Almost all entrepreneurs go through this at different points of time. There are prospects and clients who want to squeeze as much as out of you as they possibly can.
While it is acceptable & standard practice to expect a good deal when purchasing a product or service, there are some that just take it too far.
It’s nearly impossible to stand your ground during those instances.
On one side, you’d like to take the business and on the other side, losing out and giving that offer would possibly bring your profits down (although you’d still take another sale for the revenue increase).
But you know deep down, if you bite into his negotiation and present your offer, he is going to want to squeeze more out of you next time.
So how do you break out of this rut and deal with clients who bargain?
From my experience as an entrepreneur, I’ve found that it is NEAR impossible to avoid people looking for a bargain or discounts for products and services.
And there are some people who just take it too far.
However, these are 3 things that I’ve done and I’ve seen other entrepreneurs do which has helped them keep the bargain hunters at bay and grow their businesses successfully…
Attract The Right People
When you have a large volume of qualified leads who are driven by the urgency to solve their pain (that your product/service solves), they care very little about a bargain.
They are wiling to go with your offer as long as they know you can fix their problem and that you’re giving a good deal.
But in order to attract such people, it’s important to build your pipeline up.
When you have a large volume of leads that you work with on a regular basis, you’ll attract a higher portion of the right people thereby being able to keep the bargain hunters at bay.
Establish Your Brand Story, Value and Trust
When you establish your brand story and unique proposition, you must NEVER focus your message on being the cheapest or the lowest priced solution for the product/service that you’re offering.
Instead, your message and the mission of your business must have a BIGGER brand story, a more meaningful and impactful message.
For example – focusing on the tangible results that your product/service offers and how those results are better than most other options in the marketplace.
And also, I recommend shifting your brand story towards an altruistic motive or presenting an altruistic motive behind the brand story.
This will naturally weed out bargain hunters and tirekickers because they wouldn’t be able to resonate with your offer.
Create A Selling Environment Where There Are Few Perceived Options
The easiest way to get your customers to purchase your products or services at the price you’re offering is by creating the perception that there isn’t a second choice or an alternative.
You do this by creating a structured funnel and taking people through a selling process where you present your offer in a way that it completely stands out from the competition and your competitiors just can’t find another provider with a Google Search.
For example, when we offer our Digital Marketing Programs or services, we don’t offer them as just another Digital Marketing Service or a SEO Service.
Instead, we take an advisory role of the entrepreneur’s business, understand their goals and create a holistic plan (across platforms) that will help them reach their goals.
No other digital marketing company could compete with this (or even if they do), you can’t find these things in a Google Search.
As a result, customers take us at the price that we offer (as long as we offer them a good deal).
