Why you should never answer the price question… with the price
When someone asks you the price question I have one piece of advice for you.
Never answer it with the price.
Ok, so that may sound a little weird but bear with me.
The trouble is that when you’re sat in your meeting with your existing or prospective client and you’ve revealed your solution then that’s the question they will ask. It’s obvious. But your answer, your price, will always sound expensive.
So you have to do things a little differently.
If you prefer to watch rather than read you can watch the video here.
Communicate the value
Instead of revealing that price early in the conversation you have to first build up the value. That means properly communicating both the value of what you do, the benefit to the consumer and the end result. You need to set that all up before you even thing about revealing the price.
Go for contrast
Another useful tool is the Contrast Principle. This means not revealing the price before you’ve created some contrast first.
Price psychologists tell us we are clueless about price. We don’t know the price of anything. And that means we are unable to judge. There is no science behind it.
Instead when you reveal a price a customer compares that with something else to see if it seems like the right price or not.
The trouble is that without using the Contrast Principle that seems expensive. So don’t rush in with the price. Instead, build up the value and create some contrast. And then give your price.
You’ll notice the difference in the reaction you get.
Every month I provide free online training helping accounting professionals get results from value pricing. If you want to get access to that free training click here to register your place on the list of people I invite.
Wishing you every success on your pricing journey
Chartered Accountant, public speaker and #1 best-selling author of
“Effective Pricing for Accountants”
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