The Only Question To Ask When You Encounter Price Resistance
It’s inevitable! No matter what you sell or who you sell to occasionally you will run up against price resistance. “Your price is too high” or, “Sorry, that’s not in the budget right now.”
The list really goes on and on.
But it’s not the “occasions” that should worry you most. Like I said, if you are working hard odds are you will run up against some obstacles. But if it keeps happening; if you keep hearing over and over again, that your price is too high, what can you do?
Let’s assume that you are unique. Let’s assume that no where else can anyone get the combination of YOU along with your product or service. We really all do fit into this category. I mean come on, unless the prospect is really thirsty, has one dollar in his pocket and is staring at two identical soda machines. One 50 cents a can, the other a buck- the 50 cent machine will win every time. But that’s not you- you’re not a soda machine!
What you have is unique in the fact that it solves a problem for your prospects and clients. What you have helps them enjoy a more fulfilled life in some way. Here’s example of what I call the “unique attitude.” And truthfully, it’s the attitude that really comes first…
Yeah, there are a ton of marketing consultants out there, a bunch of copywriters. But no where else on this earth is there a guy named Mike Dolpies who is both a small business marketing consultant and a direct response copywriter.
Above is an overly simplistic example of the unique attitude you must cultivate. Of course there are other items on the list that make my experience, knowledge, expertise and ability unique to me. And those are very important to a perspective client too. But here’s the thing…
And then we’ll get to the price resistance and the question to ask…
What you have is not commoditized even if it is!
Huh?? What I mean is that even when someone else sells what you sell or markets what you market, you can still command higher prices if you ask for them and build real and perceived value.
Didn’t J. Peterman, you know the guy that was portrayed in the hit show “Seinfeld,” just sell sport jackets, shoes and other items that could’ve been purchased anywhere? He did, but the unique story and the fact that it was a “J. Peterman” was what made it successful. As an aside, I heard that he did well up until he tried to grow via “brick and mortar” stores. Anyway…
There’s a very strong argument for you to go for premium pricing. Yes, even in a recession! A better price gives you more flexibility to market and as long as you deliver, every one really does win.
So the question to ask yourself when you keep running into price resistance is simple…
What can I do to build more value into my presentation? And it can go further… What better words can I use to educate my prospects and clients about what it is that I do for them?
The fact is that you need a “system” for turning leads into paying clients. And that system must be constantly looked at and tweaked when it’s not performing at capacity!
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