Why? Because if you give up a discount for nothing in return, your prospect will ask for something more. It signals to the prospect that it’s time to wheel and deal.
Things to ask for in exchange for a discount:
- A letter & testimonial from the customer you can use
- The ability to show the customer’s kitchen to new prospects
- A referral- that I could use on the phone to close a future deal
- Some sort of announcement in the customer’s social media circles (Twitter, Facebook, YouTube, etc.) to their friends about the kitchen we installed.
- A certain % now, and an additional % later after they refer a friend and that friend buys.
And if you’re really good- you’ll get all of the above, then everybody wins.
Remember, the more of a discount a prospect asks for, the more you ask for in return. If the prospect feels that what you are asking is unreasonable, well then you’ve accomplished a very important step during discount discussions. You’ve set the perception of the upper limit of discounting, without saying the word “No.”
Always have a few doozies to ask for in exchange for a discount. For example, if a prospect asks you for something really unreasonable, don’t be afraid to ask them to spend the entire week with you at the upcoming home show helping with the booth and the talking with prospects so you can close more deals.