Ever found yourself losing track of a potential deal because of a pricing chat? Trust me, you’re not alone! I still remember the first time I lost a six-figure opportunity simply because I panicked during a pricing discussion. Despite building rapport and clearly demonstrating the value of my offer, when the client hit me with, “This sounds fantastic, but it’s too expensive,” I froze. I got defensive, hurriedly offered discounts, and just like that, the deal slipped right through my fingers.
Let’s talk about handling similar situations, especially for business owners here in South Texas, from McAllen to surrounding areas. Pricing objections can feel like a wall, but they’re really opportunities to dig into your client’s needs and showcase your value. Let’s dive into how to approach these conversations so your business can thrive.
How to Tackle Pricing Discussions
When it comes to discussing pricing, the art is all in the framing. Avoid jumping straight into the numbers; instead, start by connecting emotionally with your potential client. Help them articulate their pain points and visualize what success looks like for them. Once you’ve co-created a clear picture of their return on investment, you can bring up pricing contextualized within that vision.
For instance, instead of saying, “Our services cost X amount,” try pivoting with, “Would it help if we discussed what an investment like this could look like?” This way, pricing becomes part of a larger conversation rather than a solitary figure to squabble over.
Timing Is Key
One of the biggest mistakes I see is entrepreneurs discussing pricing too early, often before the client truly understands the value of what’s offered. When you bring up pricing prematurely, you risk:
- Commoditizing your offering
- Shifting the focus from outcomes to costs
- Losing the opportunity to illustrate how the investment aligns with their business goals
In a local setting, better to keep the discussion focused on their unique challenges until you can comfortably introduce price. As they get clear about the impact of doing nothing, pricing naturally becomes a logical transition.
What to Do When They Bring It Up Early
If a prospect asks, “What does it cost?” before you’ve had a chance to fully dive in, here’s what I suggest:
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Acknowledge and pivot. Try a phrase like, “I’d love to get to that — but to make sure I provide the best price, can I learn more about your priorities?” This shows respect for their curiosity while keeping the conversation on track.
- Connect to outcomes. Mention that the investment can vary based on their needs: “Once we outline your goals, I can give you a figure that reflects the expected results.” Keeping the conversation framed around value maintains control and focus.
14 Ways to Address Price Objections
If you face pushback on your pricing, consider these adaptable responses. Tailor them to your style and practice a bit. When you lead with value, price conversations shift from confrontation to collaboration.
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“Too expensive compared to what?” Help them clarify their point of comparison, whether it’s competitors or alternatives.
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“How did you conclude that it’s too expensive?” This question invites them to share their reasoning, offering you a clearer understanding of their thoughts.
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“Are there any aspects we overlooked?” Giving them space leads to better insights and can often reveal hidden concerns.
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“What’s the cost of doing nothing?” Help them see the bigger picture by revealing the hidden costs associated with the status quo.
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“Is it a cash flow issue or a budget one?” Understanding the root can guide your negotiation.
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“Let’s brainstorm creative ways to fit this into your budget.” Work together to find solutions that work for both parties, like payment plans or breaking down costs.
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“If the price were right, would you be ready to move forward?” This isolates the pricing issue and helps you gauge their true motivations.
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“If this solved the problem you just shared, would it be worth it?” Reaffirm the value you bring to the table.
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“Is price the only thing that’s holding you back?” This opens the door to address other possible concerns they may have.
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“Be willing to walk away.” If you don’t feel desperate for the deal, you maintain a position of strength.
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“Have you purchased something similar before?” This gets to their experience and can provide a teaching moment if they’re unfamiliar with the value of your offering.
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“How much research have you done on typical investments in this market?” This can ground their expectations in reality.
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“I understand; I’ve worked with other clients who felt the same way…” Use case studies to show how investments paid off for businesses like theirs.
- [Silence] Sometimes, just giving them a moment to think can lead to them revealing their true feelings.
Closing the Deal the Right Way
When you approach pricing conversations with confidence and empathy, it transforms the process into something productive and even enjoyable. Remember, many potential clients already see value in meeting you — they’re just gauging whether the investment aligns with their needs.
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Source:
https://blog.hubspot.com/sales/price-objection-responses
