Are you giving money away?

The other day I went to my local pool shop to get the pool water tested and buy the necessary chemicals to keep it looking sparkling and beautiful so the grandkids can splash the water and chemicals out again (having a pool consists of pouring money into it to keep it looking good).

I hadn’t been to that pool store for a year or so, because I’d been going elsewhere, but thought I should try it because it is nearest to my home and is thus more convenient. When they realised I was a returning customer they were extra nice and gave me great service. I was delighted!

But then they dumbfounded me! Without even asking for it they gave me a 10% discount just because I’d “come home”! On what I was spending it meant that they simply took $15 out of the cash drawer and gave it to me. Let me repeat, without me even asking for it. I didn’t want nor did I expect a discount so I was amazed that they gave it to me.

And if they had wanted to make me feel good they could have given me a product that has a high perceived value to me and a low wholesale cost them. For example, they could have given me a bag of salt that retails at around eight bucks and probably cost them about four. I would have been delighted and would have saved 8 dollars as well…and I would feel great coz I got it for free!

So, before you rush to give discounts, ask yourself does a customer, client or patient really expect or need it? If they don’t, as is often the case, don’t give a discount. But you can gift something that doesn’t cost you a lot but has a high perceived value to them.

People don’t value a discount as much as they value great service and being made to feel special.

 
“Cornerstones of Success” contains extracts specially selected from a fantastic longer program by Wayne Mansfield whom Winno has known and respected for his unique, practical and pithy insights on business for many years. In this sampling you will hear simple crucial solutions to some of those problems in selling that Winston believes cause many people to stumble in making the sale. They are really “must know” approaches that will help you nail the business. Get it here. Part of the Winno’s Wise Words series.