Posts

What to Tell Clients Who Say “You’re too expensive.”

What to Tell Clients Who Say You're Too Expensive

Credit: flicker

First of all, I can’t and won’t blame you if you just put an end to the whole thing right then and there. It’s the equivalent of being “friendzoned” by your love interest. Hey, don’t pursue it, don’t force the issue. And move on. There’s plenty of fish in the sea. You can even throw in the “it’s your loss, not mine” card.

That would have been my advice 10 years ago, when I haven’t had the benefit of a ton of experience yet – both stressful and rewarding — in marketing, sales, negotiation, compromise, and yes, nurturing relationships. I, too, wish it were as simple as that.

But it’s amazing how much the years teach you. As you log on miles in life and in whatever career you are in, so do you gain wisdom – wisdom necessary to prove your point, to refute a claim, and to respond to statements that the inexperienced of the lot dread. Such as when a client tells you — after you’ve gone through all the barriers and checklists and demos – that “Your product/service is too expensive.”

It will stun and it will sting and sometimes, it will leave you groggy – just like what a punch to the temple does to boxers. But when you’ve had more than your fair share of hits like that, you instinctively roll with the punch — and sometimes, throw a counterpunch or two.. Here’s what I’ve learned from experts, from clients, and from my personal experience.

 


Ignore it.


Yes, exactly what I would have said 10 years ago. But why? Because whether you like it or not, there are really times when you don’t have to defend yourself, or in this case, your price. When you’re in a position where you’re filled to the brim with other clients (who don’t complain), it’s better to use your energy on them than waste it engaging with people like this.

In this case, just thank the client for considering your company and tell them you were glad to have helped them. Never apologize for your price and stay connected with these prospects. We’ll never know when they change their minds and vacate to your company. Don’t stop nurturing and keep them interested always. Send them some digital downloads like your case studies or white papers. That’ll make him/her think twice.

 

Read more tips on How to Hold Prospects Longer on a Phone Discussion

 


Admit it. And sound proud.


Say, “Yes, you’re right. But our company – and most other self-respecting companies, actually – believes that price is a reflection of quality. You get what you pay for.”

Then proceed explaining in detail the kind of software or technology behind the product or service, the amount of work or the extraordinary skills required to come up with your special kind of product, or the amount of time it took to develop the product.

Some clients will be enlightened, some will even be ashamed of themselves, while others will not budge. But you’ve sent the message – you get what you pay for. Here are 3 steps to follow when defending a high price.

 


Respond by saying, “What makes you say that?”


This brilliant counter move should put the assertive-bordering-on-aggressive client on the retreat. Follow up by saying, “Expensive compared to what?”
Make sure your tone is genuine and curious and not aggressive. The last thing you want to do is alienate the client or create an air of animosity. Trying to put things in perspective will give the client an opportunity to justify himself, and you, the opportunity to know whether the client knows what he’s talking about.

Why is this important? Because this is the phase where you decide whether to pursue the client or not, and it depends on the client’s answers.

  • If the client honestly doesn’t know the cost, you have a chance to explain why the price they’re paying you is worth the investment. If it’s $5000, compare it to something of a similar value but with less or without ROI, like buying a big bike or a used car, both of which depreciate over time. Your product, meanwhile, alleviates a pain point, and has a huge potential to have a high ROI.
  • If the client has done his research, asked around, and happened to compare you with a cheaper company, then you have another opportunity to emphasize your value. Explain why your rates are higher – you shouldn’t have trouble doing that. And don’t forget to remind the client why he called you even when he’d been quoted a cheaper rate before.
  • If the client is just using the “you’re too expensive” card as an excuse because he’s not yet ready to buy, perhaps you can offer a limited-time-only promo or something to make him reconsider.

Bottom line is, asking “Expensive compared to what?” will open doors for you and potentially tilt the scales in your favor, and even lead to a sale.

 

Here are some tips on how to bounce back from a lousy sales call? Watch this!

Read more details on Rebound After a Horrible Sales Call [Video]

 

You might also like: CHAMP Methodology: Spot on Sales-Ready Leads with These Questions


Don’t Take it Personally


Every time you’re in a position where clients say your product is too expensive, don’t take it personally. Remember, most buyers have a linear way of seeing and understanding value: it’s a good or great price when perceived value is higher than the amount they pay for it, and it’s too expensive when the amount they have to pay outweighs the perceived value.
If it’s any consolation, think that if you’ve never had clients telling you that you’re too expensive, you’re probably not charging enough.

