Dealing with a customer demanding an excessive discount, how do you navigate the situation effectively?
When a customer demands an excessive discount, it's crucial to handle the situation diplomatically yet firmly. Here's how you can effectively navigate this scenario:
What strategies do you use when faced with such requests?
Dealing with a customer demanding an excessive discount, how do you navigate the situation effectively?
When a customer demands an excessive discount, it's crucial to handle the situation diplomatically yet firmly. Here's how you can effectively navigate this scenario:
What strategies do you use when faced with such requests?
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Start by understanding the customer’s needs and concerns. Emphasize the value and benefits of your product rather than focusing solely on price. If possible, offer alternatives like bundled deals or added perks instead of steep discounts. Stay polite but firm to maintain profitability and professionalism. Need more guidance? I’m just a text away!
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One thing I found helpful: Acknowledge their needs and offer a small discount and see if that will suffice their wants. Also set a price point for your services and allow the customer to understand the value of your business and set the boundaries of expectations between you and the client. Leave open ended equations to allow them to feel as though their needs are being heard and counter with what you can offer and once again emphasize the importance of your services and how it can benefit them.
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I actively listen to the client to identify why they would like a discount. If I identify it as a financial situation, I will address it by showing them ways to finance the purchase and helping them understand the promo terms. If they just want a discount, I offer them a similar product that may fit their needs/budget. If it is available, I will offer them our rewards program and explain the perks of this purchase. A small discount can be made but has to be justified, such as with a promo coupon code, etc. Hey, client, our previous special is already over, but I think I have a coupon code from our online special, which saves you some money. Stay firm, and in the worst case, politely let them know these are the only options available.
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There are many factors to be taken into account in this process - Are your Prices inline with Standard pricing across retail if no then you have to match the price inline - Are the offerings with the product unique at your end if no then workout an instant plan on the offering so you not lose - Keep Alternate Offerings with bundling or discount without bundling or loyalty card offerings ready incase of such situation arises and play it out smartly during the deal to close on a win win situation Ensure to Eke out Value through cross selling another item with better margin so you don't lose out on profit
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