How do you manage someone saying they’ve been offered a better deal elsewhere?
Most consumers shop around for the best deals, so if you’ve got competitors, chances are your clients might find a cheaper offer out there.
If this is inevitable for you, you’ve got to be prepared to handle this conversation.
1
Talk It Through
When someone comes to you and says they’ve been given a better offer, don’t stress. Just talk about it.
If they’re telling you then one thing is for certain: they want you to know.
They haven’t decided to go with someone else yet, they want to continue the negotiation.
Find out for sure if you’re offering the very best deal compared to your competitor.
Is it actually better or just a trick for them to entice new business?
2
If All Things Were Equal
If your client is telling you about the discount chances are they still want to do business with you.
Ask them outright, if all things were equal would they still want to go with you?
If your price was the same as theirs or if the fees were the same, would they still want your service?
If they truly believed it was the best and only offer they wouldn’t be talking to you.
This is proof that all things are not equal and you still have a shot.
3
List The Positives
Find out what it is about your services they like. What appeals to them?
Ask them to tell you the things they like, the things that are important to them that you are offering.
It might be that they’ve used you before. They might like your reviews, perhaps someone they trust has recommended you.
You might just have all the things they’re looking for and asking them to list the likes gives you an advantage.
Your qualities will become clearer to this client, and it allows you to talk about your worth.
4
What’s The Best Worth?
Ask the question – isn’t having the very best worth paying a little extra for?
What if paying extra generates a better return? What if it simply provides a more pleasant experience?
This could be all you have to do to move forward with this person, and if it is that’s fantastic.
But your lead might genuinely not want to pay ‘extra’, and this is something that you need to establish as soon as possible.
5
Straight Talk
Be brave enough to ask straightforward questions about prices and what they’re prepared to pay.
You might have to accept the possibility that they simply want the cheaper thing and if that’s where they are, then you must decide if it’s workable.
If it is workable don’t cheapen your product.
6
Negotiate Your Terms
You can tell them that you see where they’re coming from and you’re prepared to lower your price, but explain that it still needs to feel fair for you too.
And this is when you work to bring something back.
Ask them if they’re prepared to explore a way that is fair for both parties.
Your prices are your prices and rarely do you deviate from them. However, you’re prepared to make them an exception, to give them a special gift.
Are they prepared to offer you something in return?
7
Promises
There are so many ways that a client can help your organization with minimal effort on their behalf.
They really won’t have to do all that much.
Is this client open to the idea of giving you a review or becoming a case study example on your website? Maybe they’d be happy to display a sign or badge with your company details on it. Ask them if they’d be happy having a proactive conversation with potential clients by sharing their experiences firsthand.
Perhaps agree that next time they need your services, they promise to come back to you.
Give them options and ask if it sounds fair.
It’s not something that can be expected, they’re not obligated to do it at all. But they might just be happy to do it for you.
If they agree then you’ve essentially acquired an ambassador.
You might make less on this deal, but you’ve bought yourself so much more. Good reviews, recommendations and future business.
The agreement can’t be viewed as binding, but usually, clients agree to this because of a moral obligation and because they like you.
You’ve shown that you’re prepared to move for them. You’re prepared to do extra work for no fee. They feel gratitude and want to offer something in return.
Talking someone up is easy. It doesn’t cost a penny and they’ve got a bargain.
There’s Always Competition
It never feels nice being asked to lower your prices, you’ve set your pricing structure according to what you offer and what you’re worth.
Sadly there’s always someone out there who will do it for less. Commissions are negotiable so you’ve got to be prepared to have this conversation.
There’s real magic to asking the question ‘if all things were equal, would you still want to do business with us?’
Clearly, all things aren’t equal. You’ve already established early on that you are what they want, they’re talking to you, aren’t they? If they didn’t want you, they wouldn’t be having this conversation.
So don’t fear being asked for a discount.
Just think about the potential opportunities that could unlock value for your business.
Reframe the ‘discount’. You’re not reducing your rate. You’re bartering for mutual satisfaction.
