You can’t cut your price and expect to achieve prosperity. Instead, offer more service to support a price point rather than suggesting a discount.

With the economy performing the way it is, there are far too many salespeople who believe the only solution is to cut their price. Cutting a price is something that should not be done without a tremendous amount of thought. I’m not going to go into all of the reasons why, as I’ve talked about this on a number of other occasions, and you can read my strategies on pricing by going to the “articles” section on my website. What I do want to emphasize is the need to make sure you’re talking about what is of value to the customer and not what you believe is of value. The customer will always pay more if they believe the value they’ll receive is worth it. The reason salespeople don’t exercise the premise of the value with the customer more is simply due to the fact they don’t spend enough talking to them and asking the right questions to determine what the customer truly values. Before you think about any type of a price cut, consider whether you’ve asked the customer enough questions to truly understand what their needs are.

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