We tend to see price as a measure of the value of the solution. A bottle of water in a supermarket is seen as a commodity that can be compared against other similar establishments. A bottle of water in the desert has a completely different perspective placed upon it.

So, what can you say when a customer baulks at your price? Well, first of all, remember it’s your responsibility to ensure the customer sees the value in what you are offering, based on the solution they are facing. If you haven’t built up the value, then ANY price could be seen as too high.

Now, are there some tried and tested methods of dealing with it? Let’s see how we can deal with the customer comment of ‘your price is too high’.

1) ‘We’ve learned over time that our customers are looking for quality, service and low investment. We’ve also learned that it’s not possible to offer all three at once, and we have made the conscious decision to concentrate on great quality and great back-up service. We want to ensure the long-term satisfaction of our customers is not put at risk.’

2) ‘Do you mean price or cost? What I mean by that is, price is the sticker price, whereas cost is the long-term investment in the product. Our products require lower maintenance, which saves time in the long-run. You may find lower prices, but we doubt if you can find lower cost.’

3) ‘May I ask if price is your only consideration? Is your decision based solely on price? If so, I’m not sure if our products will be the best option for you. If there are other criteria you are going to judge it by, maybe we can discuss those.’

4) ‘We are fair with our customers at all stages, and we set our prices competitively right from the start. May I ask what you’re comparing us against?’

5) ‘I understand why you may think that. Can we discuss a pricing option that I think might work for you?’

6) ‘We have deliberately set our pricing structure out so we can provide the best quality and the best back up service. Is that just as important to you as the price?’

7) ‘We often find that if we as a company buy cheap, we also buy risk. We wouldn’t want to put that risk on you by providing cheaper products that might not be up to the overall job we’ve been discussing.’

8) You’ve mentioned the price, Mr Customer. Other than that, is there anything else that concerns you about the product?’

9) ‘Let’s consider the total cost of ownership for a moment and see whether the price is, in fact, really worthwhile when we consider what savings you may be able not achieve.’

10) ‘You may have heard we are higher than our competitors, but our customers have given us top marks on quality, warranties and back-up services. They find these things matter more to them that the upfront price, as it means less maintenance and greater productivity in the long run. I can give you details of other customers who have used our products so you can discuss with them what results they’ve achieved, if you like?’

Remember…most of these responses may sound a little trite if said in a patronising tone, so do not try to be clever here. Nothing can replace the building up of value in the customer’s eyes before discussing price. You need to have built up the value before even mentioning price, so the customer feels they are actually receiving greater value than what they are paying for.

Happy Selling!