Nov 27, 2018
What can you do when the prospect wants to negotiate price with you? In this video, I'll tell you how to respond and why it's important not to negotiate price.
When a prospect tells you they don't have enough budget to do the work, do not negotiate your price. If you set the precedent that your work can be discounted, they will treat you as such. And when the time comes that they can afford your higher rates they won't give you the work, they'll move on to another agency that charges higher rates. Your pricing and your (lack of) willingness to negotiate sets a perception of value.
Bottom line, this type of prospect is a bargain hunter. If you do come down on price, they'll second guess themselves and wonder if they could've gotten you to come down even farther on price.
A lot of agencies need to realize that you're not right for everyone and that it's OK to turn away prospects. The right prospects are able to pay you what you're worth right off the bat.
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JASON SWENK IS AN AGENCY ADVISOR THAT GUIDES MARKETING AGENCIES THROUGH A PROVEN FRAMEWORK FOR GROWING THEIR AGENCY FASTER & EASIER.
Fresh out of college Jason was off to work for Arthur Anderson,
one of the big 5 consulting firms. He quickly realized that he
could never work for anyone other than himself. He decided to
change direction, launch a digital agency that quickly grew to a
multi-million dollar operation working with brands such as
AT&T, Hitachi and Lotus Cars. After 12 years of steady growth,
the agency caught the attention of bigger agencies and Jason sold
it in 2012.
Now, Jason leads http://JasonSwenk.com, a unique media company & consultancy helping marketing agencies grow & scale their agencies faster by applying the framework that he used to grow, scale and eventually sell his agency. Jason has helped over 10,000 agencies in 23 countries meet or exceed their business goals.
Jason currently hosts two shows that are available for download…
The Smart Agency Master Class Podcast, dedicated to providing tactics and strategies to agency owners and decision makers that cut through the BS, focus on exactly what works and what doesn’t; and
SwenkToday a daily VLOG that documents the entrepreneur journey of building another multimillion-dollar business, where he shares the latest strategies, and answers the most burning questions entrepreneurs have.
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