#3 - It immediately lets your customers know that your product isn't worth what you’re asking. The second you do that, you'll find people are like, "Oh yeah, you'll give me a discount? Cool, what else can I get from you?" Maybe we’ll just shop around for the best deal we can find and then we’ll come back and see if you can beat it?
Most of them will never come back but those that do will keep asking you for more and more and it'll never stop.
#4 - This technique will devalue your product or service. You're going to look cheap.
Devaluing your price, discounting it, is not going to get you there. What you're going to find is, if you're giving a discount, people are like, "Oh, wow, this isn't the awesome thing to buy." They’re just giving them away.
So now. Here’s the alternative when you can’t get someone to buy. Don’t just throw out, if I could save you enough money would you buy it.
Assuming that you followed the steps to the sale and you really don’t see any valid reason why someone shouldn’t buy your product, ask them this:
Mr. and Mrs. Customer, before you take off I’ve got a question for you that would really help me out. On a scale of 1 to 10. With a 1 meaning you hate this product and 10 meaning that you love it and really wish you were taking it home, how would you rate this?
Your customer is going to give you a rating between 1 and 10, but let’s say they give you a 7. Now ask them:
What would it take to make it a 10?
At this point, the majority of your customers will tell you exactly what it will take to sell this to them. If they say, “lower your price,” then go watch this video that handles, “your price is too high”:
But the cool thing about this closing technique is that you didn’t just come out and ask them, if I could lower my price would you buy it.
However, you do want your customers to be honest with you and I’ve always noticed that my customers who have said my price is too high when I’m selling at a dealership have told me this because it’s just a programmed response that we all have when we’re talking to a salesperson.