So Your Customer Thinks You’re Too Expensive? Do This!

If your customer says, “You’re too expensive,” 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 how you're different, this tactic worked)
👉 You really ARE more expensive, and the customer truly doesn't need all your bells and whistles.

Cheaper isn't always better and customers know it. One time, I did a podcast with the Director of Technology and Biomed Services at a huge hospital chain, and he said one of the biggest mistakes sales reps make is assuming they HAVE to be the least expensive. He explained that sometimes the value a product brings is worth the extra cost, and customers do understand that you generally get what you pay for. Here's the trick: It's YOUR job to illustrate this to the customer.

Ask questions. Wait. Not just that. Ask the RIGHT questions and you'll be able to paint that picture for them that shows why your value is worth the extra cost.

What do you think? Let me know in the comments!