What it really means when the client says you are too expensive
Do you know why are they saying this?
Is it because:
- They genuinely can’t see what they are getting and so they say it’s too expensive?
- They really want it and they can’t find the money?
- They need your solution and are going with a competitor and this is a tidy way of getting rid of you?
- They want you to drop your price and this is a tactic?
Please recognise – it’s never about the money.
People do not buy on price, they buy on the value they are getting.
Here are some tips on how to adapt during pricing conversations.
- When they genuinely can’t see what they are getting so they say your offer is too expensive
- Have you worked out what they value?
- How did you explain the value proposition to the client?
- Was it polished, professional and at all times includes ‘what’s in it for them’?
- Was your presentation tailored to the client and made 100% relevant for them – not the standard deck presented to anyone and everyone? Don’t make them hunt for what is relevant to them.
2. They really want it and they can’t find the money. They are saying things like – I soooo want this, I’m not buying elsewhere, this is exactly what I won’t but I don’t have the budget
- Have you reframed so they see how they will save money? In time, recourses, easier to use, man hours, they look better… the list goes on.
3. They need your solution and are going with a competitor – a tidy way of getting rid of you.
- Did you ask enough relevant, astute questions to truly understand what is of value to them? It seems the competitor did a better job of aligning and explaining the value than you did.
4. They want you to drop your price – this is a tactic.
- Don’t go there, don’t apologise
- Repeat what they value and what this solution will do for them. Don’t’ ‘hold your ground’ in a face off
- Take them to ‘the outcome’ – anchor them in ‘when you have this solution A this is how life will be’ – take them there.
One of our outstanding graduates who knows the value of her products inside out.
Want to know more?
See our blog on The client says they don’t have the money.
Learn more about value, business growth and creating opportunities in our programs
We live and breathe conversations about:
- understanding and articulating value
- driving commercial growth to help our clients experience the results they want in sales, business, mindset
- enhancing performance and success for themselves and their teams.
To find out how we can help you:
- Call us on 02 9188 5253 or 03 9088 3382
- Drop us a line at firstname.lastname@example.org or
- Contact Charmaine directly at Charmaine@smarterselling.com.au
Author: Charmaine Keegan is the Director and Head Trainer of Smarter Selling, Australia’s premier sales training company focusing on enhanced performance, behavioural change, being aware of and in charge of your mindset. Empowering sales people so they are set up for success with advanced skills, the right attitude, accountability, confident and driven to get results.