you wanted at $x, ask yourself:

• -  Would you be happy?
  -  Is $x a fair exchange for the value clients will receive?
  -  Will you resent or appreciate your clients at this price?
  -  Will you be inspired to go the “extra mile” in service at this price?
  -  Would you attract your ideal client at that price?

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The problem with just giving a discount by itself is that you have given something away and have asked for absolutely nothing in return.  You’ve just created a win/lose situation. The potential client has "won" a discount amount and you have "lost" it. Also, just because you’ve agreed to a discount doesn’t mean you’ll get the sale, in fact, quite the opposite. You may have damaged your credibility to the extent this person no longer trusts you or wants to do business with you.

Instead ask if money is really the issue.  If it is, instead of giving a discount, you lower the price by taking out something of value. This is a win/win choice.

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Hi

Could you please take just one minute and tell me your biggest challenge with pricing?

Please visit this link to answer this one question.

http://www.salesconversation.com/pricingquestion/

It will take you less than one minute.

I will summarise all the answers and post them back on the blog for you.

Thank you for doing this.