What did you miss: The 5 to 5 Calling Rule for Inbound Leads (That Generated Over 40% Increase in Sales)

 

 

Get better chances of generating leads, download our FREE Ebook: The Ultimate Lead Generation Kit

The Ultimate Lead Generation Kit [Ebook]

 
 

 

What to Tell Clients Who Say “You’re too expensive.”

What to Tell Clients Who Say You're Too Expensive

Credit: flicker

First of all, I can’t and won’t blame you if you just put an end to the whole thing right then and there. It’s the equivalent of being “friendzoned” by your love interest. Hey, don’t pursue it, don’t force the issue. And move on. There’s plenty of fish in the sea. You can even throw in the “it’s your loss, not mine” card.

That would have been my advice 10 years ago, when I haven’t had the benefit of a ton of experience yet – both stressful and rewarding — in marketing, sales, negotiation, compromise, and yes, nurturing relationships. I, too, wish it were as simple as that.

But it’s amazing how much the years teach you. As you log on miles in life and in whatever career you are in, so do you gain wisdom – wisdom necessary to prove your point, to refute a claim, and to respond to statements that the inexperienced of the lot dread. Such as when a client tells you — after you’ve gone through all the barriers and checklists and demos – that “Your product/service is too expensive.”

It will stun and it will sting and sometimes, it will leave you groggy – just like what a punch to the temple does to boxers. But when you’ve had more than your fair share of hits like that, you instinctively roll with the punch — and sometimes, throw a counterpunch or two.. Here’s what I’ve learned from experts, from clients, and from my personal experience.

 


Ignore it.


Yes, exactly what I would have said 10 years ago. But why? Because whether you like it or not, there are really times when you don’t have to defend yourself, or in this case, your price. When you’re in a position where you’re filled to the brim with other clients (who don’t complain), it’s better to use your energy on them than waste it engaging with people like this.

In this case, just thank the client for considering your company and tell them you were glad to have helped them. Never apologize for your price and stay connected with these prospects. We’ll never know when they change their minds and vacate to your company. Don’t stop nurturing and keep them interested always. Send them some digital downloads like your case studies or white papers. That’ll make him/her think twice.

 

Read more tips on How to Hold Prospects Longer on a Phone Discussion

 


Admit it. And sound proud.


Say, “Yes, you’re right. But our company – and most other self-respecting companies, actually – believes that price is a reflection of quality. You get what you pay for.”

Then proceed explaining in detail the kind of software or technology behind the product or service, the amount of work or the extraordinary skills required to come up with your special kind of product, or the amount of time it took to develop the product.

Some clients will be enlightened, some will even be ashamed of themselves, while others will not budge. But you’ve sent the message – you get what you pay for. Here are 3 steps to follow when defending a high price.

 


Respond by saying, “What makes you say that?”


This brilliant counter move should put the assertive-bordering-on-aggressive client on the retreat. Follow up by saying, “Expensive compared to what?”
Make sure your tone is genuine and curious and not aggressive. The last thing you want to do is alienate the client or create an air of animosity. Trying to put things in perspective will give the client an opportunity to justify himself, and you, the opportunity to know whether the client knows what he’s talking about.

Why is this important? Because this is the phase where you decide whether to pursue the client or not, and it depends on the client’s answers.

  • If the client honestly doesn’t know the cost, you have a chance to explain why the price they’re paying you is worth the investment. If it’s $5000, compare it to something of a similar value but with less or without ROI, like buying a big bike or a used car, both of which depreciate over time. Your product, meanwhile, alleviates a pain point, and has a huge potential to have a high ROI.
  • If the client has done his research, asked around, and happened to compare you with a cheaper company, then you have another opportunity to emphasize your value. Explain why your rates are higher – you shouldn’t have trouble doing that. And don’t forget to remind the client why he called you even when he’d been quoted a cheaper rate before.
  • If the client is just using the “you’re too expensive” card as an excuse because he’s not yet ready to buy, perhaps you can offer a limited-time-only promo or something to make him reconsider.

Bottom line is, asking “Expensive compared to what?” will open doors for you and potentially tilt the scales in your favor, and even lead to a sale.

 

Here are some tips on how to bounce back from a lousy sales call? Watch this!

Read more details on Rebound After a Horrible Sales Call [Video]

 

You might also like: CHAMP Methodology: Spot on Sales-Ready Leads with These Questions


Don’t Take it Personally


Every time you’re in a position where clients say your product is too expensive, don’t take it personally. Remember, most buyers have a linear way of seeing and understanding value: it’s a good or great price when perceived value is higher than the amount they pay for it, and it’s too expensive when the amount they have to pay outweighs the perceived value.
If it’s any consolation, think that if you’ve never had clients telling you that you’re too expensive, you’re probably not charging enough.

