You may have already had an experience where you purchased a product based on price alone.
Don’t worry, this is more common than you think.
This phenomenon occurs because when making a purchase the customer always tries to capture the maximum benefits possible .
In the market there are some advantages that can be offered to the customer, but none is as satisfying and efficient as the discount.
The discount is a final cost reduction that works directly in the customer’s pocket.
This benefit is able to awaken a sense of self-realization in the heat of the moment. But the seller must be aware , since the discount must be a bilateral benefit , that is, it must be satisfactory for the customer and seller.
It is common for the seller to make radical proposals – after all, he needs to sell – and the customer who always wants to obtain advantages, even closes the sale. But what looks like a fairy tale at the time could turn out to be a long-term loss.
The discount is only powerful when used at the right time.
DO NOT OFFER YOUR CUSTOMER DISCOUNT YET
When the discount is offered out of time to the customer, three relationships can be compromised:
- Value relationship.
- Relationship with the seller.
- Cost ratio.
# VALUE RELATIONSHIP
You see, the customer who is interested in your product or service and is resistant to the cost needs to be convinced of the value, that is, he needs to understand how it will impact his daily life and solve his pains.
One of the main mistakes that can make the discount an impotent benefit is the customer’s lack of opportunity when it comes to generating value perception about the product or service.
At the beginning we talked about how you probably already became interested in a product just because of its cost, usually in situations like these the real value of the product did not weigh in your choice decision.
As much as the cost is an interesting attraction, it is only one of several elements that build the vision of what value is and how the customer understands the product or service.
In the future when he needs a similar product or service or the same brand, this value gap will hinder his choice, consequently, you.
# RELATIONSHIP WITH THE SELLER
Another big problem in offering a discount when the customer is not ready is the broken relationship with the seller.
The salesperson needs to generate profit for the company, and in many scenarios he needs to hit a goal and when the goals are not met, despair begins . By not thinking long term, he tries to push sales down his throat at the first consumer he sees ahead and burns his image . If the sale is made prematurely , in addition to the lack of vision about the product or service, the customer will still be left behind with whoever attended.
The moment of purchase is not only used to generate profit, it can be used when making customer loyalty , and this only happens through the seller, he is the mediator of this relationship.
So the customer who made a purchase prematurely will not return to trust that seller, since the pleasure of making a purchase where the discount is large passes and the guilt takes its place.
# COST RELATIONSHIP
However, the worst case scenario is when the cost ratio changes.
Buying at a cost below the market rate is sensational, and when we discover places where prices are lower, our first impulse is to return to the place for our next purchase.
But it turns out that the discount applied at the inappropriate time gives the image that the company or brand is adept at the practice and performs in all purchases .
Soon the customer who comes back to the place may even understand the real value of the product and the brand, but he has the distorted idea that if he cries a little he will obtain greater benefits.
The cost ratio is totally changed and if there is a refusal on your part to make a discount to the customer, you run serious risks that he will never do business again.
WHEN THE CUSTOMER RECEIVES THE BENEFIT AT THE RIGHT TIME
The discount is a benefit that must be offered when the customer understands the value of your product, wants to continue with the purchase, but needs a little push.
So the discount is ideal for when the negotiation is in its final stage.
The entire negotiation must be worked out carefully in case it is necessary to activate the discount tool. If, in the future, the client considers doing new business, the benefit granted will not be the only argument.
The customer who receives the benefit at the ideal time does not look at it as an advantage that he obtained over the company, but as a facility made available to him in a short period of time.
It is important to note that the ideal way to propose the discount is to use the emergency trigger , that is, tell the customer that this is a unique opportunity and if he does not get on the boat he will be without.
Do not forget that the more worked the customer value issue, the lower the discount and the greater the benefits of the company.
The benefits that the company receives are not limited to the financial aspect , customer loyalty yields positive results and an important free advertisement for the company.
So the ideal time to apply a discount is when both sides win.
THE CRM THAT SHOWS YOU THE IDEAL TIME TO OFFER A CUSTOMER BENEFIT
Although consumer behavior is important when offering a discount, there are some tools that provide statistical data on the right moment.
The Moskit CRM platform has internal tools capable of presenting updated data about its customers, thus collaborating for a deeper analysis.
Understanding statistically when the customer is ready makes it easier to finalize the negotiation.