{"id":863,"date":"2019-03-13T08:53:38","date_gmt":"2019-03-13T08:53:38","guid":{"rendered":"https:\/\/c1mdevsite.com\/360consultingdfw.com\/?p=863"},"modified":"2019-05-07T20:43:56","modified_gmt":"2019-05-07T20:43:56","slug":"protect-your-business-from-the-discounting-trap","status":"publish","type":"post","link":"https:\/\/c1mdevsite.com\/360consultingdfw.com\/protect-your-business-from-the-discounting-trap\/","title":{"rendered":"Protect Your Business From The Discounting Trap"},"content":{"rendered":"

Everyone is looking for a deal. In fact, deals are all around us, and most consumers aren\u2019t willing to make a purchase unless they feel they\u2019re getting a great discount. We\u2019ve all been there, in the heat of a competitive deal and really looking to close, so we offer a discount. No harm, no foul. However, if this practice becomes habit you may actually be doing serious harm to your business<\/strong> in the long run.<\/p>\n

Discounting is a slippery slope. And once you see how easy it is to close on a deal thanks to discounting, you may turn to it more than you intended until eventually your customers just expect it.<\/p>\n

Want to avoid falling down the discount spiral? Here\u2019s what we recommend.<\/strong><\/p>\n

 <\/p>\n

Five Tips to Keep Your Brand Safe from Price Traps<\/strong><\/h2>\n

Long-term success and sustainability are at stake, so take the following tips to heart to keep your brand safe from price traps.<\/p>\n

 <\/p>\n

1. Focus on Relationships<\/h3>\n

When engaging a prospect, it\u2019s obvious you want to make a sale.<\/p>\n

But if you shift your focus to building a long-term relationship, the rest will occur naturally.<\/strong> You want to make sure that your potential new client and you are on the same page.<\/p>\n

You can do this by enacting a clear plan to convert the client-advisor relationship to a partnership<\/a><\/strong>. When you\u2019re offering quality, they won\u2019t expect a discount.<\/p>\n

 <\/p>\n

2. Give Something Away (Once)<\/h3>\n

If you give out a freebie only once, you\u2019ll entice your customers without affecting your long-term pricing.<\/strong> For example, if you offer tech services, consider doing a free set-up but maintaining your yearly license fee.<\/p>\n

 <\/p>\n

3. Never Low-Ball Yourself<\/h3>\n

Doing so may allow you to win a client, but is that really a sustainable relationship?<\/p>\n

Remember, it\u2019s a marathon not a sprint. If you bring a client on with low rates, they\u2019re always going to expect the low rates. They\u2019ll feel entitled to deals and will likely jump ship if you ever decide to raise fees. <\/strong><\/p>\n

If you teach your customers to buy on price alone, they could move to a competitor for a better price.<\/p>\n

Be careful, it\u2019s a trap!<\/p>\n

 <\/p>\n

4. Highlight Your Value<\/h3>\n

When discounting is discussed, it puts all the focus on price.<\/p>\n

However, the discussion should have always been about the amazing value and quality service you do or the product you have. You\u2019re doing your brand a disservice when you move the spotlight away from all the great things you have to offer. <\/strong><\/p>\n

Do you really want customers referring you by saying \u201cThey have the lowest prices!\u201d rather than \u201cThey offer incredible service!\u201d ?<\/p>\n

 <\/p>\n

5. Show Clients They Can Trust You<\/h3>\n

It may seem counterintuitive, but sometimes discounting can breed distrust. If you offer a low price, some clients may wonder if the original price was even fair.<\/strong><\/p>\n

This is another aspect that will likely destroy the potential for a long-term and sustainable relationship.<\/p>\n

 <\/p>\n

It may seem like you don\u2019t have many options, but the truth is you must know your worth. Justify your price, be open with prospects, and follow through!<\/strong> When you do these three things, your clients won\u2019t second guess your offerings. Shift your focus to offering value and building true partnerships.<\/p>\n

Feel like you need to make some changes to your selling process? <\/strong><\/p>\n

We can help! See how we do it in this blog post<\/a>.<\/p>\n

Learn more about our services here<\/a> and schedule<\/a> your free consultation today!<\/strong><\/p>\n

 <\/p>\n

 <\/p>\n

Image attribution<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Everyone is looking for a deal. In fact, deals are all around us, and most consumers aren\u2019t willing to make a purchase unless they feel they\u2019re getting a great discount. We\u2019ve all been there, in the heat of a competitive deal and really looking to close, so…<\/p>\n","protected":false},"author":1,"featured_media":864,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_links_to":"","_links_to_target":""},"categories":[12,7],"tags":[86,88,85,87,84],"_links":{"self":[{"href":"https:\/\/c1mdevsite.com\/360consultingdfw.com\/wp-json\/wp\/v2\/posts\/863"}],"collection":[{"href":"https:\/\/c1mdevsite.com\/360consultingdfw.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/c1mdevsite.com\/360consultingdfw.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/c1mdevsite.com\/360consultingdfw.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/c1mdevsite.com\/360consultingdfw.com\/wp-json\/wp\/v2\/comments?post=863"}],"version-history":[{"count":4,"href":"https:\/\/c1mdevsite.com\/360consultingdfw.com\/wp-json\/wp\/v2\/posts\/863\/revisions"}],"predecessor-version":[{"id":1209,"href":"https:\/\/c1mdevsite.com\/360consultingdfw.com\/wp-json\/wp\/v2\/posts\/863\/revisions\/1209"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/c1mdevsite.com\/360consultingdfw.com\/wp-json\/wp\/v2\/media\/864"}],"wp:attachment":[{"href":"https:\/\/c1mdevsite.com\/360consultingdfw.com\/wp-json\/wp\/v2\/media?parent=863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/c1mdevsite.com\/360consultingdfw.com\/wp-json\/wp\/v2\/categories?post=863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/c1mdevsite.com\/360consultingdfw.com\/wp-json\/wp\/v2\/tags?post=863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}