When Clients Ask About Price, Offer Value Instead

“…At The End Of The Day, You Learn Something New”

Does this phrase sound familiar? You may have heard someone at our company use this sentence. Would you like to learn why?

In a study posted by the Harvard Business Review, research indicated that consumer buying habits are driven by the decision simplicity index . This is a list of factors that affect consumer purchasing decisions, and whether or not they would recommend your product or services to others. In the ranking, price is listed as the most important to consumers.

How Do You Sell Your Services If you Don’t Talk About Price?

Selling a service is one of the most difficult sale any business owner can make.

As a business owner, you must not forget the reason why a potential client is calling you in the first place. They are in need of a service that you offer. While someone may tell you that they are in “no rush” and “doing research” (our personal favourite!) We can assure you the only thing they are fishing for is the price.

So how do you come around and sell your services if the client is fixated on price?

The answer is to meet your clients face-to-face and offer them value.  In the client’s head, they have already assumed the value of your services when the first thing they ask you about is price. Rather than letting them walk away with just your prices, you need to increase your value to them. Typically factors that will increase the value of your services include:

♦ Years of experience
♦ A specialization in client’s need
♦ Superior knowledge in a specific niche
♦ Large network of professionals/businesses in the local area
♦ Wide variety of service offerings (allowing client to get everything under 1 roof)
♦ Any sort of publication or press displaying your expertise
♦ Having a nice, welcoming office (or a conveniently located one)

 Map all of the factors that make you stand out from your competitors, and rehearse them. Having this kind of arsenal ready for your client’s initial consultation will surely help you increase the value of your services. Ask for qualifying questions to better understand their situation and so you can prepare yourself for the meeting. Earn their trust and prove your expertise on the first call, so that when they show up to the meeting, they will be impressed.

Educate your clients on how your business operates, the local market for your services and what competitors are doing in the area and how you do it differently…teach them something new.

So the next time you get a call asking “how much”?, make sure you let them know that they should schedule a meeting with you regardless of your prices. Show the potential client, in a face-to-face meeting, why you offer superior value, why they should choose you over your competitors and why price shouldn’t be the deciding factor for them.

Remember: Clients don’t shop for price, they shop for value.

You never know what kind of referrals or other services this client may have for you, so never label someone as a “price-shopper”.Try this method and watch your inquiries grow from leads into new clients.

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