680 words | 3 minute read
What’s the best solution when a client says your price is too high? Do you offer a discount? Explain your value? This might surprise you, but when a potential client is resistant to close a deal, it’s almost never about the money. There is usually another reason.
Table of Contents
- Ask The Right Questions
- Don’t be Needy
- Focus on the Value
If they feel the price is too high, they will resist. But if you are able to get them to think about the value being provided, however, the price won’t seem as much of an issue.
It’s important to learn how to handle resistance on your prices, because you want to avoid offering discounts. Here is how you can keep your prices firm, and close high-ticket sales even when the client is hesitant about the price.
Watch this video about what to say when the client says, “Your price is too high.”
Ask The Right Questions
Ask your potential client key questions such as, “Is it a question of price, or a question of value? Are you looking for a low price, or are you looking for results?”
Chances are, they’re looking for results, and those results matter more than the price. You can also ask them, “If there are cheaper options out there, why did you come to me? Why are you on the phone with me?” There must be a reason.
Pose this question as well: “Why do you think so many people are willing to pay me this much for my service?”
When I ask a potential client, “Why do you think people are willing to pay me $50,000 for my consulting services?” The client has to think about why I’m so good at what I do. It helps them realize that I must be great at what I do if people are willing to pay this much.
Don’t be Needy
You don’t want to sound needy or desperate when your client tells you that your price is too high. Giving that impression will only cheapen the value of your business. This means that you should never offer a discount, avoid talking too much, and remain calm. Often if you talk too much, you start to justify your value.
It’s best if you say something like, “If you’re not comfortable, that’s perfectly fine. I have a very busy schedule, so it’s perfectly fine for you to say no today.”
You can lay out the terms, explain that you’re confident that your service will benefit them, and if they don’t want it, that’s fine.
Focus on the Value
Remind the potential client that the price doesn’t matter, it’s the value that matters. Remind them that if your services can significantly increase their revenue, then the price of the service itself doesn’t matter.
The client will think about what this value is worth to them. The moment they think about the value, it’ll seem less expensive. One way to find out what they value is to discover their pain points. What motivated them to get on the phone with you in the first place?
If you have the solution to their pain, they are much more likely to do business with you and you will be able to handle any objection from your client.
When a potential client says your price is too high, it is easy to focus on the money. You could justify your price or offer a discount, but you would be avoiding the real issue. Usually if the client doesn’t want to buy, it’s not about the money.
You need to ask the right questions to find out what the client really wants. What results are they looking for? Focus on the value that you provide and don’t be needy. Always think in abundance – if they don’t want to do business with you today, there are other potential clients that do.
Are you looking to double your close rates for sales? Click on this link to book a call with one of my closers to find out how you can increase your close rates.