You're facing pushback on your new product's pricing. How will you convince clients it's worth the cost?
When facing resistance on your product's pricing, the key is to validate its worth. Try these strategies:
- Highlight unique benefits. Show how your product stands out from competitors.
- Share success stories. Provide examples where your product has added value for other clients.
- Offer a trial period. Let clients experience the benefits firsthand before committing.
How do you handle conversations about price with clients? Share your insights.
You're facing pushback on your new product's pricing. How will you convince clients it's worth the cost?
When facing resistance on your product's pricing, the key is to validate its worth. Try these strategies:
- Highlight unique benefits. Show how your product stands out from competitors.
- Share success stories. Provide examples where your product has added value for other clients.
- Offer a trial period. Let clients experience the benefits firsthand before committing.
How do you handle conversations about price with clients? Share your insights.
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I once read somewhere that price is the discussion you have in absence of value. So never discuss price, always talk about value. I think it must have been by Vusi Thembekwayo or someone similar.
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Help them understand how your new product will solve a problem you have seen them struggle with. If you can't, you may not have the right product for this client.
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When facing pushback on your product's pricing, focus on validating its worth. Highlight unique benefits that set your product apart and share success stories from satisfied clients to demonstrate value. Offering a trial period allows clients to experience the benefits firsthand without commitment. By clearly communicating the value and building trust, you can help clients see that the price reflects the quality they will receive. Please support my content by hitting the Like button, commenting, or both. #ValueProposition #SalesStrategies #ClientEngagement
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Depends what you’re selling. If it’s insurance just drop hints about the potential cost of NOT getting coverage. “What if there’s a fire in your warehouse? Or a truck, goes off the side of the road? there's injury!” Then push over a piece of furniture as you’re leaving and say, “Would you look at that people? What an unpredictable world we live in. You’ll be hearing from me soon, I can be very persistent.”
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We recently had a sit down meeting with a new client to discuss concerns about pricing. The client wanted to know how labor translated to an hourly rate. He responded that there was no way we pay an installation technician that much. I then went through a very detailed example of all the costs that are in an hourly rate including payroll taxes, SS, worker comp, general liability, etc and all of the other expenses. I often find that when you spend the time to explain pricing or price increases in details customers respond positively. Every single person you talk to today has a first hand personal experience with product shortages from COVID, they see inflation and know that today everything costs more than
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