Are You Too Expensive?

"You're too expensive."

If your customer says this, one of three things have happened:

👉 You didn't ask enough questions, so you weren't able to demonstrate your value (and thus justify the higher price).
👉 The competition came in after you, and undercut you (and since you didn't demonstrate value, this tactic worked)
👉 You really ARE too expensive, and/or the customer doesn't need all your bells and whistles.

If the third is true, it's probably time to walk away and move on to greener pastures, especially if you can't offer a product that has less bells and whistles.

BUT, if it's one of the first two, there is still hope. You have a lot of back-tracking to do, but it can be done.

I remember one time, I interviewed the Director of Technology and Biomed Services at a huge hospital chain, for my podcast, and he said one of the biggest mistakes sales reps make is assuming that he wants them to be the cheapest. He understood that value can be worth more than price, but as the sales rep, you have to prove that to the customer.

The key is asking QUESTIONS! And of course, never interrupting as they're sharing. Oh, and don't negotiate over email!! This seems obvious, but is done way too often.