DON’T BOW TO PRES­SURE FROM MA­JOR CLIENTS

The Star (Kenya) - - News Business Financial Market -

When a cus­tomer knows that you

can’t af­ford to lose them, they’ll of­ten try ev­ery­thing in their power to wring out cost sav­ings. But don’t give into the pres­sure to give them a dis­count. Change the tenor of the con­ver­sa­tion by fo­cus­ing on the value you cre­ate for them.

Ask which fea­tures or ser­vices

they’d be will­ing to give up to get a lower price. Do­ing so will move the con­ver­sa­tion away from hag­gling and to­ward a pro­duc­tive dis­cus­sion about what they re­ally value. And don’t get rat­tled if your cus­tomer goes quiet, stops re­turn­ing phone calls, and ig­nores you.

Re­mem­ber, you are their pre­ferred

sup­plier for a rea­son, and there will likely be sub­stan­tial switch­ing costs if they want to change ven­dors. Si­lence is a pow­er­ful ne­go­ti­a­tion tac­tic; don’t let it push you into giv­ing a rev­enuede­stroy­ing dis­count.

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