What do you say when they say you’re “too expensive?”
If there’s one thing many kitchen and bath professionals dread, it’s price objections.
They shouldn’t. Questions about price are buying signals. Prospects must be at least somewhat interested in your cabinets to ask about their cost.
Often, they aren’t looking for the best price. They’re looking for the best solution to their design problems.
Price negotiations are no time for original thought.
That’s why you should memorize and share, at a moment’s notice, a list of reasons why you’re worth your design or consultation fee, margin, mark up, etc.
Fee “justifiers” can include things like your…
+ Design specialties and expertise
+ Awards and other recognition
+ Clients: who you’ve served, and how
Another way to justify your fee: Explain how you save your clients time, money and headaches, etc.
Keep the following ideas in mind the next time you talk price with a prospect:
+ You can set and get any fee if you can differentiate yourself from competitors who charge less.
+ It doesn’t matter what you say about your prices. What matters is what you say about yourself. How you charge is less important than how you promote yourself.
+ If a prospect says you’re “too expensive,” she means that you’re not a priority right now. Your mission: Educate her as to why investing in your service should be a priority.
+ If someone calls your rate “too high,” say: “Too high compared to whom? Too high compared to what?” Establish their price parameters.
+ Compare apples to apples. When you’re told a competitor’s bid is less than yours, make sure there’s a fair comparison of everything that both firms offer.
+ Share your “only.” Nothing justifies higher prices more than the phrase: “I’m the only window fashion professional in this area who…”
—Fred Berns, an interior design industry coach, is the author of the audio program “Overcoming Price Objections: How to Turn Price Bellyachers into Believers.”
This entry was posted on Tuesday, September 14th, 2010 at 6:00 AM and is filed under Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.