Then you take this information and begin to delight the customers with consistent service, convenience, extra incentives and perks, or a newsletter that's loaded with tips, statistics or resources based on their needs and interests. They will respond by gladly paying you a premium price for your product or service, bragging on your business to others, buying more of your offerings, and most importantly, think twice before leaving your business in the face of a cheaper or tempting offer. You, in turn, will be able to devote more time to serving your most profitable base and spend less time and money on chasing new customers. If you understand the meaning of an objection, you can respond with finesse and still get the sale. Very often a price-balker isn't making the right comparisons.
More leather equals more money.
Other tactics for chipping away at price objections include quantifying your offering's benefits in terms of price and minimizing or showing how insignificant a price difference is over the article's lifetime when compared to the extra benefits. Pull out a pad and make some notations that list the events that have created the situation and the consequences you're experiencing, and express how it makes you feel. Or, change the direction your business is going. Or, you may need to downsize one aspect of your business. The best source of information is other small-business owners.