Resisting the 'Discount Pressure'
The Site Shed | Systems, Strategy and Growth for Tradies and Contractors · Matt Jones - Trade based business enthusiast
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Show Notes
Series: Ethical sales delivering healthy margins Guest: Jon Dale from Little Fish Business Coaching
We’ve all been guilty of thinking that discounting our products or services is the only way to sell them. Whether you have done it before or are contemplating doing it, let me tell you, that is not a smart business move.
Why? First of all, it devalues your product. Second, knowing full well that you will eventually sell it at a lower price, people will be more likely to wait for you to discount your product instead of buying it at its full price. It is essential you learn this lesson and not fall into the trap of resorting to discounting your products.
If you’re interested in sales, you’ll want to listen to these.
- TSS085 – More trust equals more sales – [LINK]
- Selling like a $30 million company – Part 1 | Part 2
- TSS067 – Selling to the right customers – [LINK]
- TSS065 – Knowing your hourly rate – [LINK]
About this podcast, ‘Resisting the Discount Pressure‘
Podcast Highlights:
- 03:10 – Recap
- 04:42 – Resisting the pressure
- 05:49 – Flat rate model in relation to discounts
- 07:45 – Two strategies with discounting
- 10:52 – The problems with discounting
- 12:32 – How knowing your power and the sales process connects with avoiding discounting, and having the ability to say no
- 18:45 – Confidence and resisting the pressure from yourself
- 23:32 – Remind the people of the value in your service and let them choose
In this third episode of our series ‘Ethical Sales Delivering Healthy Margins,’ our guest Jon is back to talk to us about resisting the discount pressure. He continues the discussion with a quick recap of the first two episodes of this series, before tackling why you should resist giving in to the pressure.
Discounting is expensive, and it’s really helpful to understand how your power and the sales process ties in with communicating your prices adequately and avoiding discounts. Finally, Jon reminds us to do enough marketing and to do it properly.
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