If you’ve been in business longer than a week, you’ve probably heard this objection from at least one potential new client: “It just costs too much.” Or, you might have heard it this way: “I’m really interested but I think I can get it cheaper somewhere else.”
Everyone wants a bargain, but not everyone really believes they can get your product somewhere else for less. And many who use this line will never actually invest the time required to shop around for a better price. So, how do you handle this situation?
Begin by understanding that most people are afraid to part with their money. Money equates to security. It doesn’t matter whether you’re asking them to pay $19.95 or $1,995 in exchange for your product, the feeling is the same. But people are happy to spend their money when they see that there’s more value in gaining your product than in retaining their money. And that is where you need to take them in their thinking before they will consider buying.
When clients object to your price, the first thing you should do is to feed it back to them. Say to them, in as warm a way as possible, “You think the product costs too much?” They’ll either agree or hesitate, re-thinking their reasons for saying that. If they agree, ask how much they had expected to pay for a product like yours with all the benefits it offers. List again the benefits of the product. What you’re doing is building value in order to decrease their resistance to buying.