Everything is negotiable

The other day I was heading to the airport to catch a flight. Although normally I take a taxi, I decided to save some money and park my car at the airport.  I usually park at one of the airport lots for about $12.00 per day but after getting stuck in traffic and worrying about missing my flight I decided to park in one of the airport-adjacent hotels that offers valet parking.

I pulled into the lot of the hotel I would normally park at and a uniformed attendant greeted me with a smile. I asked him what was the valet parking fee and he said $28.00 per day. I grinned and knew my money savings strategy was shot.

I looked at him and said “wow, that’s kind of high isn’t it?”. He replied “hold on, I’ll be right back” and quickly disappeared behind the valet booth in search of something.

A few minutes later he returned and handed me a discount coupon that brought the parking down to $12.00 per day. “We know times are tough so hopefully this will help”.  Without even asking for a discount, I got one.

It made me think that everything these days is negotiable. Even valet parking. Our struggling economy is creating new rules for selling. And I’m liking it. You see, I was born and raised in Israel, part of the Middle East, where negotiating is part of everyday life there. In fact, some vendors would get insulted if you don’t negotiate. It’s part of how we buy and sell.

So how does that relate to your business? You can expect your clients to negotiate with you now more than ever. Be prepared for that. And be open to the experience. Go into the selling process with “negotiation in mind”. Even if your fees have been the same for years, your clients may now expect some kind of a deal or discount because of our “struggling economy”.  So rather than lowering your fees (which you don’t want to do because that send a message that you are desperate) you can offer your clients incentives, something extra if they buy from you.  Throw in something extra.  Help your clients feel like they are getting a good deal.

Comments

[Eric Koby]

I am curious to know what type of incentives people are using to help make their clients feel as though they are getting a good deal. I have found that being flexible with my payment schedule has been appreciated by my clients.