How to avoid panic-driven sales techniques.
Many B2B business owners believe that less expendable income naturally demands a lowering of prices. The reaction, when encountering reduced margins and fewer sales, is to offer discounts to buyers. Special offers and two-for-the-price-of-one deals become the go-to for the average business trying to shore up sales.
Are you a victim of sales panic?
What’s the real effect of panic-driven sales techniques such as discounting?
Buyers are willing to pay a premium for a known or trusted brand, because, among other things (such as after-sales service) they feel less exposed. By discounting to lower their risk, you effectively tamper with their perception of value. What happened to your brand, they wonder. Counter-intuitively, hefty discounts can make buyers wary. They question the quality and integrity of the products.
A premium perspective
Businesses that take the time to look at their products through the eyes of their buyers, are forced to consider where the perception of value lies. What experience is the buyer seeking, and how can your product deliver in a way that they are willing to pay a premium?
When your sales conversation delivers an Unrefusable Offer, there will be no need for panic.