Your client questions your product's pricing. How can you convince them of its value?

The first step is to understand exactly what the customer is looking for, are you providing a solution that is over engineered or has higher spec/functions that is really required. Usually that’s a good starting point, having an open and transparent dialogue and process with the customer does help too, so they understand what is the value that you’re really providing and what’s in it for them, sort and long term. Clearly articulating your proposition also helps a lot, making it easy for them to understand, so they can compare quotations and solutions. Lastly; understanding the client’s budget and needs from the beginning is crucial.

Highlighting Unique Features and Benefits Next, I focused on what makes our product stand out. I detailed the unique features and benefits of our digital marketing package that justified the pricing. For example, I explained how our advanced analytics tools provide deeper insights compared to competitors and shared case studies where clients saw significant ROI improvements. I showed them specific examples, such as how our tailored social media strategies helped another client increase their online engagement by 50%.

Rather than justifying your price... I would instead encourage everyone to condition their customer to pricing. In other words, assuming you're providing extraordinary value to your customer, what would they expect the product to cost? 99% of the time that answer is going to be higher than what it actually does cost. That way when you come back with actual pricing that is lower than what the perceived value is... You've created a no-brainer scenario for your customer.

Try to emphasize with USP, provide case studies or testimonials, highlight the return on investment, and compare it favorably to competitors' offerings to justify the pricing.

Fundamental essa discussão, quando um cliente questiona o valor do produto, é fundamental iniciar explicando os elementos que influenciam o custo. Pessoalmente, acho importante enfatizar a superioridade dos materiais utilizados, a tecnologia avançada envolvida ou a expertise aplicada na fabricação. Garanto ao cliente que o preço reflete o valor real que ele receberá, não apenas o custo de produção. Também considero crucial discutir os benefícios a longo prazo, como a durabilidade, o suporte pós-venda ou como o produto se destaca em relação às opções mais baratas disponíveis no mercado. Essa abordagem educa o cliente sobre o porquê do produto ser de alta qualidade e ajuda a compreender sua proposta de valor.

Comparing the product with competitors can also be effective. I highlighted how our service, although slightly more expensive, included additional features like 24/7 customer support and advanced analytics tools, which competitors did not offer. This comparison showed that the higher price was justified by the added value.

You do not want to be the lowest price in the market for the vast majority of products. Unless you are set up that way from the get-go, that is not a long-term recipe for success. What is far more bankable is extra value at minimal extra cost. Take Amazon for example. Are they the cheapest? Probably not. But are they the easiest to buy from? Absolutely! You see Amazon doesn't compete on price. They compete on value and you should try and do the same at all times.

Quando nossos clientes questionam o preço e compararam com concorrentes, de fato eu os incentivo a realizar uma análise mais abrangente. Neste momento eu aproveito para destacar que nosso preço reflete não só a tecnologia avançada, mas também benefícios a longo prazo como eficiência operacional e economias significativas. Menciono também nossos diversos cases de sucesso como prova concreta de nosso valor no mercado, ter clientes fiéis e que estão dispostos a falar bem do seu trabalho é uma fortaleza que não pode ser desperdiçada.

Especially in the modern era, your reputation is everything. Let me say that again..... Your reputation is everything. I can hop online and buy a windbreaker from 87 different companies... But I'm wearing a North face jacket because I've had good luck with them in the past. It's not the cheapest but it does exactly what I needed to do and it has for many years. If you're not treating your business as a customer success business.. then you are doomed

When a client questions your product's pricing, emphasize the value delivered through Customer Success. According to Harvard Business Review, companies that excel in Customer Success see a 20% increase in customer satisfaction and a 15% rise in retention rates. McKinsey & Company reports that a well-implemented Customer Success strategy can boost revenue by up to 30%. Demonstrate how your product enhances efficiency, reduces costs, and supports their growth. Showcase case studies and ROI data, reinforcing that your pricing reflects substantial long-term benefits and superior service.

Ao lidar com objeções de preço e comparações com concorrentes, eu instruo meu time a destacar os benefícios a longo prazo de nossa solução, como eficiência operacional e economias significativas. Usamos amplamente nossos cases de sucesso para demonstrar impactos reais em negócios semelhantes. Conseguir mostrar ao cliente como podemos impulsionar o ROI, melhorar o Customer Success e eleva as taxas de retenção são exemplos tangíveis e são fundamentais para demonstrar como nossa solução agrega valor à operação do cliente.

When a client questions your product's pricing, focus on demonstrating ROI. According to Bain & Company, companies that prioritize ROI in their sales approach achieve 25% higher growth rates. Highlight tangible benefits, such as cost savings and revenue increases. Gartner research shows that for every dollar invested in a well-integrated solution, companies can expect a return of $4.75. Use case studies and detailed financial projections to illustrate how your product drives efficiency and profitability, making the pricing a sound investment for long-term gains.

When a client questions your product's pricing, emphasize the tailored solutions it offers. According to Deloitte, 36% of companies see higher customer satisfaction with personalized services. McKinsey reports that tailored solutions can boost productivity by 20% and profitability by 15%. Highlight how your product is customized to address their unique challenges, delivering specific benefits and efficiencies. Showcase success stories where tailored approaches resulted in significant ROI, reinforcing that the personalized value justifies the investment.

Explain the ongoing support and services included with the purchase of your product. This could include technical support, training, maintenance, and updates. Emphasize that your commitment to customer satisfaction extends beyond the initial sale, ensuring they get the most out of their investment. Share your experience that many clients appreciate the peace of mind that comes with comprehensive support, making them more likely to view the product's price as fair and justified.

Flexible Payment Options Offering flexible payment options can ease the client's financial concerns. I suggested a phased payment plan that allowed them to spread the cost over several months, making the investment more manageable.

Sometimes you need to anticipate that your customer is not going to be able to afford your prime offer. I refer to this as having a "flex down". Think of this as something that still accomplishes the core goal of your customer but allows a reduced price. A great example of this is the show House Hunters. The real estate agent always starts off with a mansion that's over budget, Just to get people price conditioned to all of their goals cost and then once they realize they need to adjust to reality..... The agent finds a house that covers 90% of their wants but it's also within budget

In addition to the points above, consider offering a demonstration or trial period so clients can experience the value firsthand. This can be particularly effective in convincing skeptical clients. Additionally, maintaining a flexible pricing strategy that includes various payment options or financing plans can make your product more accessible and appealing. Finally, continuously gather and analyze feedback to ensure your product remains competitive and meets client needs, which will help justify its price in the long run.

Para convencer um cliente do valor do seu produto, destaque seus benefícios exclusivos, mostre estudos de caso e depoimentos que comprovem seu impacto positivo, e compare com a concorrência, enfatizando o custo-benefício. Ofereça uma demonstração ou teste gratuito para que o cliente experimente o valor diretamente.