Avoid pre-discounting

Pre-discounting is where you lower the price of your product/service before presenting it to the customer because you feel it won't be acceptable to them.

Of course this means lower prices, margins and profits based on an ASSUMPTION the customer will react adversely to your price proposal.

We know in most cases price is just one, and very rarely THE, buying criteria for people, so customers may not be worried about price. Indeed if we have done our job well in the value conversation then based on the value and outcomes we'll deliver for our customer, they will be willing and happy to pay our price.

So why reduce it before we have even spoken to them?

Don't - work out your value based prices, present these to the customers, then justify value and get the prices you deserve.