Lowering prices for a customer can be tempting, but it can have negative consequences for your business. Lowering prices can lead to lower profits or even loss of money if the price is not appropriate for the cost of providing services. So, how to resist customer pressure to lower prices?

Emphasize the value of services

Customers often demand a price reduction because they do not see the value of the services you provide. Show them how your services contribute to their success, such as increasing productivity, improving safety, or enhancing quality.

Show them competitive prices

Show them that your price is comparable to the prices of competitors and that you offer more value than the competition.

Show them the costs

If the customer is still complaining about the price, offer alternatives such as cash payments, installment payments, or providing a specific service at a lower price.

Stick to your pricing guide

If the customer refuses to follow your pricing guide, do not give in to pressure to lower the price. Stick to your pricing guide and emphasize that the price is appropriate for the cost and quality of the services provided. It is important to stick to your prices and not give in to customer pressure as it can lead to loss of profit and long-term profitability issues.

It is also important to remember that each customer is different and can have different needs and requirements. Sometimes it may be appropriate to give in and lower the price for a specific customer, as long as it does not affect your profitability. It is important to balance the needs of the customer with your own needs and ensure that you remain profitable.

Sometimes it’s enough to just hit customer needs. And since the customer knows them best, it can also be done with the Bondly tool for automated pricing offers. The customer creates the offers himself, based on your template, prices and relationships of individual items. Learn more at www.bondly.sk

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