Not expensive enough!
Not cheap enough!
If you are hearing
these words when selling your services or product, then is it really the price
tag the reason for this reaction from a potential customer?
If someone wants something, whether as a need or want,
they’ll find the money and pay up regardless of the price. (Remember the
Excuses: It’s The Economy chapter where this was discussed?)
If you can't get buyers, then the answer is not to reduce your price and possibly be in a race to the FREE line. Instead I suggest that you find out how
to make your pricing irrelevant and one method lies in changing your verbal or written sales message.
Even when you hear:
"No thanks, your price is too high"
or
"No thanks, your price is too low"
usually means one thing; you haven’t shown the value of your service or product to justify why you should be paid in exchange for your service or product.
usually means one thing; you haven’t shown the value of your service or product to justify why you should be paid in exchange for your service or product.
In the last two
scenarios, most experienced sales peeps would say the reaction is:
1) it as price objection or 2) price resistance.
What is price
objection?
When the price is perceived to be more than a prospect can afford.
What is price resistance?
When a possible customer is opened to being convinced.
Both can be avoided once your buyer sees the value in what they are buying from you and how it solves their problem.
This next bit of info may come as a surprise to you.
Both can be avoided once your buyer sees the value in what they are buying from you and how it solves their problem.
This next bit of info may come as a surprise to you.
The value sought has nothing to do with financial currency (another way of saying your price or the trade off)
Huh?
Do you recall the chapter: Excuses: No One Will Buy From Me where I spoke about getting back their priced paid value?
Well when you guide your potential buyer towards achieving
their own lightbulb moment, your currency (price or trade off) is secondary because they wont even see
it as a block to buying.
WHAT DO I MEAN?
The real currency
value (or tradeoff) is your ability to
solve their problem with your service or product solution.
For example: someone is shy and are seeking help in being more confident in certain situations and you are offering self confidence classes or have a digital product that they can purchase. Show them that you can assist them towards their end goal, that’s all they are interested in NOT your pricing (trade off )
For example: someone is shy and are seeking help in being more confident in certain situations and you are offering self confidence classes or have a digital product that they can purchase. Show them that you can assist them towards their end goal, that’s all they are interested in NOT your pricing (trade off )
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Why are people not buying your product?
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Is it really about price though?
Here’s another example of perceived value in the form of a
story. (Unsure of the author or how true it is though. Read and then decide if really is based on a true story or not because it is to be read as further emphasis of illustrating my point here on pricing.)
A painting was on sale and a potential customer inquired about the price.
How much she asked.
The seller said $16.
She replied 16K let me call my husband.
He said no, I said $16.
Hearing this she said: "Ughhhh" and walked off.
Moral: People with money aren't afraid to spend it
especially on things they want or things they know they need. So 16K might be a
lot to you but it's a drop in the ocean to some.
Know your service value.
Know your product value.
There are many customers waiting to pay YOUR price.
Know your product value.
There are many customers waiting to pay YOUR price.
As usual before I go,
here are some books on sale at Amazon, that I think may be of interest to you on this subject
This author is one of the foremost experts on motivation showing you that you do not need to be an intellectual or have an innate talent to attain great success
and satisfaction.
Warning:Remember it was written many moons ago and yet even though some of its content may come across as sexist or old fashioned, the underlying
message of the book has not changed and is still as effective today.
Any Wayne Dyer book. My first one was the famous Your Erroneous Zones.
Another author showing you how to rewrite your old programming
mindset so that you can change how our react
than previously before.
I dare you to read this book without having any lightbulb
moments! Inside are many different ways to approach achieving financial independence with lots of practical doable financial advice.
Another eyeopening book I found.
Find out more about it here.
Chat again in my next email...
Image credit: Pixabay 522549
