Don't let your important customers to dic

Price Negotiation 

September 08, 2016
" Don’t Let Important Customers Pressure You into Giving Them a Discount ! " 
When a customer knows that you can’t afford to lose them, they’ll often try everything in their power to wring out cost savings. 
But don’t give into the pressure to give them a discount. 

(1) Change the tenor of the conversation by focusing on the VALUE you create for them.

(2)  Ask which features or services they’d be willing to GIVE UP  to get a lower price. Doing so will move the conversation away from haggling and toward a productive discussion about what they really value. 

(3) And don’t get rattled if your customer goes quiet, stops returning phone calls, and ignores you. 

Remember, you are their preferred supplier for a reason, and there will likely be substantial SWITCHING COSTS, if they want to change vendors. Silence is a powerful negotiation tactic; don’t let it push you into giving a revenue-destroying discount.

Adapted from “Negotiating with Clients You Can’t Afford to Lose,” by Reed K. Holden