By Ahmed al-Akber/Dubai

It’s an absolute shame that I see so many companies willing to offer a discount for their products or services the moment hear a prospect say that the price is too high. Prospects always have and always will say that – we must just be better prepared to answer that objection in order to protect our margins (and our pride).
Discounts are a form of short-term manipulation, a bartering game. The thought of offering a discount brings back thoughts of bartering in the souq for jewellery, cloth and spices. When selling business to business, you are offering high-value products and services which are not souq goods!
Therefore it’s critical to prepare to be prepared to handle that objection when it inevitably comes our way. Here’s how:
1) Find out what the prospect’s true motivation for working with you is. What is it that they really want, and why is it important to their business that they get it? It’s also important to ask how they stand to benefit personally from buying your product or service and getting the value that you’re offering.
2) Relentlessly practice handling the “it costs too much” objection. I can’t stress this point enough – it will always be given to you, so the better you handle it, the better off your closing rate will be. Practice this with a friend or spouse, or hire a sales coach to sharpen your approach to answering this objection.
3) What can you offer instead of giving a discount? Can you provide additional value without forgoing a portion of the price? Think of the extras you can offer as part of the deal that the client will be interested in, and remember to link it to their motivation for working with you.
4) Don’t be afraid to stand your ground, even if the prospect stamps his feet and cries. You are offering true value to him, and therefore should not shudder at his every whim. To practice this right, you must be prepared to lose the deal without offering the discount. This is a tough call to make, but over time, you will come to know that you will be in a much better position because of adopting this approach.
Never offer a discount on your services willingly. Implement the above every time you are preparing to close a deal and you will be in a much better position.

*Ahmed al-Akber is the managing director of ACK Solutions, a firm that helps companies to improve their marketing and sales results by offering more effective ways attracting customers and significantly better products and services. Ahmed has worked internationally in marketing, sales, and strategic planning at companies such as the Coca-Cola Company, Philip Morris International and Dell. Questions or comments can be sent to Ahmed on ahmed@acksolutions.com