Price is Never a Real Objection – It’s Usually Just a Complaint

In a crowded market with many offers and competitors, we tend to hear a lot of: “Your price is too high,” “I have other offers with a better price,” and so on. But what if I told you that price is NOT a determining factor within a sales process, and it is usually a complaint more than an objection? 

When it comes to closing a deal, no single thing will make the deal fall through. So, if we treat the price as a complaint instead of an actual objection, various solutions will make this work for you –  instead of against you. 

Adding Value 

Price is relative and if a product or service provides unique features, superior quality, or exceptional customer service, customers are more likely to perceive it as valuable, justifying a higher price point. Businesses that focus on enhancing overall value, rather than simply lowering prices, can build stronger customer loyalty. As an example; 

  • ​​Surveyors are very guilty of lowering prices to get the job.
  • Equipment sellers of geospatial technology are guilty of not showcasing the difference in value between products in their portfolio and competitor products. 

How your brand is perceived in the marketplace

A company’s reputation plays a pivotal role in consumer decisions. Customers are willing to pay premium fees if they trust that your company has a reliable reputation. Survey brands that prioritize looking after their clients and are consistent in delivering on promises can establish trust, making customers less price-sensitive. 

If you are a survey brand, you probably don’t shout about your reputation. In fact, this might be something you haven’t even thought about, and educating the market is not a priority – therefore the consumer goes solely on price. Something to consider is the fact that even if other survey brands don’t do this, it doesn’t mean that you can’t. This can actually open doors to more caring and loyal customers. 

Unique selling propositionA strong USP can justify a higher price - Paola Mattos

A unique selling proposition, or USP, sets a product or service apart from its competitors. Whether it is a new technology, exclusive features, or a distinctive approach to customer service, a strong USP can justify a higher price. 

Remember it’s all about what makes your company, product, or service different to justify a higher price tag. 

Customer experience and support 

The overall customer experience can outweigh the price in a purchase decision. An easy buying process and responsive customer support is a great way to add value to your offer. Having a great and responsive team dedicated to a happy customer will not only be important when making an offer to a potential customer, but it will more likely mean that they will be a recurring customer. 

Be solution-oriented 

The focus must always be on the problem you are solving for your potential customer. Rather than focusing on the price, direct attention to the pain points you will be solving. Always emphasizing the value proposition will help shift the focus away from the cost.

In conclusion, while pricing undoubtedly plays a role in the consumer’s decision-making process, it is far from the only factor and should always be treated as a complaint. Surveying businesses that prioritize building value, maintaining a positive brand reputation, highlighting unique selling points, and delivering exceptional customer experiences will always beat the price tag.

Remember, successful sales are not solely determined by the number on the price tag but by the value add you will provide to the customer once the transaction is closed. 

Want to learn more or discuss how we can help your sales and marketing strategy? Schedule a meeting with me!