Welcome back to the Marketing Morsel, your weekly serving of business-boosting goodness! In our previous two posts, we covered the fundamentals of pricing and the importance of evolving your pricing as your business grows. But there’s one crucial aspect we haven’t tackled yet: how to actually talk about your prices with potential clients. 

Let’s face it: Pricing conversations can be nerve-wracking. You might worry about scaring off potential clients, underselling yourself, or getting caught in a haggling war. But fear not, because we’re here to equip you with the confidence and strategies to navigate these conversations with ease. 

Shift Your Mindset: From Cost to Investment 

The first step to mastering the pricing conversation is to shift your mindset. Instead of focusing on the cost of your services, frame them as an investment in your client’s success.  Link the outcomes (solutions) you provide directly to the pain points and consequences you have uncovered while speaking with them.  It is critical for pricing conversations to be two-way discussions.  It isn’t just about you stating a price and them saying yes or no.  It is about you understanding their current situation, building the connection between what they need and what you offer, and then showing them that you have the answer and the price doesn’t matter.  Remember, you have done all the work already to ensure you aren’t pricing yourself out of the market, so “cost” shouldn’t be a factor for them if they are your ideal client. 

It’s important to actively listen to your clients’ needs and tailor your message to address their specific pain points and desired outcomes. Remember, your clients aren’t just buying a service—they’re investing in the transformation, results, and value you bring to the table. By highlighting the positive outcomes they’ll achieve by working with you, you can reframe the conversation from one about cost to one about investment.  

Key Phrases to Use: 

  • “As you mentioned, you are looking to <insert desired outcome>. This investment will help you…” 
  • “By working together, you’ll be able to…” 
  • “The return on your investment will be…” 

Notice how these phrases focus on the client’s goals and the positive impact your services will have on their business. 

Break It Down: Bite-Sized Payments 

The initial price tag might seem daunting to some clients if you offer larger packages or retainers. To make your services more accessible and appealing, consider breaking down the total cost into smaller, more manageable payments. This can make the investment feel less overwhelming and demonstrate your flexibility. 

In addition, you should keep your prices at a perceived lower level. For example, psychologically, there is a big difference between $1000 and $950 when, in reality, it isn’t a big financial difference. 

Focus on Value, Not Just Price 

As discussed above, don’t just rattle off a number when discussing your prices. Take the time to highlight the value your clients will receive in return. Explain how your services will solve their pain points, help them achieve their goals, and ultimately transform their business. Better yet, walk them through the process of telling you how your services solve their pain points.  

Share testimonials from satisfied clients, case studies that demonstrate your expertise, and any other evidence that reinforces the value of your services. The more you can showcase the positive outcomes your clients have achieved, the easier it will be to justify your prices. 

Lead with Confidence, Not Apology 

Confidence is key when talking about your prices. Avoid apologizing or undervaluing your services. Instead, present your prices with conviction and clarity. 

Here are a few tips for exuding confidence: 

  • Speak clearly and concisely. 
  • Maintain eye contact. 
  • Use positive body language. 
  • Avoid filler words like “um” and “ah.” 
  • Practice your delivery beforehand. 

Bonus Tip: 

  • The Power of the Pause: Don’t rush to fill the silence after you’ve stated your price. A well-timed pause can create a sense of anticipation and allow your client to fully absorb the information. It also gives you a moment to gauge their reaction and adjust your approach if needed. 

The more confident you appear, the more your clients will trust your expertise and the value you offer. 

Addressing Objections 

Some clients will inevitably raise objections about your prices. Be prepared to address these concerns calmly and professionally.  Remember, objections are often fillers for your clients as they need space to make a decision.   

Listen to their concerns, acknowledge their perspective, and reiterate your services’ value and how it links to their goals. If a client says your services are “too expensive,” reframe the conversation by focusing on the value and ROI they’ll receive. If they say they need to “think it over,” offer to schedule a follow-up call to answer any further questions. Not all clients will decide then.  And that is okay.  Remember, this is about them, so you don’t want to push them to an uncomfortable place. 

Remember: The goal of the pricing conversation is not to convince everyone to work with you. It’s to find clients who value your expertise and are willing to invest in the results you can deliver. 

Ready to Master the Pricing Conversation? 

Pricing conversations don’t have to be scary. By shifting your mindset, focusing on value, communicating with confidence, and addressing objections with finesse, you can confidently discuss your prices and attract clients who are ready to invest in their success. 

In our next Marketing Morsel, we’ll delve into specific pricing strategies to help you optimize your earning potential. Sign up now so you don’t miss it!