“But Your Price Is Too High.”  

“But Your Price Is Too High.”  

This isn’t a problem or issue, it’s a challenge.
For an objection that happens in most every sale, you would think we would be so much better at handling it, but the most common response is a discount, without any understanding of what’s needed, or why we should even discount.
Before I go further, I’m not naïve. I’m not saying we will not make adjusts to our pricing. My point is, that we, and the customer, must establish a sound basis for evaluating the pricing vs value, of the solution to them. Without this, it’s impossible to know what’s reasonable and what’s not.
When the customer says, “Your price is too high,” the first thing we need to do is understand the basis for the statement. Why do they think the price is too high? Are they just saying it because they are obligated to saying it? Are they comparing our pricing to others? To make that statement, the customer must have a basis for it. Our job is to probe and understand that basis. Until we understand why they make that statement, we have no basis for any discussion about pricing. We also have no basis for negotiating, if, and when, we ever get to that point.
“Your competition is cheaper!”  So what!  If we accept this, then we are saying our value is no greater than our competitors and we have no differentiation.  What you are saying to the customer is, “You’re right, we’re no different than the alternatives!”  Our obligation is to understand what our customers value, then to create, and communicate relevant, impactful and separate value for the customer. If we aren’t doing this, then we aren’t doing our jobs.
The customer must have a clear basis for making a choice, we have to give that to you, we have to make sure they demand that from everyone they are considering. Don’t let anyone take the easy way out by saying, “They are all the same, it’s just a matter of pricing.”  The alternatives are never the same. Risk, company stability, company confidence, relationships, reliability, quality, and the list goes on.  Nothing is ever the same.
Most of all, the differentiator is up to us.  What we do, the insight we bring to the customer, the work we do in facilitating their buying process, the relationship we work to build, are all important differentiators.
So, if you think our price may be too high. We will work to show you this is not so, in a context that is meaningful, and based on value delivery. 

2017-06-20T18:23:41+00:00