![]() ![]() That is something to consider.Ġ4 | If you discount your products, will you also discount your scope of work related to ordering and product management? I do find that this does instill trust in the client if you let them know you do this. If it's something you cannot get for less than retail (maybe because One Kings Lane, Serena, or Perigold have more buying power and therefore lower pricing and their own freight lines) then you can always let your client know that you will provide them the purchasing information if you can't beat retail pricing (if this is something you would do, however, please know, many of our designers don’t do this). This sounds like a logistical nightmare and then what happens if you “split the discount” and then the client (who now thinks this is some sort of competitive price hunting bargain game) finds a retailer who offers it for less than the retailer you found to establish the “split”…are you reducing more? Are you crediting them back? See how this opens up a ton of backend admin work?ĭo you have time to be checking that on every single product? I know my million dollar design firms don’t. MSRP and your price? MAP and your price? RETAIL and your price? I personally do not recommend SPLITTING the “discount” with clients or giving a XX% discount. Think about how you want to price your products.įor most of our designers, we help them communicate that their products are priced to be competitive with retail and that their price includes their company handling the order placement, tracking, issues, delivery coordination, and continued updates. People are going to ask, and they’re not the bad guy for doing it. 03 | You need to know how you actually DO price your products. That’s a real savings to your client especially if you bill hourly for sourcing. You might even pay for books and samples.įor your business to have access to these accounts, there is a time and monetary investment. Not to mention, having and using the same vendors means you have a better relationship, better pricing, better customer service, and quicker sourcing because you are familiar with the line, the fabrics, the team, etc. You’ve placed orders to maintain your annual spending requirements. You’ve invested money in placing opening qualifying orders (and maybe carried inventory AND kept is safe in the hopes to sell it to an upcoming client). You’ve invested time researching vendors, going to market, meeting with vendors in your office, shopping for new release items/fabrics, and so on. There is a cost for you to have this account. This is the professional trade-only pricing that you applied for, qualified for, and maintain because you are a business and have met (and continue to meet) certain requirements. So this doesn’t make them a red flag client, this just means they need clarity into your process and your business model.Ġ2 | It costs you and your business time (which is a higher value than money) to have these accounts. 01 | First let’s assess, WHY are your prospective clients and clients asking this question?Īre you marketing yourself as a discount designer? Are you only showing images of you shopping at retail or discount stores? Is your body of work or marketing attracting clients who can’t afford trade items OR people who simply do not want to pay for them? If you’re like NO NO NO then I want you to know your client is likely asking this because they’ve heard other people do this, NOT because they expect you to do it. This one gets me pretty heated (it’s NOT a discount, it’s your trade pricing) and in this post, I’m going to share a few ways to respond PLUS my thoughts on why you should never ever (or, “never sever” as my daughter says) share your “discount” with clients. You’re on a discovery call with a potential client and they ask the dreaded question that makes your skin crawl. This week’s Dear Dakota question is one I know you have dealt with before. Designer submitted Question “Will you share your discount?” ![]()
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