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ARE YOU GIVING AWAY THE FARM WITH YOUR SALES DISCOUNTS?

Horse_Farm_318_shadowA discounted sale is better than no sale…right?

Certainly not always, and most likely not as often as you may think.

A common frustration among leadership above sales teams is that their salespeople give away too many discounts.

They’re giving away profits they could have retained if they were better prepared to respond to the steady stream of requests for discounts they receive from buyers.

Sales trainer, keynote speaker & coach Don Cooper, a.k.a “The Sales Heretic” (@doncooper), recently took on this issue head-on with a very useful blog post titled, Nine Reasons Salespeople Discount When They Shouldn’t.”

Cooper gets it right when he writes:

Buyers will never stop asking for discounts, for the simple reason that it’s in their best interest to. Salespeople need good reasons to be able to say no.

The post goes into the most common reasons why sales professionals give discounts when they really shouldn’t do so. Copper explains each one of them convincingly, and I agree these are the typical reasons why discounts are given.

A few of them include:

  • Fear of losing the sale
  • “Everybody does it.”
  • Unable to articulate the value

It’s the final reason, #9, that really sums up what’s needed at a foundational level. Addressing this issue with this one solution takes care of the other 8 reasons why discounts are too often given.

You’ll need to read Cooper’s post to find out what that ninth reason is.

With all of this said, are there times when discounts can or should be given? Yes, those situations certainly do exist. But, over time we gain experience and understand better how those moments are fewer and further between than we once thought.

[Reading Time: 1:30]

QUESTION ::: Can you think of a time when you gave a customer a discount when you really shouldn’t have done so?What was that situation and why don’t you believe a discount was the right call?

Let’s talk about it…

Click here to download our free guide:
2015 Guide to Sales Optimization: Restoring Sanity to Sales

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FRIDAY SALES GROWTH LINKS ::: STORYTELLING, TALKING PRICES & MORE

Story_290_shadowThis week’s links offer a reminder about storytelling in sales, getting away from me, myself and I, a healthy dose of inspiration and some frank talk about price.

Come back and visit this blog every Friday for my Friday Sales Growth Links feature where I filter online resources to help you grow in your sales career:

INCREASING SALES :::

ExceedSales.com
Storytelling in Sales: Improve Your Sales Success
Exceed Sales (@elisaciarametar) has an excellent guest post by Christopher Kogler (@cakogler) focused on a single example of the power of storytelling for sales professionals. If you aren’t consistently using the power of storytelling…congratulations! I say that because this is low-hanging fruit within your grasp.

Promise me you’ll at least click to read the last paragraph, if you do, I promise you’ll want to go back and read the rest of the piece. #storytime
[Reading time: 1:30]

Sales Wars Blog
“You” Messaging for Better Sales Communications
This guest blog post on “You” Messaging, by Andrew Moravick (@amoravick) for @AberdeenGroup is both a reminder for all of us and a deeper dive into examples of what this kind of communication is and is not.

In my experience, this communication technique consistently works [much better than not using it] in all industries, in all markets, for all types of people and for all types of products and services. Thank you for posting this one @quotafactory. #itsaboutthem
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OVERCOMING EXCUSES :::

The Sales Hunter Blog
Why Your Sales Team is So Afraid of Price (and What You Can Do About It!)
I really like Mark Hunter‘s (@thesaleshunter) boldness and accuracy on calling out an issue too many sales professionals use as an excuse for not having more sales. Are you willing to read it to see if you’re guilty…even a little bit? His four tips at the end of the post are excellent. #getoverit
[Reading time: 3:00]

INSPIRATION :::

CloserIQ
21 Inspiring Dale Carnegie Quotes to Rescue Any Bad Day
Vi-An Nguyen, for CloserIQ (@CloserIQ), accomplished two important things with this post. First, no doubt is left that Dale Carnegie is still relevant today. And second, this isn’t just a list of quotes from a single source. She created a resource for those days when you can use some encouragement from someone who knew a thing or two about sales since he knew more than a thing or two about people. #wisewords
[Reading time: 3:30]

>>  View past posts for Friday Sales Growth Links  <<

 

Click here to download our free guide:
2015 Guide to Sales Optimization: Restoring Sanity to Sales

Read more »

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