Ivelisse McBride There will always be a client who thinks that you are too expensive. It is a given fact no matter what industry you are in. A common response would be to get offended. Truthfully, in some instances, clients may think this way because of some preconceived notion of what they think your service is worth. Negotiating can sometimes be a natural response, but sometimes there may be a hidden meaning when it comes to them mentioning your “high prices.”
Some people see value in two different ways:
- It has a great price because the value is greater than the fee.
- It is too expensive because the fee is greater than the potential value.
Now, is there a chance that your prices are too high? Absolutely! Some businesses take a while to figure out a price/value balance that works for them. New business owners may sometimes be in a rush to make a lot of money that they do charge too much when their skill level is still low. What you charge must coincide with the level of service that you are offering. On the other hand, if you have never had a client tell you that you charge too much, odds are you are not charging enough.
So, let us say you just received your first “too expensive” client. Your immediate response may be to lower your prices. The problem with this is, if you start off giving a discounted price for your service, this client will then believe that they can negotiate the price every time. It is important to hear them out but also be ready to stand your ground.
Below are four responses you can give to this client.
Response #1: Get comparisons.
Sometimes a client will reach out to several similar businesses to find the best price, and that is ok! I always encourage my clients to look at other businesses. If you are confident in the service you provide, having them search at other businesses may solidify that for them quickly. You cannot control what others are charging, but you can control your level of service. If they do choose a cheaper competitor, let it go and search for clients that also see your value.
Response #2: Ignore it.
Yes, I know! Easier said than done. If you are an established business and have plenty of work flowing, go for it and tell them to find someone else. In my opinion, if a client is a headache overpricing, they are most likely to be a headache to work with in general. Those are the kind of people I am ok just letting go of.
Response #3: Ask them for their budget.
Above, we discussed ignoring if you are a business that already has a nice workload. This one is more for those who desperately need a client…or would really like more clients. When I first started in business and even now during my slow time, I always ask for someone’s budget if they are hesitant about my price. A friend of mine, who is also a business owner, once told me that discounted prices and repeat clients are worth more than no clients. Sometimes a discounted something is much better than discounted nothing.
Response #4: Do they really need your service?
What easier way of getting out of spending any money than questioning someone’s pricing and let them decide for you? If a client is undecided about what they want to do or how they want to proceed, there is no easier out than blaming the price. This is ok and truly has nothing to do with you as a business owner. If you believe that this may be one of the clients you are dealing with, kindly tell them to reach back out to you when they are ready. There is no need to get offensive and burn a bridge that may still bring you in some money…just not at this moment. Therefore, our response makes the difference when dealing with these clients.
If a client insists on getting work done for cheap, they will always be cheap….period! Do not waste your time and energy with these clients. I stand firm behind the idea of finding your ideal client. This is usually visible within the first couple of minutes of meeting them; just trust your gut. You are a Rockstar. You started this business, so be confident about your pricing and your service, and you will attract the right client who is willing to pay big bucks for great service!
