Your key client is unhappy with your pricing structure. How will you win them back?

In my role as Assistant Manager in Business Development, when a key client expresses dissatisfaction with pricing, I prioritize active listening to truly understand their concerns and the impact on their business. By acknowledging their feelings and engaging in empathetic dialogue, I aim to build a constructive foundation for resolving issues and finding mutually beneficial solutions.

In my years of experience in selling premium products, I have often faced this challenge and have applied the power of being upfront with the client on the standard product prices with acute highlights on 'why' leading players are where they are. If he/she is a buyer who appreciates quality, they will share their piece of reservations upfront. I also believe that my product prices are not higher but competitor prices are lower due to specific "x" number of technical & commercial reasons. Even though the Buyer's KPI is on choosing the lowest bidder, they appreciate the level of competitor info that is revealed to them; sometimes as verbal comments, technical brochures or as a scope comparison file which they can use to win my case.

To win back a key client unhappy with your pricing structure, first, acknowledge their concerns and express your willingness to find a mutually beneficial solution. Arrange a meeting to deeply understand their needs, focusing on the value your services bring rather than just the cost. Explore flexible pricing options, such as tiered packages or discounts for long-term commitments, to align with their budget. If feasible, offer added value through extra services or personalized support at no additional cost. Reinforce the unique benefits of your partnership, emphasizing the long-term ROI. By showing flexibility and a client-centric approach, you can rebuild trust and strengthen the relationship.

To win back a key client unhappy with your pricing structure, follow these steps: 1. Listen and empathize: Understand their concerns and show willingness to adapt. 2. Analyze their needs: Tailor a customized solution that meets their specific requirements. 3. Offer flexible pricing options: Explore alternative pricing models, such as tiered pricing or value-based pricing. 4. Highlight value-added services: Emphasize the unique benefits and expertise you bring to the partnership. 5. Provide transparency and justification: Explain the reasoning behind your pricing and the value it represents. 6. Be open to negotiation: Find a mutually beneficial agreement that addresses their concerns.

Start by listening intently to understand their concerns. Assess the true value they're receiving and consider if the issue is truly pricing or something deeper. Explore flexible options that could better meet their needs. Reinforce the relationship by showing commitment and a genuine desire to resolve the issue. Conduct a strategic review of their account to identify areas for improvement and collaboratively plan for future success. Always ensure open, honest dialogue to uncover any underlying issues beyond pricing and address them directly.

Sometime, the value is just timing whatever the true value is. Clients may have time, money, knowledge or certain power when place a request. Make sure we get all their information before trying to assess our value.

It’s essential to consider the client’s evolving business model. I once worked with a client whose business was shifting more towards digital channels, and our traditional service didn’t align with their new focus. By recognizing this, we were able to repackage our offering to better suit their needs, making the pricing discussion secondary to the value alignment.

Assess the value needs to be rephrased into a needs analysis. From what you have learned in your interactions with the client, what are their key needs and how you are already solving them. Then take this information into a cost benefit analysis. Understanding client motivations helps to frame the value you are delivering to them, and any gaps might be the driver for their questions around your pricing structure

Offering flexible options can address price-related concerns commonly faced by sales professionals. By giving them several prices to choose from, we show that: -we are trybg our best to help and are responsive to their needs. - Shows that we as a professional or as an organisation value their business decisions.. - Allowing the client freedom in choosing makes them feel important. -Opens up a healthy environment to discuss value and pricing.. Flexibility could mean: - Discounts when buying in bulk. ( volume based ) - Embedded Service packages at preferential rates - Leasing contract or other options other than buying , in case we have such options ( in case of capital products ) - mutually agreed billing cycles Etc

Flexible Options such as custom packages, volume discounts, loyalty programs all have a strong role to play when it comes to helping differentiate your value and perceived benefits to clients. The key is to assess the financial impact to your bottom line and how the options will affect your long term business growth and sales strategy. Engage with the client to find a solution which addresses concerns but keeps your value proposition intact. Look for those opportunities where options can be beneficial for both parties, enhance the relationship and foster loyalty.

Propositions alternatives : Proposez des options tarifaires alternatives, comme des réductions pour des engagements à long terme, des paiements échelonnés, ou des bundles de services. Personnalisation : Explorez la possibilité d'adapter la structure tarifaire pour mieux correspondre aux besoins spécifiques du client, sans sacrifier la rentabilité. Incentives temporaires : Offrez des incentives temporaires, comme des remises pour une période limitée, pour répondre aux préoccupations immédiates du client.

Keep you flexible option as your secret weapon, share a bit and full stop when client reach the limitation of a normal buyer which can be easily figure out after few questions.

In today's competitive market, being rigid with pricing can hinder your sales performance. Everyone negotiates, and the competition often favors clients. Consider offering flexible options such as varying contract lengths or volume-based discounts. This approach allows clients to feel they are getting a deal, creating a sense of win-win for both parties.

Regularly check in with clients on a personal level, not just when there’s an issue or a business transaction. A simple message or call to see how things are going can strengthen the relationship and demonstrate that you care about their well-being.

