I have this problem a lot because price is often the first thing on my customer’s minds. Whenever I write a proposal for a project, my dilemma is whether I am giving the right price. Is it too expensive? Can they (our client) afford it? What can we do to make them engage our business?
Besides, it is a very common situation for my potential clients to show me their large scope of work by saying “my budget is limited” or “I haven’t decided on my budget yet.”
Have you had the same experiences? It is important that you never lower your fees.
There are a lot of rules in sales, but one thing for sure: If you solely focus on price when selling products or services, so will your customer.
Make sure that your customers know what they are getting (the VALUE) for the dollars they’re investing. Sell your VALUE! Never apologize for the price of your products/services.
No one seeks the cheapest heart surgeon, pay a cut-rate price for a top of the line Mercedes, a Rolex watch, or Manalo Blahnik shoes. They’d doubt the authenticity if the price were markedly lower than what we normally associate with that level of quality.
I learn it the hard way in the early years of our practice. If you don’t get what you supposed to get, then it is a bad business. Bad business will only do bad things to your business!
In closing, I want to quote from my favorite writer who is also a very successful consultant: “You deserve your fees in return for the value you are providing. If you don’t perceive your own value, you will never demand high fees. The sales start with you.” – Alan Weiss, Author of Million Dollar Consulting