Sometimes you may be able to negotiate a discount and at other times you may need to stay strong, say no and walk away. The key is knowing when and how to manage your prices and maintaining your client good will.
When working with nonprofit organizations they may be seeking a discount due to their limited budget. This can be really tough when you need to find a way to make money, but you also want to help out a good cause.
See if there are any opportunities for you to write off your services for a tax break. You could also charge them your full fee for planning an event, but find ways to get the discounts with other vendors and suppliers so it pays for itself.
Booking Less Desirable Dates and Times
When a client comes to you to book during a downtime in the schedule or on an unconventional day they may be expecting a discount. For example, if your business focuses on wedding planning a client booking on a Friday or Sunday will probably expect that their fees would be lower than a peak Saturday.
When someone returns to utilize your services after working with you before, they may ask for a discount for their customer loyalty. You may want to decide in advance how you plan to reward customers for their repeat custom.
Setting up a referral program can pay big dividends for your business. When a client refers someone else to your services you should find a way to reward them. This might be a discount on future services or perhaps a discount for the customer they referred.
Providing Promotional Opportunities
Sometimes a client may want you to plan an event at a discount if they promise to provide you with good exposure to other potential clients. In certain situations this can really pay off and be a worthwhile compromise.
Signing On for Multiple Events
If a client comes to you with multiple events that need planning they will often be looking for some sort of package deal discount. This should be strongly considered as it is leading to multiple opportunities for your company to make money. Often times if someone is hiring you for a variety of jobs, they will continue to hire you for future projects if you do a great job for them.
Whether a client comes to you for a new project or return business it can be a very exciting process. However, it normally comes along with its fair share of negotiations. Keep in mind that discounts can bring some really wonderful benefits for your company and your clients, but they should only be awarded when they make sense.