I was having a chat with a client a while ago, and the same conversation played out, I am used to hearing this, just like you are too (if you are a business owner) – “ah that’s too high “; for me, it’s either I don’t respond anymore or I just smile it over or better still find a polite way to handle it.
It could sound offensive when they say this, just because of the notions and ideas they have of the industry they assume your charges should be on a particular level with the other business owners.
How do they judge and weigh prices ?
Price is weighed by value. Your clients believe value should be higher than the price, therefore when it goes or appears to be the other way round in their eyes they conclude it is too expensive. But remember, the way people attach value to things are different and unique to them.
A good advice is that if you are charging a price, let the value of the product or service match it considerably. Part of what your clients will look at before weighing the value and price are – the look or appearance of your office and you personally. If these things look good, great and levels up with the amount you are charging, they may consider or find a way to subtly opt out to look for cheaper option.
What about when you don’t have an office, they base their judgements on certain physical things get can attach to you like, your social media handles, business cards, phone etiquette, website, other customers’ review or experience.
Making profit doesn’t mean you should hike up prices. Remember your client or potential client has lots of options to check and compare. All the same. This does not mean you should play yourself down. We all offer similar services but not in the same way. I know the worth of what I am offering, so when I am charging I can defend it will be different from my competitors or other people.
If your clients have never complained you are charging too high, take it- your charges are low. And naturally, they will keep negotiating to drop the prices down. This is one of the reasons you should not drop prices anyhow, the customer you reduce price for will most likely get other customers who will keep dropping your prices.
If your customers are comparing you with A or B or C – simply explain why you charge higher than them. If they are not convinced, they can move on and you can too. You will find clients that will pay, and they will attract their kind too.
Avoid Them And Move On – when you don’t have an answer, move past it fast. You should not waste time explaining when you do not want to. Not every case needs explanation. Your no is no and yes is yes sometimes in business.
Knowing their budget could help – I personally do this a lot. To avoid misunderstandings between clients and I. Asking them what they can afford gives me a perfect picture of how to play around the prices. And this helps me clear the air on how their budget relates with what is needed to finish their works.
Some clients feel you are too expensive because they do not want to pay. Be careful in spotting people like this.. they are the ones that will cause trouble after their job is delivered. All because they do not want to pay.
Clients who insist on cheap will be cheap. – instead of wasting time to convince them, look for the ones that will appreciate you. And stay your line
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