How to Answer The Price Question

If you would like a better way to answer "the price question" that many potential clients ask early on in the sales process, then give this short article a read. It offers very good advice on how to handle price shoppers.

When someone calls a business, what's the  number question most people ask?
That's right: The Price Question. The moment you answer "the price question", you are dead in the water.

Why?

Often times prospective clients don't know how to judge what you sell based on anything other than price.
In this case, you need to be the one to show him or her how to evaluate what you sell. Prospective clients also may be looking for a low-price- in which case I suggest you drop em' like a bad habit. Why? Because price shoppers make very bad customers.

Ever hear the phrase, "if they come to you based on price, they'll leave you based on price"? It's true.
Price shoppers don't make loyal customers or clients. They tend to complain a lot. They brag to their friends that they paid next to nothing for what you sold them. It's not good for business.

You have two options when someone calls your business and asks the price question.You can either:

1) Educate them on how to judge what you sell based on things other than price.
2) Or, you can drop em' like a hot rock and move on to bigger fish.

The choice is yours.

Speaking of Choices

I suggest you price whatever you sell on the high side. If you deliver more value (which you'll have to do if your prices are higher than the norm), then you'll be perceived as a "better business". This perception will attract quality clients. Why be the low-price bottom feeder when it's just as easy as being a higher price (and better quality) business?

And Another Thing

Remember the characteristics that make low-price shoppers bad clients? The opposite applies to clients  that are willing to pay more. Nine times out of ten, "value shoppers" are fun to work with. They appreciate the hard work you put into delivering your product or service. They also have a tendency to refer their friends, family and work associates. Talk about hitting the jackpot. You go from selling to troublesome "price-only-matters" customers to closing deals with good quality folks who value what you do and make your business much more fun.

The choice seems obvious: Sell based on value to those looking for value.
 
 

By Wesley B. Murph
Photography by  Jan Pietruszka



Wesley Murph is the author of "The Little Black Book of Small Business Marketing Secrets: 10 Proven Ways to Add New Customers, Repeat Sales and Referrals to Any Small Business!" which includes a campaign he wrote for a client that pulled a whopping 35.7% response to an ice-cold list. And even though Wesley rarely accepts new clients, you can get more tips like the one you just read by going to http://www.TheMarketingManiac.net.
 

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3 comments:

  1. Thanks for the post....it makes more sense in fewer words than any I have read recently on price shoppers. I love the focus on 'value' shoppers too. Seems to be a no brainer....value shoppers appreciate value, and refer their friends.

    Great post!

    ReplyDelete
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