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Overcome Pricing Complaints Without Lowering Your Prices

No matter what type of business you own, no matter what services you offer, it doesn't even matter if your prices are at or below market value it is guaranteed that you will come across potential clients who claim that your prices are too high. They will attempt talking you into lowering your prices for them, but don't. So how can you handle this?

Firstly, you need to confident in your set pricing. You need to know your worth. Don't escalate the situation by starting an argument but rather remaining calm and acknowledging their concern, if you know that yes your pricing is on the higher side simply agree with them and follow up with a brief and gentle explanation as to why your pricing is what they are for example the quality of materials or products used, or the qualifications and experience of the staff. Explain whatever it may be.

If the customer does not accept your explanation and continues to complain or argue simply just accept it and let them walk away, let them shop elsewhere. After all at the end of the day accepting that customers job at the discounted rate is blocking out a time that could be filled with a full paying customer that knows and respects your worth.

If you dont want to allow the potential customer to walk away there is some things you can do, some strategies that can be used without lowering your pricing. There is an interesting article published on inc.com written by AJ Agrawal a successful CEO, within the article he provides 3 different strategies that you could use to overcome pricing complaints without lowering your pricing, and they are strategies that everyone can use.

The first strategy is letting them have a different kind of win. Give them something of value that isn't money. You could offer things like a free tutorial, a voucher or coupon, a membership to VIP features within your business. Something they feel is valuable that is simple enough for you to give them.

The second strategy is to offer an alternative solution. Say the pricing complain arises on a particular product simply offer an alternative cheaper brand or even a simpler model of the same product. By doing this you are showing the customer that you wont budge on your price but you are also showing a willingness to work with them to find a solution at a cost they deem reasonable. It is a win-win for everyone. They get a solution and you get their business without lowering your margin.

The last strategy is to agree and defend like we spoke about above. Simply agree that the price is high but justify and defend it. It is recommended to throw in something like "a lot of customers say this before they buy" it is proven that people dont mind spending money as much if they see everyone else spending it.

To read the full article go here

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