Explaining your value to your customers can be tricky and for some, can turn into an anxiety-ridden experience. Why? Because you are offering a great service which clients love but when it comes to pricing a slow head shake occurs followed by those dreaded words: “That’s too expensive” or “That’s way out of our budget”.
An immediate battle takes place in your mind: “Do I lower the price to keep the customer or do I stick to my value and risk losing a sale?”.
Fear not! Here at Poptop we have developed 5 ways to help out in these situations!
What does the client value?
In order to determine how to give your service value in the eyes of the client, you must first learn what they value. The best way to do this is to ask questions and listen carefully. For some, the most intricate details may be of greatest importance, for others, the bigger picture and some may be solely preoccupied with what is ‘trending’. By connecting to the client on a personal level to find out, not just their needs but also their wants, it enables you to provide a more valuable service to them.
Show your value
Next, it’s time to show clients how you can be of value to them using testimonials. Let your previous customers do the talking. Not only will this exhibit your service but will demonstrate how past clients have appreciated it: “Thanks so much to Joe and his team for their work at our event – it wouldn’t have been the same without them👍.” Asking your previous customers to give you a feedback helps to communicate your value, without having to self-promote. Especially now, when clients can add photos to their certified reviews at Poptop.
Make the connection
By really harnessing your communication skills and working with the client (check out our tips here), at this stage you can match your service with their needs. Creating a personalised bespoke service tailored to an individual brief is the best way to divert their focus from price and towards how your service can add value to their event.
There will always be at least one customer whose thoughts are price dominated so here’s two extra tips on how handle these situations, without devaluing yourself, or your business.
No Mates rates
Do not offer discounts as a result of a pressured sale. If you reduce your services at prices then reduce them in scope. By offering a discount in the first place you’re sending a message to the client: ‘My service isn’t worth the original price, there’s room for haggling’. There shouldn’t be. If a client is really wearing you down over price, then make it clear – you can pay less, but you will receive less. Above all, this will show your potential customer that you value the business yourself which will result in mutual respect regarding what is being requested and what is being offered.
If you are desperate for a sale, the chances are you will sound desperate to the customer. You must decide at this point if walking away from a deal is a better outcome than undervaluing your service and your company. As much as this decision would be at the business owner’s discretion, we say: stay firm.
P. S. Just in case – check out your prices again and compare them to the ones of competitors. Is it a possibility they are really too high? 🤔 Also, assume that clients are often just unaware of the standard costs for event services, so feel free to write more detailed price list — it will increase the relevance of requests you receive.