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Let’s Make a Deal

April 11, 2013

deal-or-no-deal1

Priding myself on taking advice from women entrepreneurs I trust and implementing it in my business, I decided to pitch the idea of my favorite car brand to give me a discount on a car I’m interested in buying in exchange for a year of major marketing through my company’s media channels.

The question took the saleswoman back for a moment. I’m not sure if anyone else has ever approached her trying to work on pricing that way before. But I have always believed, “If you don’t try, you can’t fail.” With the inspiration from a woman who gets most of her favorite brand items sponsored, I figured I had nothing to lose and a lot to gain.

As I await their response, I wanted to share how I prepared for the “ask” so it can help other entrepreneurs who are brand loyal the next time they are purchasing a product or service from their favorite vendor.

* Make a list of brands you love and use all the time. Then make a list of the money you spend annually on these brand items. Be prepared to discuss the amount of money you spend, how often you make purchases and why you love the brand before you pitch a discount or free item to them. Be prepared for the discussion.

* Create a list of the reasons why a company should partner with you on a sponsorship request. Highlight your mission, customer demographics, corporate reach, and strength of customer loyalty. Share the list with the company you’re pitching and open up the conversation to answer their questions.

* Consider giving more than you’ll receive if the item you are asking for is very valuable to you and especially if there isn’t a major cost associated with what you are giving back. Be generous. Be creative. Be prepared to compromise to make the deal occur.

The money you save might be well worth the effort it takes to secure the deal. Keep posted and I’ll let you know what happens with my “deal.”

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