Why do customers claim your price is so expensive? They often fear paying too much, that they will be the only suckers. Is there anyone among us who hasn’t paid too much for something and then later found themselves regretting it? Social recognition – the assurance that many others have bought from you and are content – helps vanquish fears that they will make the wrong move.
People buy from the people from whom others buy. No one wants to go to a restaurant with a lot of empty seats – they choose well-frequented places with a pleasant buzz. Why? Because that must mean the food is good. Whether that’s really the case is an open question, but people are pack animals. We want what others want. We act like others act. We follow the same trends that others follow. There are of course exceptions, but 90% of people are followers. That’s why a very good way of overcoming price resistance is to mention other buyers (with their advance consent, of course).
Use of customer recommendations is an extremely powerful method. Do you have satisfied customers? Certainly you do. Get into contact with them and ask for positive comments about your service. Many will provide them. Write them down when you talk to them or have them send in the testimonials.
You don’t very many of them – just five or six recommendations and you have the entire arsenal for killing objections.
Putting it into practice, now:
“That price is high!”
“Mary, I understand we’re just a few dollars away from an agreement. But let me show you what my last new customers have said about our products, our company and me. These are all things that shouldn’t be overlooked because as you know, price is not the only purchase criterion.”
Gathering recommendations will always help you lift your spirits and find motivation if you read them. They will also help customers forget about their price resistance and doubts and fears about your asking price.
Don’t have references? Well, you can use the principle of social recognition instead.
“The price is high!”
“I feel you. It may seem high, but many of our customers have been in the same situation as you – on the fence about choosing us or not. Take companies A, B, C and D for example. You know these companies? … Very good. They also considered the price high and had the same kind of reaction as you did, but after they bought the product, they found the price was actually lower than others. It was thanks to the value that we offer and customer support we provide. Don’t worry, many have bought from us and are very satisfied. “I’m positive you will reach the same conclusion, too.”
The most ideal would be if you can show the customer visual proof that your customers speak highly of you. As they say, self-praise stinks but if someone speaks positively of you, people take it seriously. So contact your favorite customer right away and ask for positive references – it sells.