![\"illustration](\"https://mercurylabsmarketing.com/wp-content/uploads/2024/06/Empathy-and-inquiry.webp\")
Picture this first, you’ve just finished a detailed presentation to a potential B2B client, showcasing the full suite of services your company offers. You\u2019ve covered all the bases\u2014features, benefits, ROI projections, and more. And then, it happens. The client leans back and says, \u201cYour services are too expensive.\u201d It feels like a gut punch, doesn\u2019t it?
\n\n\n\nIt\u2019s a bit like being \u201cfriend-zoned\u201d by your love interest\u2014it stings, it\u2019s frustrating, and you might just want to walk away and never look back. In fact, my advice ten years ago would have been exactly that: walk away, move on, there are plenty of fish in the sea. Throw in a \u201ctheir loss, not mine\u201d for good measure. But with a decade\u2019s worth of experience in sales, marketing, generating leads, and relationship-building under my belt, I\u2019ve learned that it\u2019s rarely that simple. Years of trial and error have taught me that those seemingly brutal words are not the end of the conversation\u2014they\u2019re just the beginning of an opportunity to showcase your value. So in this blog, let\u2019s dive into what I\u2019ve learned and how you can turn this situation around.
\n\n\nBefore you leap to defense mode, take a moment to understand where the client is coming from. They might be dealing with budget constraints, comparing your offer to cheaper alternatives, or simply not fully appreciating the value you provide.
\n\n\n\nStart by asking questions to get a clearer picture of their needs and the real reasons behind the price objection.
\n\n\n\nShow that you\u2019re genuinely interested in helping them find a solution, not just making a sale.
\n\n\n\nFor example:
\n\n\n\nOnce you have a clearer understanding of your client’s perspective, you can effectively highlight the value your solution brings.
\n\n\n\nLearn the 7 things to say to prospects when considering other options.
\n\n\n\nIn B2B transactions, the focus should be on the long-term value and ROI rather than the upfront cost. So, when faced with the \u201ctoo expensive\u201d objection, it\u2019s easy to get defensive and start justifying your costs.
\n\n\n\nBut instead of focusing on the price, you should shift the conversation to the value you offer. Explain how your product or service addresses their pain points and brings unique benefits they won\u2019t find elsewhere.
\n\n\n\nFor example:
\n\n\n\n![\"image](\"https://mercurylabsmarketing.com/wp-content/uploads/2024/06/Highlight-the-Value-Not-Just-the-Price.webp\")
To further clarify your value proposition, it\u2019s also helpful to break down the costs and offer transparency.
\n\n\n\nFind out how to have a better sales conversion by using these 3 levels of pain points.
\n\n\n\nTransparency in your pricing model can build trust and clarify the value. You see, B2B clients often perceive a service as expensive because they don\u2019t understand what goes into the pricing. Break down the cost structure and explain the elements that contribute to the price.
\n\n\n\nFor example:
\n\n\n\n![\"image](\"https://mercurylabsmarketing.com/wp-content/uploads/2024/06/Break-Down-the-Costs-and-Offer-Transparency.webp\")
However, in some cases, the best response to a price objection is to not engage in a lengthy justification.
\n\n\n\nYes, exactly what I would have said 10 years ago. But why? Because whether you like it or not, there are really times when you don\u2019t have to defend yourself, or in this case, your price. When you\u2019re in a position where you\u2019re filled to the brim with other clients (who don\u2019t complain), it\u2019s better to use your energy on them than waste it engaging with people like this.
\n\n\n\nIn this case, just thank the client for considering your company and tell them you were glad to have helped them. Never apologize for your price and stay connected with these prospects. We\u2019ll never know when they change their minds and vacate your company. Don\u2019t stop nurturing them and keep them interested always. Send them some digital downloads like your case studies or white papers. That\u2019ll make him/her think twice.
\n\n\n\nIf ignoring the objection isn\u2019t an option, offering customization and flexibility can be a compelling strategy.
\n\n\n\nRelated: Understanding B2B Lead Generation Pricing
\n\n\n\nYou see, B2B clients often have diverse needs and varying budgets. So, if budget is a genuine concern, consider offering flexible payment plans or alternative options that provide value while fitting their budget. This shows you\u2019re willing to work with them and helps build trust.
\n\n\n\nFor example:
\n\n\n\n![\"graphics](\"https://mercurylabsmarketing.com/wp-content/uploads/2024/06/Offer-Flexible-Solutions.webp\")
On the other hand, there are times when acknowledging the price concern and standing by your pricing can be powerful. At this point, you might also consider admitting it while sounding proud.
