Discount please!!

That moment you think the deal is done...and then your prospect utters the following:

"We'd love to move forward but will need a discount."

Early on in my sales career I'd crumble in this situation, unable to control my emotions.

I'd cave in quickly and offer them a deal.

Or I'd tell them that I'd speak to my manager and 'do all I can' for them.

Big mistake.

They'd sit back and say something like:

"You can do better than that."

"I have full faith in you Scott (now run along and be a good boy)."

All the power was with them and they knew it.

And the reason for that?

All down to me.

My own fault.

My own weak behaviour.

Buyers are taught to be tough negotiators.

As sellers we need to learn how to stand our ground and give as good as we get.

We need to be prepared, self-confident, professional, and always one step ahead.

Something along these lines...

Prospect:

"We'd need a discount."

Salesperson: "Oh." (surprised tone)

"You'd need a discount?" (Voss mirroring technique)

Prospect: "Yes, give me your best price."

Salesperson: "Can I ask, what's the rationale behind this?"

Prospect: "I always do business this way - so I'll need a sweetener to come on board."

Salesperson: "Right I see. Did you feel the deal lacks value in some way? (pause...let them fill in the blank)

"It's just that I have a long list of clients paying full rate and couldn't possibly justify a discount as I know the value they get far outweighs the cost.

Is there anything you're unsure of?

Or did you want to take certain elements out to bring this in line with your budget?"

This approach of initial surprise, high self-confidence, assertiveness, and pushing back (respectfully) is powerful.

The onus is on your buyer to then justify themselves.

And if you ever do go down the discounting route (not recommended) never EVER say you'll do something unless you get them to agree to also do something for you:

"I really don't think that would be possible Mr Prospect, but let me check...and if there is anything I could do (no promises) then I'd need you to do the following..."

And by the way, none of this is a trick or ruse.

If you have confidence in your solution and associated price point, why would you ever need to discount?

Dropping your price easily demonstrates weakness (professionally & personally) and that you're already too expensive for your service.

Reducing your cost quickly is a big red flag to buyers and will often set off alarm bells.

And rightly so.

So stop.

Think.

Be calm.

Control your emotions.

And be assertive.

And stop getting pushed around.