Bargain buyers are a bone of contention for most small business owners.
These days, most people want to find a bargain. And you may well be a bargain hunter yourself. That’s great but how do YOU handle someone that balks at YOUR service fees?
The person who immediately says “let me think about it” as soon as you mention the cost of your service, has probably just had a shock. It’s likely they’ve not done their homework to see what the market is up to or they simply have an amount (lower than yours) they “wish” they could pay.
For some people, your cost will never be right, no matter how competitively priced you are. These are the folks that enjoy the buzz from negotiation. You must decide how much of that game you want to play.
For my potential clients, I offer a small range of price and options. At the top end, the most comprehensive package costs top dollar. As the options come off, so do the dollars. This menu of price and package fits ideally for my market and my business style.
Action – Two pieces of advice. First, never reduce your price without withdrawing some of the service package.
Second, every service offering can be packaged.
Create your menu and be ready and confident to handle the inevitable bargain hunters.
Nancy,
Great information!
I come from a sales and training background and I couldn’t agree more with the idea of giving something away, without taking something away. If you go to a price drop, without altering the package, the customer will question the value of what they’re getting. When they question the value, they also question the benefit, so they won’t be as committed to your presentation. It’s a lose/lose proposition.