5 Discounts Consultants Can Offer to Win Clients

Offering discounts for consulting clients isn’t as simple as it may appear. 

While slashing your prices may initially seem like a great strategy to bring in new clients, it's crucial not to sell yourself short.

Offering discounts is like walking on a tightrope—you have to balance attracting clients with valuing your expertise, time, and commitment. Today, we’ll discuss a strategic approach to help you do just that!

Keep reading to explore 5 smart tactics for discounting your services without devaluing them, ensuring that every deal remains a win-win for both you and your clients.

Should you offer discounts for consulting clients?

As we already mentioned, you shouldn’t take offering discounts lightly. Consider the following pros and cons and learn how to strike the perfect balance between the two.

Pros ✅

• Attract new clients: Discounts can be a powerful incentive for clients to choose your services over competitors! If the barrier to entry for using your services is low, more people are likely to take part. This strategy is vital in the initial stages of growing your business, while you’re still building your portfolio and reputation, and securing clients to pay the bills. 

• Build relationships: Offering discounts can foster goodwill and strengthen relationships with existing clients, potentially leading to long-term partnerships.

• Flexibility: Discounts give you the power to be flexible with pricing, making it easier to tailor your services to fit different budgets and needs, expanding your base of potential clients. 

Cons 🚫

• Lower perceived value: It's time to get a little ✨psychological ✨. Let’s say you see two hand lotions, one costing $10 and one $20. Most people assume the one that costs $20 is higher quality. The same thinking can be applied to hiring a consultant or coach—the discount might make people wonder if your services are less valuable.
• Reduced profit: This con is pretty self-explanatory—discounts can eat into your profits faster than you realize.
• Client expectations: Clients may come to expect discounts as the norm, making it challenging to maintain standard pricing in the future.

• Attract the wrong clients: In some scenarios, you’d likely attract more price-sensitive clients who emphasize the dollar over the services. So, as your business evolves and grows, you may get stuck with a client base that’s more likely to churn than grow with you.

How to strike the perfect balance ⚖️

• Know your worth: Take a good look at what you're bringing to the table and make sure you're not short-changing yourself. We always recommend market research to see what kind of promos other consultants in your niche offer. 

• Target your discounts: Offer discounts strategically, such as for new clients or as a reward for referrals, rather than across the board. Make sure each discount brings value. For example, that could be a new client, up-front payment, or an extended commitment. 

• Be crystal clear: Ensure your clients understand exactly how your discounts work to offset expectations. If you’re offering a new client discount, but only for their first coaching session, make that explicitly clear to avoid misunderstandings later. 

• Do the math: Sit down and note how big of a discount you can offer and how frequently you can do so while still maintaining your bottom line. You don’t want to be so stressed about money that you begin to resent the clients who work with you for a discounted rate. You also want to set a rate that doesn’t make you resent working with your discounted clients because you “should be making more.”

• Monitor and adjust: Keep an eye on how your discounting strategies are working and be ready to tweak them if things get out of balance. It’ll be key to evaluate which strategies bring you the type of high-quality, long-term clients you want to work with.

How do consultants generate leads?

Before you can get around to the discounting, you must first attract leads to engage with your offers. Below, you’ll find several ways to captivate leads and set the stage for your promo strategies.

Marketing 📣

While marketing may immediately bring to mind slick ads and fancy campaigns, you can start much smaller without needing to invest any money. At its core, marketing is all about sharing your story and connecting with people who resonate with your message. Whether posting on social media, sharing tips on your blog, starting an email newsletter, speaking at local events, or creating helpful content that solves people's problems, spreading the word and your expertise can attract clients who believe in what you do.

Giving a sneak peek 🫣

Another great way to generate more sales leads is by providing a sample of your work. Offering free consultations or valuable resources lets potential clients get a taste of what you have to offer without any commitment. Whether it's a quick chat over the phone or a downloadable guide packed with helpful advice, giving a sneak peek can build trust and show potential clients that you're the real deal. Plus, you can leverage the free downloadable to collect email addresses for your marketing list!

Referrals from clients 🔄

Ever had a friend rave about a great experience they had with a business and then been tempted to check it out? That's the power of referrals! Encouraging referrals from satisfied clients by offering rewards or incentives can turn happy customers into enthusiastic advocates. Whether it's a discount on their next service or a freebie for each successful referral, sharing the love can turn your clients into lead-generating machines.

