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HOW TO TALK ABOUT PRICE WITH YOUR CUSTOMERS?

Talking about pricing is as important to customer communication as talking about the superior features of your product or the benefits of your services. Price matters - no matter how great your product or service is, if it's out of budget, there's nothing you can do with it.

A price, probably, is one of the points, that your potential client thinks mostly. When somebody listens about the benefits of working with you, there may be a concern - I'm ok with it, but won't it cost more than I can afford?

In this article, we will explore the following questions:

Why is it important and necessary to talk about money with clients? What might make it difficult for many of us to talk about price? Few tips and tricks to help you talk about price with confidence.

Buying decisions are influenced by many factors, among them: psychological, social and economic. All these factors should be taken into account by sales specialists to prepare the buyer for a possible price change.

Not everyone is comfortable talking about the price, especially if you had to raise it and you do not know how your client will react. The difficulty lies in the expectation of a negative reaction and the inability to correctly argue the price set. Many have to be flexible on this issue. Especially if you are afraid of losing a client and do not want him to doubt his choice.

The ultimate goal of any company is to increase customer loyalty. The buyer must know why the price change occurred. You need to be persuasive and gain credibility. Be open and honest with your customers, and show that you are in their interests. This will help make your relationship long-term and beneficial for both parties.

Transparency is a sign that you value your customers. This way you prove that you have nothing to hide to win the trust of the client. Even if your prices change, customers will not stop trusting your company and this will not allow them to doubt their choice.

Be persuasive when talking about your product or service. You have probably heard more than once how sellers speak uncertainly about a product and its price. They lower their voice, speak quickly, and mutter the price in the hope that you won't hear it. Such desperate attempts to sell end in complete failure. If you have already taken up the sale - you should not doubt that you are offering a good deal.

Just like you plan your business, your customers plan their lives. A customer who suddenly finds out about a price increase may be frightened and angry. To avoid this, you should review your list of customers, make sure they are notified of the price increase, and then, if possible, send an email thanking them for their loyalty. This will help personalize the relationship with the client.

If you have a lot of personal interactions and touch points with your clients, a more personalized approach, like a face-to-face meeting, may be appropriate. But if you have a large database of thousands of clients that you communicate with via email, a simple email might be the best way to go.

Do customers often leave when they hear the price? If the quality of your product is unquestionable, price sensitivity is most likely to blame, or in other words, your customers perceive the price as a major buying factor. Price sensitivity should not be overlooked. Previously, we wrote about tips to help increase sales by reducing sensitivity.

It is important to be one step ahead when you plan to change prices. When you communicate information about a product to customers, be specific in your statements - let them know exactly how much they will pay and how the product will meet their needs.

Talk about how, by maintaining a positive return, you can spend more time on research that helps make the product better and constantly work on improving it.

Pricing is a powerful marketing tool. Instead of shying away from price discussions or avoiding the topic altogether, capitalize on demonstrating high value to your customers from purchasing your products and services.

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