10 Ways to Sweeten the Deal for Customers and Win the Sale

Are you not getting enough sugar these days from your customers and prospects? No problem! We’ve got some simple ways any business owner can transform a challenging customer negotiation into a lovefest. Here are ideas for sweetening the deal in ways that will melt the heart of even the toughest buyer:

Sweetener 1: Volume Discounts

Turn a price objection into an incentive to buy more! Volume discounts can take the form of more products (for sellers of products) or more hours (for sellers of services). The key is to make the incentive strong enough to get the buyer’s heart pumping. A buyer may not think that saving 0.5 percent is worth doubling up on an order, whereas to save 5 percent, the buyer wouldn’t think twice.

Sweetener 2: Annual Rebates

Reward customers for doing business with you long term. Rather than merely dropping your price, give customers money back at the end of the year based on their total purchases. A sliding scale from, say, 1 percent to 5 percent, based on total annual volume, grabs the attention of the buyer. It also sets you apart from competitors.

Sweetener 3: Cash Discounts

Turn a slow-pay nightmare into a cash-flow dream. You’re better off giving a 60- or 90-day payer a 3 percent cash discount rather than waiting for late payments on open terms. This technique also works for prompt payers; in fact, they may be more inclined to go for it because they probably have the cash flow to handle it with ease.

Sweetener 4: Freebies

Something as simple as a T-shirt or baseball cap can tip the scales on even the largest of the large orders. People love getting something for nothing and the emotional impact of a gift -- say, giving a diehard Chicago Cubs fan a Cubs logo mug -- may far outweigh its monetary value.

Sweetener 5: Waiving Fees

Just as buyers are delighted by small gifts, they are infuriated by small upcharges. If a bank were bold enough to waive its annoying ATM fees, it would earn an ocean of customers for life. You can improve retention by eliminating small order charges, processing fees, and the like.

Sweetener 6: Free Shipping

I love Amazon Prime. For a reasonable annual fee of $79, I get free shipping on most orders, with no minimum. As a result, I buy everything I can from Amazon. What a great business model! Why not adapt it to your business and have customers fall in love with you?

Sweetener 7: Discounted Shipping

Maybe you want to be a bear, but can’t afford to be a grizzly. No problem: Offer customers 25 percent or 50 percent off on shipping. That’s still a big win for customers and gives them strong motivation to come back for more.

Sweetener 8: Waiving Minimums

Buyers hate minimum orders because they are an inconvenience. Eliminating minimums on every order for every customer may not be practical, but it’s eminently practical for high-value customers. You certainly don’t want them ferreting out a new supplier because you won’t take their order for one emergency widget.

Sweetener 9: Bargain Basement Buys

Buyers love, love, love it when you come to them with exceptional deals. It might be an overstock, a closeout item, or damaged goods – just presenting a buyer with the possibility of saving 50 percent or 75 percent or 90 percent will make you his favorite. Plus, it’s a lovely way to clean up your warehouse.

Sweetener 10: Loyalty Programs

Why not take all nine of these deal sweeteners and roll them up into a formal, eye-popping loyalty program? By giving access to these benefits to customers that reach or maintain a certain level of purchases, you’ve created an ultra-strong incentive for small customers to become big ones, and for big customers to stay in love with you. For firms interested in even additional customer loyalty-building ideas, here are 22 more!