Have you ever had a customer or client wanting to bargain down your price or quote to a offensively low level, but you haven’t really known how to assert or defend the value of your price or quote.
This month, our business networking group discussed ways of how to assert your value and attract clients who will pay your desired price. This was a great discussion and in current economic times many business owners are being prompted and questioned to reduce their prices and quotes, so here are some other tips to handle these issues better.
1. Make them educated and appreciative of what you are doing.
2. Stress your differences.
3. Have a strong brand, adding this will mean giving you the ability to charge more than competitors.
4. Sometimes not the best business charges more because of better marketing and sales communication, than the better business who may not have organized their marketing message well.
5. Build value in what you do.
6. Make them experience what you do, see it in action or have a taste of it. This will reinforce your difference in quality. A simple trial to see how good you are, may be the difference which keeps them as your customer.
7. Remind them of the good and the bad things that can happen in your industry in the outcome of buying goods or services you sell.
8. Have a big differentiation.
9. Give bonuses and explain to them. Make a hype about them. Sometimes we don’t even mention things that are included in our services or goods, which our clients think a great value. Maybe your competitors are or are not mentioning these bonuses which can be easy to provide.
10. Sell using inspiration, for example you too can be looking this good if you use our products.
11. Find out the underlying motive of why really someone wants to buy this product, and use this to reinforce the sale to them.
12. Use fear to sell, for example saying would you really want to risk your family with the lesser brand than ours.
13. Learn from when you get an objection to selling to a customer, and have a response to that objection. For example a common objection to any selling call to action is “I want to think about it”, “let me ask my partner”. Make sure you know how to answer these common objections.
14. Getting referrals nullifies the importance of price. When someone has been referred to you, usually your quote will be much more in engaging and converting. So work on your referral systems.
15. Offer flexible payment plans or options to pay.
16. Add systems and quality delivery points, which customers recognize as quality about you and make them want to work with you and buy from you.
17. Always be up front about your fees and stick to your quotes.
18. Try to convert online leads into a more personable one-on-one meeting to increase your conversions.
19. And of course most of all this may sound really basic, but get to know your lead. Ask them their name, something about them, the more you connect with them, the more they like you and the more likely they are to accept your price or quote.