BRX Pro Tip: How to Respond to the Discount Question Transcript
Stone Payton: [00:00:02] And we are back with Business RadioX Pro Tips. Lee Kantor, Stone Payton here with you. Lee, it happens to me from time to time, I’m sure you’ve heard this question, what counsel, if any, do we have in terms of how to respond to the discount question? If someone asks for a discount, what’s the best way to handle that conversation?
Lee Kantor: [00:00:22] Well, one of the things we do when somebody asks for a discount is we give them a discount if they pay all upfront. So, by paying upfront, we will lower the price for the service, but they have to pay upfront. If they don’t want to pay upfront, then the monthly fee is the monthly fee. But if you are going to give a discount, it’s important that you have to take something of value away. You can’t just give a discount for the sake of giving a discount, because you lose kind of the pricing integrity. What do you think about that, Stone? What are some of the strategies you use when somebody asks for a discount?
Stone Payton: [00:00:55] Well, I try to keep it all, like you say, within frame or within scope. So, if I’m going to change the scope of the financial investment, then I’m going to revisit the ROI that we are trying to deliver. I think, within reason, we can probably design something for most budgets. And if not, you know, we’re too early or too late to be of any real service and we’ll try to help again when the timing is better.
Stone Payton: [00:01:18] But if they’re purely just asking for a lower price, which is what often happens when they use the word discount or they’re asking that question, their trend, often, their first swing at that is getting the same level of service or in our case, since we actually provide real green dollar ROI in so many cases, they’re asking for that same level of result for a lower financial investment. So, I mean, the short answer is no. The other answer is, well, let’s scale the investment to fit the outcome.