Apr 01

What to say when they say, “The price is too high.”

Posted by Mandy Minor, marketing strategist and copywriter   For the first four years of my company’s existence I struggled with pricing.  We did the pricing exercises and knew what we needed to charge – prices that were in line with the market and truly a good value for the service and support we provide.  Even so, price was the most common objection, and this whittled away at my confidence.  I know objections are disguised desires to buy, but still – it gets old!

So I solved my price confidence issue in two steps.

Step 1: Gather ideas and tactics from sales pro friends and online resources.
I’m an avid networker and have established great relationships with two sales guys who know their stuff.  I got their advice and worked it into our existing pricing structure; turns out our pricing was spot-on.  Then I did the same from the plethora of awesome sales resource websites online, like Just Sell and RainToday.com.  Just Sell had some real gems for handling the price-is-too-high objection, like “That’s a valid issue. Several of our current customers had those same concerns at the beginning. Let me show you some examples of how those purchases paid off.”  Then it was on to step 2.

Step 2: Mind training.
I know, sounds weird.  But really all it was is this: I allowed myself to become comfortable with our prices.  I looked in the mirror – literally – and said – out loud – “We give our clients amazing service and expertise and are worth every penny of the reasonable prices we charge.”  I took my sales friends’ advice and learned to stop talking; when sales conversations got to the price I stated it and shut up.  This one tactic alone was a miracle worker, because it exudes confidence.  And finally, I stopped wasting time sweating sales that didn’t happen and began using that energy to focus on upcoming opportunities.  And today as I write this we have three quotes to write and more resume business than we’ve had in months.

Everything I did, you can do too.  Go get ‘em!