Do you feel like you’re losing potential clients because your services are priced too high?  This is a common fear among service professionals.  And when you really need clients you may be tempted to cut your prices just to bring them in the business.

Don’t do that.  Doing so conveys two things about you and your service that are bad for business.  First, it indicates that you think your services are over priced.  Second, it attracts the price shoppers and you don’t want to build a business around price shoppers.

Why do you want to avoid price shoppers?  Because price shoppers keep your from receiving adequate compensation for your services.  More importantly price shoppers tend to be the highest maintenance least loyal clients you can ever have.

Even though the prospect wants you to think they’re saying no because of price the truth is, it’s never about price.  But in order for you to overcome this objection you have to convince yourself your service is worth the price.  You may have competitors who offer the exact same products as part of their service as you do, but the value comes from how you deliver your service.  If you don’t believe your service is worth the investment your asking it isn’t.  If that’s the case you have a choice to either lower your price, or you can determine what you can do to make the way you provide your service more valuable than it is now.  I’d vote for the later.

Most often the reason your given a price objection isn’t related to price at all, it’s related to why.  Every buyer has a reason why they want to buy a solution like your service provides, and why they want that solution now.  Until you’ve uncovered or discovered their reason why you can’t get to the next critical question which is, “why you”.

Most sales people try to jump to the “why you” question without discovering the “why” and “why now” questions.  That doesn’t work because it makes the prospect feel like they’re being sold, and drives them away from you.  Find out “why” and “why now”, and you’ll drive your prospects to you so they’ll want to hear “why you”.

This entry was posted on Wednesday, January 23rd, 2008 at 6:42 pm and is filed under coaching. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.