What do you do if your clients object to the price or budget constraints?

From my experience, often the client does not buy what you think you are selling him. The client buys a solution to his problems, if the price of the problem is higher than the price of your solution, then this is an opportunity to sell. Focus on understanding the value, what exactly the client buys, the price of the product is secondary Reducing price is the easiest thing, adding value is the key to success

If clients are hesitant about the price, focus on showing them the value they'll get. Explain how your product or service meets their needs and helps them achieve their goals. Be clear and patient in your discussions, and emphasize the benefits they'll receive. It's about building trust and helping them understand why your offering is worth the investment.

Firstly try to collect data/information from the clients.Then try to find out the true scenario. Compare the price with the provided value.Create various options for clients.Take various strategies/solutions. Finally continuously follow up.

It is always essential to assess stakeholder engagement throughout the lifespan of a project to avoid such reaction. Getting key stakeholders updated and involved is crucial for smooth progress and healthier communication. Besides, it does worth to have phase gates/sprint reviews meetings with the client to stay updated on benefits and outcomes achieved which allow them to understand cost-benefit status as well.

When clients object to pricing due to budget constraints, offering flexibility can be key. As a CTO, I’ve seen the benefits of tailoring packages to fit specific budgetary needs or introducing payment plans. This approach not only maintains the business relationship but also demonstrates a commitment to client needs, fostering trust and long-term loyalty. Flexibility in service offerings allows for continued engagement with clients while they manage their financial constraints, creating a foundation for future opportunities once their budget increases. This strategy has often turned challenging negotiations into successful partnerships.

Help the customer, introduce a special package or even special licensing program for them with unique price and terms. Many times in my career such a "unique" offer became main licensing scheme instead of some "home-made-licensing-copied-from-big-guys-usual-approach"

Show them value you are bringing against the price . Explain the ROI not for imediate tenure but for extended years . Differentiate between you and competition .

An alternative does not mean a cheap product or bad service, but the customer’s perception of an alternative offer may be exactly that. Instead of an alternative, invite the client to help you come up with a solution to his problem that will be within his budget, move the negotiations from the "buyer-seller" position to the position of "partners solving the problem"

From an experience, each client and situation is unique, so it's important to approach objections with empathy and a solution oriented mindset. In this case, If possible provide alternative options that may better fit their budget. This could involve adjusting the scope of the project or offering a payment plan, to fullfil their needs without jeopardizing the project.

From experience: There is no need to insist on the quality of your product and the results you deliver. This is the road to nowhere Bring a satisfied client as a reference, take the client to show the product in action. Or just don’t waste your time, go communicate with other clients. The time you spend here is time you are not spending with other clients in your funnel.

When facing pushback, I actively listen to clients' concerns and address them empathetically. I clarify any misconceptions, provide additional information, and negotiate to find a mutually beneficial solution that addresses their objections.

Long-term value is a great tool to prove the value of your product. Demonstrate a desire for long-term relationships with the client Speaking from experience, add this to your presentation from the beginning rather than just remembering it when the client starts talking about discounts.

I emphasize the long-term value of the product or service to overcome price objections. By highlighting the potential return on investment, cost savings, improved efficiency, or competitive advantages our offering brings, I help clients see the bigger picture beyond the initial price.

If clients still hesitate, I propose a follow-up strategy. This may involve providing additional data, arranging a demonstration or trial period, or suggesting a reassessment of their needs and budget at a later stage when circumstances may be more favorable.

Remember: Rome wasn't built in a day Respect your client and respect yourself Take a step back, agree with a client about next follow-up point in time and go talk with other clients

How about I disagree with this statement. Not everyone appreciates follow-ups, especially if they feel too sales-driven. Some people prefer a more hands-off approach and appreciate the freedom to make their decision without feeling pressured. It's important for businesses to strike a balance and respect their clients' preferences regarding follow-ups.

From experience: Each round of price negotiations with one client is an opportunity to improve and fine-tune your price proposition for the market. I have many examples where unsuccessful price negotiations turned into new product packaging options and even a new product for the market. Look at every customer conversation as an opportunity to sell to others.