What did you miss: The 5 to 5 Calling Rule for Inbound Leads (That Generated Over 40% Increase in Sales)

 

 

Get better chances of generating leads, download our FREE Ebook: The Ultimate Lead Generation Kit

The Ultimate Lead Generation Kit [Ebook]

 
 

 

The Winning Sales Pitch: 5 Pillars of Telemarketing Calls

The Winning Sales Pitch: 5 Pillars of Telemarketing Calls

They say that the best sales people are born, not made.

That may be true, but that doesn’t mean telemarketers cannot go from regular conversationalists to expert merchants. With the right knowledge and tools, there’s always room for skill improvement and growth.

All the content preparations, lead generation activities and hopeful interactions boil down to the sales pitch. It’s the climax of the film; the finale of the concert. It’s when the fat lady sings.

In short, it’s the make-or-break moment for telemarketers.

Ray Carroll, Director of Sales at Marketo, shares  his 5 pillars of a successful sales pitch and how telemarketers can better themselves in terms of closing in on a sale.

From Marketo.com:

1) Win Your Deal on the Discovery Call

Ask questions that put your company ahead of your competition. Take at least 15 minutes before each discovery call to map out the questions you want to ask, and the questions you anticipate.

On the flip side, listen to your prospects. Top performers create an environment that feels like a tennis match – they allow for an equal exchange between the buyer and seller.

2) Research

Thanks to what we call “information abundance”, today’s sales teams face new challenges in selling products. Our prospects can now do an incredible amount of research on our products before they buy (of course, that’s where lead nurturing comes in). But the abundance of information goes both ways.

Level the playing field by doing your own research. Scour their corporate website, look them up on LinkedIn, follow them on Twitter, and check them out on third-party review sites.

Related Post: Lead Nurturing Done Right: Introducing Callbox Pipeline’s Lead Nurture Tool

3) The Presentation is the Performance

Your agents should customize every sales presentation, and each one should be truly memorable. No matter what you’re selling, the presentation is the performance, and most people can’t stand canned presentations. Prove that your presentation has been personalized in the first 60 seconds. Don’t start with why your company is great; start with how you can help the prospect’s company.

4) Ask For (and Earn) the Next Step

Don’t just ask for the next step, earn for that next step – every single time. This is Sales 101: secure a next step every time you interact with a prospect. But junior reps often forget that next steps need to be earned, not just requested.

If you ask for a next step, and you get rejected (for example, if the prospect says “Don’t call us, we’ll call you”), it’s time to do some soul searching. What you could have done differently?

Related Post: Lights. Camera. Appointment! Developing an Award-Winning Call Script

5) Be like-able

People do business with people they like. It’s a brutal truth of selling. If you’re cold or grumpy, or if you’re whining about the weather all of the time, your prospect will decide to spent their time elsewhere. If you’re pushy or insincere on a personal level, you’ll lose their business.

 

Ending a Cold Caller’s Nightmare: Steps to Bid Anxiety Bye-bye

Featured Blog: Ending a Cold Caller’s Nightmare: Steps to Bid Anxiety Bye-bye

 

Source: The 5 Pillars of a Successful Sales Pitch

 

Fix Your B2B Leads Sales Pitch Like Dinner

Generating sales leads through the phone can be a real challenge, one that always pushes the limits of telemarketing services. That means a need for a better sales pitch. Now, before you start saying that sales pitches are no longer part of modern marketing and networking campaigns, you need to remember that this is the one part of the process where you introduce your business to sales leads prospects. Failure to properly execute your pitch will cause you to lose prospects, as well as fail to attract those at the periphery of your market. Now, to ensure proper delivery, you need to proceed with these steps, akin to a dinner:

  1. The aperitif – at this point, the appointment setting prospect has absolutely no idea about your business. Do not bombard them with details yet. Rather, use this time to tell them what you do, like ‘we make the future safer’, ‘the answer to the world’s problems’, and the like.
  2. The appetizer – after hearing your initial description, your lead generation prospects would most certainly be curious at what you exactly do.  This is the right opportunity for you to dive into the details of your business, telling them what you exactly do and the number of clients and customers that you have helped.
  3. The main course – this is the part where your selling skills will be needed, since you will be convincing your prospects that your business will work for them as well.

If you have properly introduced your business in the first two steps, then you will not have any lead generation problems when doing the last stage. The dessert would be the B2B leads you generate successfully.