When I probe deeper and ask why they are charging so little for their services they tell me its because they are new in business, or they don’t have a certain certification.  They feel they are often in a position of convincing the prospects to hire them despite their limited experience.

Now my question is how do they know you have limited experience?  More often than not, your prospects will only know the answer to that question if you reveal it.

Aligning your pricing with your value and attracting a slew of great clients does not mean you need more certifications, have a high degree of experience, or that you put in more time than someone else.

What it does mean is that you clearly define your target market and then provide the solutions and clearly tell them that you can solve their problem.

Value based pricing has more to do with these two issues than how long you have been a coach, organizer, or wedding planner.  Focus on the value and your clients will gladly pay you for solving their problems!

I hate to hear the word “NO”.  How about you?  Well, I bet you hate that word even more when you talk with potential clients about your fees.  You’ll do almost anything to get a “yes” instead of that dreaded no and I bet that includes lowering your fees.  The problem is that dreadful habit of lowering your fees will eventually put you out of business.

So how should you handle price objections?  Here a 4 simple solutions.

1. Establish Value Before Discussing Fees

It is always about the value.  You’ve heard me say this before, “no one cares what you do, but they do care about what you can do for them.”  Therein lies the value; its what you can do for them.  Can you help them loose weight?  Can you help them increase their sales? Can you help them manage their time more effectively? 

Whether on your website, in the sales conversation or in any other written material remember to always establish the value that you are offering the client.  So get clear on this, ok?

Remember when discussing fees don’t let the conversation stray into pricing too soon.  You need to ensure they understand the value of working with you BEFORE you talk money.

Here’s an example:  What would it be worth to you to be able to accomplish all the things that we discussed today?

Doesn’t get any simpler or more powerful than that!

Remember, there is a lot that goes into the sales conversation but if you are not clear on the value you offer your clients they won’t be either.

2. Lowering Fees = Removing Value

Remember when you are developing your packages you can always offer a lower priced alternative.  But don’t forget to remove services from that package.  Often times when clients see what was removed from the higher priced package they suddenly find the original package very appealing.

3. Have Multiple Options For Your Clients

Sometimes it really is about money. When it’s really a matter of affordability for your clients are you able to help by offering them multiple solutions?   If they aren’t ready to invest in your private coaching, then they can sign up for your newsletter and join your next workshop or group coaching program.

Having multiple packages to offer your prospects makes the entire sales process much easier. Regardless of their objections, you have something they can say “YES” too.

4. Say “NEXT” and Move On

Be willing to walk away.  Yup, you heard me right.  It takes a lot of guts to walk away and know in your heart that a better client is just around the corner.  Remember there are many, many more clients willing to pay your fee and work with you to get incredible results.

This is in fact an extremely powerful way to close a sales conversation.  People hate when something is taken away from them; they hate scarcity.  All of a sudden they want things that they think they can’t have.  Nut’s I know, but it’s true.

When you prospective client sees that you’re willing to walk away… they suddenly see you as more valuable.  You’re not there squirming and begging for their business.  You understand there is someone out there dying to work with you!

When you allow prospects to push you around and into lowering your fees you end up resenting them.  And is this the kind of working relationship you want with your clients?  I think not!

Not making a sale can be nerve racking, but take a step back, a deep breath and know that the next client is just around the corner!