Is discounting slowly killing your B2B business? While performing an account review for a client recently, we heard a seasoned sales rep ask “Can we ‘motivate’ the customer to buy?” Wait. Did we hear this right - did he just ask his boss for a discount?
If you’re selling a product or services within a complex sales cycle, it might not seem like a bad idea to throw in a discount to get that sale over the line. But here’s what happens when you dangle a discount to encourage a sale; the prospect now has that discount tucked away for when they’re ready to buy - not before. The sales cycle hasn’t been shortened at all, and your salesperson still needs to find a way to guide the prospect towards the dotted line.
While you might be able to absorb the occasional cost of a discount, this practice creates a mindset and crutch that slowly erodes your profits without making the intended difference of increasing sales.
Thank you to all those who attended the live Build Your Pipeline Masterclass.
Please click the Build Your Pipeline Masterclass Replay to watch it again and remind yourself of where those new leads and future customers are hiding.