It’s the end of the year, which means buyers are rushing to use up all their budget. This is great for salespeople because they’re motivated and more willing to negotiate. Let’s know more about how to be smart in using year end discount.
But as we looked deeper, it’s clear that there are two sides to the coin. For example, in reference to Apple not really discounting their technology on Cyber Monday but instead offering you a $200 gift card when buying one full-price item – this is an attractive incentive and provides more than just year end discount.
There’s nothing more disappointing than ordering a graduation necklace for your niece and it not being what you expected.
B2B companies that offer 50% off necklaces are desperate, because their product isn’t up to snuff or they want you to focus on the low price rather than ask too many questions about the details.
Year end discount is also a good way to save money, and you should take advantage of them while they last.
So, how do you know which is best for your business? What’s a year-end buyer to do? How are the industry’s most savvy buyers handling their end of the year spending this holiday season. We wanted our community members to help figure out how they were going to spend their budgets and we hope it helps set them up for success in next year.
When it comes to year end discount and budgeting, most companies are looking for ways to save money. For example, Peter Kazanjy from Atrium HQ says they will spend more on commodities but not with solutions that offer less value than their competitors.
One way to ensure your technology is up-to-date and in good condition, according to Chad Dyar of OnDeck, is by saving money on new tech so you can use it for upgrades, plus your year end discount.
Prices are always a good thing, right? We wanted to know how our community felt about this.
“I’ve never felt so helpless in my life”
Deb Day, CEO of 3 Leaps, shares a harsh budget lesson that she learned. “It happened in 2009 with my very first e-commerce startup and I was waiting for Black Friday discounts on web hosting packages,” said Deb. “I found one that offered 90% off the package plus free domain registration.”
After a little while, everything seemed to be going well. Day said that she got an okay domain for her startup and the hosting was working alright-ish. But then things started unraveling soon after when she installed WordPress on it along with some apps to sell products and make design changes in order to customize the website.
When you’re shopping on Black Friday, it can be tempting to buy something that is not worth the price. At Sales Hacker we have fallen for a lot of these types of deals and they are always disappointing.
“Delivery rate drop-off disaster”
Erica Stritch, VP of Marketing at RAIN Group, had this to say about making the switch: “A few years back we were reevaluating our listbusiness information provider. We’d been happy with them but they increased prices and got more aggressive in their sales tactics. So while competitors may have offered similar features for a higher price point or lower quality; one company gave us an offer that was half what our current provider charged. This competitor seemed like it met all of our needs so we switched.
I was really disappointed when I realized that one of our most used features with the old provider did not work on the new one. We had to do a lot more manual data entry, which took much longer than before.
Within 3 months, we went back to our previous provider that was twice as expensive but gave us the features and data accuracy we desired.
If you see Erica, buy her a drink. Secondly, false feature parity is very common in the market right now so beware of what your vendors are claiming to have for features.
“Beware the bait and switch discount software sales”
Year end discount can be dangerous if they are too high or even worse, bait and switch. The best way to avoid this is to buy from established vendors with good reviews.
Collin is right: it’s a fine line between future-selling and overpromising. Don’t get too excited as salespeople, or you will create the wrong impression with your customers.
“Choose expensive and effective”
G2 Crowd VP of Revenue Operations, Brad Rosen told us that when it comes to purchasing b2b sales software the most important factors are quality and ROI. He also said price is considered during purchase but he can afford the best tools for his company.
As an example, Rosen says that he would rather buy a more expensive tool with better results than one of lesser quality for the same price. The lost productivity from using a less-effective product will hurt him more in the long run.
As Rosen said, he has to think about the bottom line. He looks for tools that will help productivity and profits.
With G2 Crowd’s expertise in the best sales software, it is safe to say that they know what they are talking about. Brad makes a good point- while tempting when your CFO asks for the cheapest option because you think this will give you more of an opportunity to get budget approval, if he doesn’t approve it and comes back later asking how much ROI there was on whatever decision was made then all those savings mean nothing.
These are our tips for using year end discount and saving money! We hope that you enjoy them and have a little more clarity about your end-of-year spending. Get value, save money, and don’t buy something just because it has been advertised on social media or by celebrities.
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