You have the customer and the price you’re going to charge is right — at least it is to you.
Problem is the customer doesn’t feel the same way. They feel the price is too high and they’re refusing to buy. How should you respond?
Here are 5 ways to deal with the customer rejecting your price:
1. Refuse to budge and state very confidently there are plenty of other customers out there who will pay the price.
State it with confidence and then walk away, making the customer make the next move. If you play this card, remember you can’t come back and change anything.
2. Ask the customer a question that deals with the biggest reason they wanted to buy from you to begin with.
The customer is interested in what you have to sell based on a desire they have or a problem they need to deal with. Run with it. Don’t let them forget about why they’re talking to you. Objective is to them realizing they need you.
3. Break the price down and restate it in a way that reflects total cost of ownership over an extended period of time.
Your offer might be more expensive than others but in the long-run could result in significant savings.
4. Provide the customer with two options.
One option is a higher-priced option that offers even more, and the second option is less, but takes out quite a bit. Your goal is to give the customer the power to choose. Many customers like to state a price is too high, merely because it allows them to feel they are in charge. Giving the customer options provides them with the sense of control.
5. Act completely shocked and dumbfounded at how the customer could feel the price is too high.
This is a risky play but works well with customers who are not self-confident and not sure of what the right move is. If the customer sees you as the expert, your response can be just what they need to feel buying at the price is the right move.
Copyright 2015, Mark Hunter “The Sales Hunter.” Sales Motivation Blog. Mark Hunter is the author of High-Profit Selling: Win the Sale Without Compromising on Price.
Great points Mark, especially #4. Too many choices lead to analysis paralysis: I’ve found 2 choices is ideal for most people.
It’s my first visit on your awesome blog and I’m so excited and surprised. There is a lot of very useful tips about social media marketing. Appreciate for amazing 5 ways to deal with the customer rejecting your price.
Your so-called “expert” in sales advice is the very reason some or most customers would find arrogant, brash ignorance and dishonest. Using intimidation tactics, preying on customer ignorance. My response to any of these suggestions would be to politely state to you to “leave the premises immediately” “and don’t ever call back”. My business is knowing what the right price range is FAIR for different kinds of work requiring any kind of remodeling, roofing, electricians for electrical work, carpentry, tile work, etc. In this section of the particular county where I reside there are contractors like yourself who quote at price ranges that are double and triple the normal rates. Over time some of the residents, that live here didn’t know the difference what’s fair and what is not fair or reasonable. But the word got out. I had contractors tell me it’s a common practice, bid high, size up your prey, bid double or triple the actual real cost is. Do this with every bid. Every 6 to 8 high bids means you will get one bite. Which means you will get paid double for doing only one job. I have issued bids for small jobs in the thousands to very large jobs in the multi-millions. I have done commercial facilities and government facility bids and have worked in 17 states throughout the country including Alaska.
1. Refuse to budge and state very confidently “there are plenty of other customers out there who will pay the price”. Oh yea, this is real smart. This is the best way to create friction. Making stupid remarks like this.
2. Ask the customer a question that deals with the biggest reason they wanted to buy from you to begin with. You can talk till your blue in the face, you can get on your knees and beg, please don’t you understand you need me. Some time during your God awful sales talk a light bulb should click on over your noggin. Oh I get it, I’m too damn expensive!!! Maybe he got a better deal, a more honest speaking contractor, with no jive talk or arm twisting.
4. Provide the customer with two options. A high price and a bare bones price. Why not get a contractor that will provide the work at a FAIR price. In contracting there are no short cuts, unless your looking for bad reviews or law suits. Two optins? Terrible advice. Why not complicate it more give him 6, 9, 10 options.
5. Act completely shocked and dumbfounded at how the customer could feel the price is too high. A totally stupid ploy. You have to do this to get every job? Doesn’t this tell you something, your too damn high your a fake, and they DON’T TRUST YOU!! In case you haven’t mastered the art of bidding a job, TRUST IS EVERY THING. YOU MUST ESTABLISH A BOND OF TRUST . TO DO THIS YOU SUPPLY CREDENTIALS OF NAMES OF PAST CONTRACTS THAT CAN BE CHECKED. LICENSE, REGISTRATION WITH STATE CONSUMER FRAUD and OTHERS COPIES. YOU GET THE DRILL?