06/11/2019
Customer says your price is too high, What to do?
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Everybody wants a good deal, we cannot argue about that, while you may think that a 10% or 20% discount is not a big deal. The truth is that giving away discounts just to win or secure deals can cost you more than just money, it can kill your company
By giving away discounts you creating a culture which says that your company is a discount business and in that way you will only attract clients who are discount conscious. This will eventually hamper with your revenue and profits in the long term which will put a heavy strain on the company growth and operations.
The thinking that cheap is the best way to get customers to buy is misleading for small businesses and we should unlearn that. The question most companies ask is: "How low do we have to go to get the customers to buy?" rather ask "How do I add enough value to what I already sell so that people will pay twice as much for it?"
FOCUS ON VALUE: Always think and talk about value with your clients / prospects, never talk about price. Show your client the value they will receive by using your product or service.
DON'T BE NEEDY: Never sound desperate or needy when you are talking with a client. They will pick it up and negotiate a deal which is favorable for them and not you. Don't try to justify your value, just name your price and if the client is not happy tell them they are more than welcome to shop for other offers elsewhere.
QUALIFY PROSPECTS: Not every customer is the right customer for your business. Before offering your services or products you need to qualify the customer by finding out how why they choose your company, which results to they want to achieve with your product or service and how much are they willing to pay.
American Entertainer and Businessman P.T Barnum once said some will, some won't, so what, who is next?. This means that customers are born every second and that you should never compromise your value for a quick sale.
To learn more on how you can increase your sales and run a profitable business email [email protected]