Partnerships 🤝

Collaborating with other businesses or professionals can open doors to new opportunities and introduce you to new audiences. Whether co-hosting an event, partnering on a project, or simply cross-promoting each other's services, teaming up can expand your reach and bring in new clients. 

Packages 📦

Packaging your coaching services in a clear and attractive way can make it easier for potential clients to understand what you offer and how it can help them. This could include offering different tiers of service with varying levels of features and pricing, bundling services together into packages for a discounted rate, or creating specialized packages for specific industries or niches. By packaging your services in a way that resonates with your target audience and addresses their needs, you can make it easier for them to see the value you offer and decide to work with you.

Consider these 5 discounts for consulting clients

1. New client discounts 

These are discounts you offer to clients who are new to your services as an incentive to try them. The discount can be a percentage off their first project or service or a fixed amount. 

When should I use them? 

Use these promos when you're trying to attract new clients and get them in the door. It's a great way to entice leads who may hesitate to commit to your services for the first time.

One Reddit user advises caution with new client discounts: “The first rate you charge a client becomes very sticky going forwards. When you’re new to the industry and need credits/work for your reel, making discounts to win work is a good strategy. Once you’re past that threshold, it’s not worth giving an introductory discount.”

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2. Upfront payment discounts

These are promos for consulting clients who pay the entire amount upfront rather than in instalments. This works well for extended-time offerings, such as packages, programs, or clubs.

When should I use them? 

Use this discount when you want to encourage clients to pay upfront and improve your cash flow. It's also a way to reward clients who are willing to commit to your services long-term. This business model mirrors that commonly seen in many SaaS products, where opting for an annual plan over a monthly one is encouraged.

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3. Package discounts

These discounts are offered when clients purchase a bundle of services or a package deal instead of individual services such as one-off sessions or hourly rates. 

When should I use them? 

If you want to earn a steady income while offering your customers great value, it’s time to package your services. This will give your clients a concrete plan and strategy. Essentially, you offer a lower price in exchange for your client's commitment to a longer-term working relationship. 

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Psst…if you click on Emily’s “Let’s chat” button in the section just below this one, you’ll be taken to a YouCanBookMe booking page! 

4. Referral discounts

These are discounts given to individuals who do some of the work for you by referring new clients. Cue the viral “It’s like a reward” sound in your head.

When should I use them? 

Use this to reward clients who refer new business by offering a discount on their next project or a set amount off. It's perfect for consultants focused on building strong client relationships and leveraging word-of-mouth marketing.

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5. Partnership discounts

These are promos for consulting clients that come through a partnership or collaboration with an individual or a business. This is a great way to offload the marketing. 

When should I use them? 

Offer these when clients come through partnerships, giving a percentage off their first project or a set amount discount. It's ideal for consultants with established collaborations seeking to benefit from referral networks and expand their client base mutually.

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Make your discounts count

With the right strategy, discounts can be a helpful tool for consultants to attract and retain new clients. By offering promos such as new client welcome offers, upfront payment incentives, package deals, referral rewards, and partnership discounts, consultants can incentivize new business while strengthening relationships with existing clients.

As long as you balance offering discounts with maintaining a sustainable business, these promos will be the cherry on top of your thriving consulting business!

FAQ about discounts for consulting clients

Who should you give discounts to?

Who you give discounts to depends on the services you offer, where you are in your business journey, and your goals. If you’re just starting out and trying to build a steady client base, try offering discounts to new clients. If you’re in the process of scaling your business, we recommend building packages that reward long-term commitment with a lower price than you would typically charge per hour. If you have a solid customer base with a large network, try instituting a referral program where you give a discount to customers who bring in new clients.

What value do consultants bring to clients?

Consultants bring many valuable benefits to their clients, including specialized expertise, fresh perspectives, and tailored solutions to address specific challenges or goals. They can provide guidance, insights, and support to help clients navigate complex issues, make informed decisions, and achieve their objectives more efficiently and effectively. Additionally, consultants often offer an outside perspective, objectivity, and accountability, which can be invaluable assets to clients seeking to improve their performance, streamline processes, or overcome obstacles.