Episode 29: Should you lower your prices in a recession?

Have you been thinking about lowering your prices due to the recession? Perhaps you’re hearing from stakeholders that there isn’t any budget? So you’re thinking about discounting your rates and service charges in the hope that it’ll help you to win more business?

As we navigate the current recessive period, the common objections that are being faced by external suppliers are going to continue to revolve around price – and how companies can get even better deals for their organisations.

But is it really necessary to discount simply because it’s a recession? Or are there other (more important) factors to consider? 

In this episode, I’m going to be diving into what the recession really means for your pricing so that you can make key decisions about your profit margins and prices as we head through Q4 and into 2021.

I’ll be sharing:

  • The objections you might be coming up against in your business development calls – and whether you really need to worry about them [10:33]
  • Why pricing is an awkward topic to discuss (and how money conversations can cause problems for us and our stakeholders) [11:26]
  • The simple reason that stakeholders assume that recessions mean they’ll get a ‘better deal’ from external suppliers, contractors and consultants. [13:38]
  • Core objection handling techniques to help you manage pricing and budget objections from key stakeholders and decision makers. [15:19]
  • The number one sales strategy that will help you get more proposals over the line and close more corporate deals. [22:16]
  • Simple events that can impact/ support changes to your pricing structure and strategies for corporate deals. [24:56]
  • Whether or not discounting should ever be part of your strategy (and how to formulate it so that you’re not diminishing the value of what you have to offer!) [27:27]
  • When it’s okay (and preferable!) to say no to stakeholders who want pricing changes or discounts [28:54]
  • How you can emulate the successes of our premium priced, C Suite sellers! [32:22]

I also shared insights and trends about the upcoming quarter and how you can navigate the current landscape in the best way for your business.

Podcast Reviews

Huge thanks also goes to Jen Hall of http://www.marketleaderleague.com  and Adele Stickland from http://www.get-gorgeous.com for their fab five star podcast reviews! It’s hugely appreciated and makes it easier to spread the word about Selling to Corporate and what it really takes to get the corporate sales lifecycle started.

Selling to Corporate Podcast episodes for your next listen

Episode 18: How to price your services like a pro

Episode 14: How to stop coronavirus killing your corporate revenue stream

Resources In This Episode

Join The C Suite now! If you’re looking to get the best support in selling your services to corporate organisations, not to mention hundreds of email templates, swipe files and proposal outlines so that you really can convert at much higher rates and sell your services more successfully, then click here to join now.

Book an exploratory chat with me! I’m offering the final exploratory sessions with me so that you can ask any questions you have about The C Suite and how it can benefit your business. These opportunities are incredibly limited – so if you’d like my eyes on your business and a totally transparent conversation about how The C Suite could support your goals, book it here now.

Top 5 Business Development Questions: If you’re looking to convert more business development calls into sales? You need to be asking the right questions and getting the best information to support future work. Download my Top 5 BDQs here and start getting quality information from your prospects.

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Content Disclaimer

The information contained above is provided for information purposes only. The contents of this article, video or audio are not intended to amount to advice and you should not rely on any of the contents of this article, video or audio. Professional advice should be obtained before taking or refraining from taking any action as a result of the contents of this article, video or audio. Jessica Lorimer disclaims all liability and responsibility arising from any reliance placed on any of the contents of this article, video or audio.

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