What do you do when a customer clearly thinks your price is way too high? As you’ll see in the video, the key to soothing a client’s worries about price comes down to creating customer perceived value – that is, showing them that you are essential to solving whatever problem they are experiencing.
Every customer has a problem. That’s why they come to you -- to look for a solution. The more you can get the customer to think about their problem and the more you can amplify its significance in their minds, the more customer perceived value you will create.
This is the key to overcoming customer fears. You do it not by twisting their arm, and certainly never by lowering your price. You allay their fears by getting them to understand the role that you and your product or service can play in solving their problem. It’s never the case that your price is way too high. If you can solve the problem at hand, the price will become irrelevant because it will save them money in the long run.
So, how do you get the customer to focus on the problem? How do you create customer perceived value? You can start by asking them how long they’ve been having their problem and by showing them how much money they can save by solving it. If you can do this, customers won’t be able to say, “Your price is way to high,” because they will know that the solution is worth every penny.
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