\n\n\n\nSay;
\n\n\n\n![\"image](\"https://mercurylabsmarketing.com/wp-content/uploads/2024/06/Admit-It-and-Sound-Proud.png\")
Then proceed to explain in detail the kind of software or technology behind the product or service, the amount of work or the extraordinary skills required to come up with your special kind of product, or the amount of time it took to develop the product.
\n\n\n\nSome clients will be enlightened, some will even be ashamed of themselves, while others will not budge. But you\u2019ve sent the message \u2013 you get what you pay for.
\n\n\n\nAt times, it’s beneficial to shift the focus back to the client with a strategic question.
\n\n\n\nLearn the 5 qualifying questions to ask your prospects.
\n\n\n\nThis brilliant counter-move should put the assertive-bordering-on-aggressive client on the retreat. Follow up by saying, \u201cExpensive compared to what?\u201d
\n\n\n\nMake sure your tone is genuine, curious, and not aggressive. The last thing you want to do is alienate the client or create an air of animosity. Trying to put things in perspective will give the client an opportunity to justify himself, and you, the opportunity to know whether the client knows what he\u2019s talking about.
\n\n\n\nWhy is this important? Because this is the phase where you decide whether to pursue the client or not, and it depends on the client\u2019s answers.
\n\n\n\nIf the client honestly doesn\u2019t know the cost you have a chance to explain why the price they\u2019re paying you is worth the investment. If it\u2019s $5000, compare it to something of a similar value but with less or without ROI, like buying a big bike or a used car, both of which depreciate over time. Your product, meanwhile, alleviates a pain point and has a huge potential to have a high ROI.
\n\n\n\n![\"\"](\"https://mercurylabsmarketing.com/wp-content/uploads/2024/06/Responding-what-makes-you-say-that.webp\")
If the client has done his research, asked around, and happened to compare you with a cheaper company, then you have another opportunity to emphasize your value. Explain why your rates are higher \u2013 you shouldn\u2019t have trouble doing that. And don\u2019t forget to remind the client why he called you even when he\u2019d been quoted a cheaper rate before.
\n\n\n\n![\"illustration](\"https://mercurylabsmarketing.com/wp-content/uploads/2024/06/client-found-cheaper-rate.webp\")
If the client is just using the \u201cyou\u2019re too expensive\u201d card as an excuse because he\u2019s not yet ready to buy, perhaps you can offer a limited-time-only promo or something to make him reconsider.
\n\n\n\n![\"image](\"https://mercurylabsmarketing.com/wp-content/uploads/2024/06/Client-reconsidering-promo.webp\")
The bottom line is asking \u201cExpensive compared to what?\u201d will open doors for you and potentially tilt the scales in your favor, and even lead to a sale.
\n\n\n\nJust like what I said earlier, sometimes, clients need a little reassurance that they\u2019re making a good investment. Share testimonials or case studies that highlight the success other clients have achieved with your product or service.
\n\n\n\nFor example:
\n\n\n\n![\"illustration](\"https://mercurylabsmarketing.com/wp-content/uploads/2024/06/Share-Stories-and-Testimonials.webp\")
Moving forward, consider engaging the client with thoughtful questions to better understand their stance and potential needs.
\n\n\n\nRegardless of the response, it\u2019s essential to maintain a professional perspective and not take price objections personally.
\n\n\n\nEvery time you\u2019re in a position where clients say your product is too expensive, don\u2019t take it personally. Remember, most buyers have a linear way of seeing and understanding value: it\u2019s a good or great price when the perceived value is higher than the amount they pay for it, and it\u2019s too expensive when the amount they have to pay outweighs the perceived value.
\n\n\n\nIf it\u2019s any consolation, think that if you\u2019ve never had clients telling you that you\u2019re too expensive, you\u2019re probably not charging enough.
\n\n\n\nMoving forward, consider engaging the client with thoughtful questions to better understand their stance and potential needs.
\n\n\n\nEngage the client in a meaningful conversation by asking insightful questions that reveal their underlying concerns and provide an opportunity for further discussion.
\n\n\n\nFor example:
\n\n\n\n![\"graphics](\"https://mercurylabsmarketing.com/wp-content/uploads/2024/06/Handle-Objections-with-Insightful-Questions.png\")
Discover more about handling sales objection.
\n\n\n\nYou see, being told \u201cYou\u2019re too expensive\u201d is not a dead end but a chance to educate and demonstrate the true value of what you offer. By understanding your client\u2019s perspective, communicating the unique benefits you provide, and offering flexible solutions, you can turn a potential rejection into a positive, value-driven conversation.
\n\n\n\nRemember, the goal is not just to make a sale but to build a lasting relationship based on trust and mutual benefit. And sometimes, that means walking away with dignity, knowing you\u2019ve planted a seed for future opportunities.
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