WHAT TO DO WHEN A CUSTOMER DOES NOT WANT TO PAY YOUR SELLING PRICE
The Customer might:
– TELL YOU THAT YOUR PRICES ARE TOO EXPENSIVE
– WANT TO NEGOTIATE THE PRICE (OR GET MORE ITEMS FOR THAT PRICE)
– COMPARE YOUR PRICE AND PRODUCT/SERVICE TO YOUR COMPETITORS
INSTEAD OF FEELING ANNOYED OR DISHEARTENED, LET YOUR CUSTOMER KNOW THEY ARE GETTING ‘VALUE FOR MONEY’.
Below are some examples to explain how your product/service offers ‘value for money’ to meet your customer’s individual needs:
- it is more useful/has user-friendly features/is technologically advanced.
- it is rare: a one-off opportunity/bespoke product or service/unique design.
- it is of a particular quality: handmade from a particular material/from a particular region/top of the range.
- it has a much longer life span/durability/guarantee period so it saves the customer time and money in the long-term.
- it is healthier: no additives or artificial flavours/helps the customer to lose weight/ environmentally friendly.
- it achieves a much quicker result/ increases success rates/provides more opportunities/increases capabilities or confidence.
- it has a money back guarantee or the customer can try before they buy.
- great after care support to ensure customer satisfaction after purchasing the product/service/great returns policy.
- great payment terms: payment plans to spread payments/hire purchase/pay less if paid by direct debit/lots of ways to pay..
- it will provide greater reassurance of comfort/safety/hygiene/protection for the customers or their loved ones.
- it will make the customer feel a particular way or enjoy a particular experience once they have the product/service.
- The customer can shop on-line, via phone or in store. They can use a variety of devices/apps, with a range of delivery options.
PROVE IT’S VALUE FOR MONEY!
Below are 4 clever ways that will prove your selling price is value for money and worth purchasing:
- Display testimonials from happy customers on your website/social media etc (these can be comments, pictures, videos, audio etc).
- Show how many of your products have already been sold at that price to similar customers and how many of the items you have left in stock (the fewer items remaining will create scarcity and the desire to buy before stocks run out).
- Ask satisfied customers to refer their friends, family or colleagues (an existing happy customer is your best brand ambassador, so make sure you reward them for bringing you new business).
- Do a demonstration with the customer to show them how your product/service works: let them sit in it, touch it, experience it firsthand and get them to tell you how it makes them feel. Make sure you answer any questions that they ask by target selling the benefits the customer wants, needs and desires.