How to reply to “That’s too expensive!”

Value-Based-Selling

If you have been in business a while, you’ve probably heard things like, “You’re too expensive!” or something along those lines.

How do you respond to that??? After all, you have spent time figuring out the value of your items, what your time is worth, and current market trends to make sure your pricing is exactly where it needs to be.

Here are a few alternatives to “Well, ok. Thanks for your time.” because with that kind of response, you just guaranteed the loss of your sale.

Option 1-
Educate the buyer on the value of their investment.

Hey _______!

I realize this seems like a large investment, but I can assure you that I am delivering a top-notch product that you won’t

I realize this seems like a large investment, but I can assure you that I am delivering a top-notch product that you won’t receive with a low-cost alternative. My clients have seen the difference between (your product) and the alternative because I work with you to really make sure you’re receiving a product you love. I am not just selling you a (generic term for the item), you are investing in a quality (specific term for your product) to make yourself stand out among the rest.

If you don’t have the funds available at this time, I understand. Please keep me in mind for the future. If you are able and willing to invest at this time, let me know and I’ll be more than happy to find you exactly what you are looking for. 

Thanks!
-Your name

Why this works:
You acknowledge the cost of your product, but assure the client that you’re offering a great product. You explain why the cost is accurate for the product by giving an example of how the product will benefit him/her. In the end, you are giving the client the option to walk away, but you are not backing down on your pricing, indicating that you have made sure your pricing matches the value of the product.

Option 2-
Offer a little less.

Hey _____!

I realize this is a large investment, so working with your budget I have come up with this alternate option. You’re still receiving a quality product without the higher price tag of the original item, so you can stay in your budget. This will still give you something you can be proud to show off until you are ready and able to make the investment for (high priced item)!

Thanks!
-Your name

Why this works:
You acknowledge the cost of your product, but don’t back down from your pricing. Instead, you are offering an alternative that still meets your customer’s needs while removing the things that make the original item cost more, but doesn’t change the value of their purchase.

Option 3-
Ditch the customer, She’ll haggle every purchase anyhow

Hey_____!

I realize this is a large investment and it sounds like funding isn’t currently available for this item. I completely understand that this is more than you budgeted for, and that purchasing from me right now may not be the best option for you. 

If, in the future, funding becomes available, please do not hesitate to reach out so that we can get you the product you really want.

Thanks!
-Your name

Why this works:
You acknowledge the cost of your product, and you don’t back down. You let the customer know that if she’s ready to invest in the future, you’re ready to help her. Staying firm on your pricing tells clients that your product is worth what you’re asking.

These scripts are simple and to-the-point, and make it clear that you are not willing to haggle on your pricing. Standing firm re-enforces the value you provide.

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