From my experience what i have learned is - Adding a personal touch in customer relationships is crucial for building trust, loyalty, and long-term success. Their are few things which should be done:- 1) Listen actively to the customer. 2) You need to show very genuine and authentic interest in their personal and business life, this always helps you develop a good bonding with customer. 3) Need to make sure customer and it's company gets appreciated at each and every small or big milestone. This always makes them feel valued. 4) Pricing is one thing which can be cracked with customer depending upon relation, volume and how far will the business continue in long term. Be crystal clear with the buyer.

Communication continue : Maintenez une communication régulière avec le client pour montrer que vous êtes engagé à répondre à ses préoccupations et à améliorer la relation. Visites en personne ou vidéoconférences : Si possible, organisez une rencontre en personne ou une vidéoconférence pour discuter directement et personnellement des préoccupations du client. Approche empathique : Montrez de l'empathie pour la situation du client, en reconnaissant les pressions qu’il pourrait subir et en offrant votre soutien pour trouver une solution.

Over delivery is always something which reinforces relationships. Proving to your customer that their experience is paramount helps you win when being assessed for value for money. I like to use the 3 Ps for this one.. 1. keep your Promises 2. focus on good Process 3. use Positivity as a way to grow and enhance your client network

In the world of daily changing, loyalty is just a luxury thing except you are the "king" of something for a moment. We may ignore these until we reach there aa a "king".

Analyse approfondie : Passez en revue la stratégie de tarification en place pour voir si elle correspond toujours aux conditions actuelles du marché et aux attentes des clients. Feedback du client : Impliquez le client dans le processus d’évaluation stratégique en sollicitant son feedback sur la manière dont la structure tarifaire pourrait mieux répondre à ses besoins. Ajustements nécessaires : Si la structure tarifaire actuelle n’est plus alignée avec le marché ou les attentes, soyez prêt à apporter des ajustements pour rester compétitif.

Strategic may not mean we will consider client as an "enemy" to be win, just a "friend" to be more closed. Make the most comfortable for your client to "battle" and give them a chance to win whatever, whenever they bought.

Sometimes, it’s not just about reviewing your own pricing but also understanding the client’s broader industry context. I once worked with a client in a rapidly commoditizing market. By conducting a strategic review that included industry trends, we realized that our pricing needed to be more competitive, but we also identified additional services we could offer to differentiate ourselves.

To conduct a comprehensive strategic review, start by benchmarking your pricing against competitors, considering not only their price points but also the value they offer. Simultaneously, break down your own cost structure to understand the true costs of delivering your products or services. This combined approach ensures that your pricing is competitive in the market while also covering your operational costs, leading to a more sustainable and effective pricing strategy.

Strategic reviews of pricing come hand in hand with your ongoing market positioning and competition analysis. Once you have the results of this survey, you can build conviction around your current pricing or make adjustments to take into account new market developments and changes in the competitive landscape.

A best practice for every key account manager is to schedule annual reviews with your customers. Discuss what went well, what didn’t, and outline future plans. By demonstrating your commitment and attentiveness, you'll build a strong foundation for stable and productive planning in the years to come.

Proposition de valeur à long terme : Mettez l’accent sur la relation à long terme et les avantages continus que le client peut attendre en travaillant avec vous. Engagement sur des améliorations futures : Engagez-vous à apporter des améliorations futures qui pourraient mieux répondre aux besoins évolutifs du client, et discutez de la manière dont ces changements seront reflétés dans la tarification. Contrats renouvelables : Offrez des contrats renouvelables qui incluent des révisions tarifaires périodiques pour s'assurer que les prix restent compétitifs et alignés avec les attentes du client.

Discuss the possibility of long-term contracts with built-in flexibility for periodic reviews and adjustments, ensuring that both parties remain satisfied as the relationship progresses.

In some rare cases, you can simply open the pricing structure to the client in fully open details. Should the still be unsatisfied with it, then there is likely not a lot you can do in short term.

When a client is unhappy with pricing structure, then in some way they are not understanding why you have a structure, what he part represents in terms of value and lastly how they fit into that. As sales persons role is to be confident discussing pricing early on so that this issue can be avoided.

Surveillance du marché : Continuez à surveiller le marché et la concurrence pour vous assurer que votre structure tarifaire reste pertinente et attrayante. Innovation produit : Recherchez des opportunités pour innover ou ajouter de nouvelles fonctionnalités qui augmentent la valeur per?ue du produit, justifiant ainsi le prix. Programme de fidélisation : Envisagez de mettre en place ou de renforcer un programme de fidélisation pour offrir des avantages exclusifs aux clients fidèles, ce qui peut compenser les préoccupations liées aux prix.

When it comes to key customers, you need to offer something unique that no one else gets. Whether it's special treatment, personalized attention, exclusive workshops, or something else, these tailored efforts will make a lasting impression and show your customer how much you value them. In this way, you can sometimes overcome the pure price discussion.