How to talk about pricing is a key subject when winning new clients.
Knowing how to tackle the pricing issue is a micro-science in its own right. This article will highlight some of the key points for you to consider when talking about pricing in your prospective client conversations.
Introducing Price at the Right Time
When we introduce price, bear in mind that at first, it would be the only thing that the prospect is trying to find out from you because at that point there is no relationship, no rapport, no empathy and no connection.
From the prospect’s point of view, they are thinking about the fact that they already have an accountant. You are another accountant and they cannot differentiate between the two. So the only way they can immediately make some kind of differentiation is in terms of price.
Since that's the way they are thinking, they will be pushing you for a price. Please do not give in to that pressure. There are ways and means to get around this and handle the situation. Most important is the need to employ the effective use of language, including the psychology involved in that.
There are two approaches you can use effectively to answer the question of pricing early in the conversation.
Continue reading “How to Talk About Pricing with a New Client”
A major challenge that we all face is the struggle to win new clients. It is important to know that you are not on your own in this. There is no silver bullet way of winning new clients but the question to ask is how do we stand the best chance of winning new clients?
We must understand and influence the laws of probability in our favour to win more clients than not win them.
So how can we combat lowballing against those competitors who offer a very poor service for a very cheap price? Here are the steps we can put in place to combat this problem.
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How To Discuss Pricing With Your Clients
I am going to deal with how to discuss pricing with your clients in two ways:
1) How do we deal with the price in a first meeting where the client asks you directly how much you cost and
2) How do we approach this when we meet with a client on the second meeting with a proposal to deliver.
At The First Meeting
The best way to deal with price in the first meeting is to simply not discuss it. At this point, we do not know what the prospect needs, we do not know what they are currently paying and we do not know what they can afford.
We do not have enough information to hand to be able to accurately set an expectation for the prospect at all. So this is why we need to delay the answer to that question and the way in which we can do that is by saying…
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