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By December 7, 2023No Comments

Out of desperation people were dropping their prices and devaluing their own workI was having a conversation with a good friend of mine, Kara, the other day. We were talking about the price war that is going on in business right now. That out of desperation people were dropping their prices and devaluing their own work no matter which industry you looked at. Between the tax man, cost of living crisis, and unsteady markets it can be easy to see what’s driving this desperation. 

But desperate doesn’t attract clients. In fact, confidence is what is needed right now. 

It reminded us of a time Kara responded to a price objection quite cheekily. When they asked if she could change her prices she responded with, “Of course, how much more would you like me to charge?”. And this is the confidence you need to have when it comes to the value of your work. 

Because there are 2 things you need to know about price objections. 

  1. It’s hardly ever about the money. It’s usually about the outcomes or the perceived value. So you need to figure out, is their problem urgent and how much is it truly costing them right now. Then you need to make it crystal clear exactly how the outcomes of your service solves their problem. If you have nailed your positioning this will have been achieved before they even reach out for your help. With the right positioning work they will know you are the expert, and they will know exactly why you charge the way that you do. So if you are receiving price objections consistently, or you are waiting forever for proposals to get signed off this is your sign to start working on your positioning. You have a voice, it’s time to get it heard. 
  2. If it really is about the price DO NOT lower your prices or offer a discount. What you need to do is get a clear idea of the budget the client is working with and then ask them what they would like removed in order to fit their budget. At this point, the people who were simply asking to see if they could get it cheaper tend to backpedal. And those who really are working on a tight budget will continue an open conversation with you about what can fit their budget. Lowering your prices just discounts your worth. Remember you have years of experience behind you. You are an asset. Act like one. 

At the end of the day, the clients who really want to work with, who see your worth, will be okay with paying a premium price range for a premium service. 

You just need the confidence and conviction to charge what you are worth. Once people have gotten the confidence and the positioning right I’ve told them to double their prices. And do you want to know what happened? With almost no objections they doubled the revenue. Charging your worth, dealing with objections, and creating an impact really can be that easy.  

So if you want to work with me on developing the positioning that is going to have you impacting more people, and closing faster then why not book a call. 

It’s time to elevate your business and your pricing. 

Janine x

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