The “too expensive” objection
If you’ve been in business for a while, by now you would’ve come across clients or prospects giving you the too expensive objection. Mastering the right mindset and believing in the value you’re offering is so important. Understanding how and why people buy is also vital to knowing what to say when someone says it’s too expensive.
So what do you say in response?
Dealing with this type of rejection is always tough. It can make you question what you’re offering. It can make you question your value, your entire business and can even make you consider lowering your prices. It’s so important to fight the self-doubt.
Stop! Don’t change a thing until you’ve read on.
The worst mistake you can make is to try and cater for someone who doesn’t value what you’re offering. They are possibly not the right person for your business
Here are some real examples of ways to respond when someone says it’s too expensive.
Related post: How to increase sales conversions and double your business
1. Remember: Not everyone is going to value what you have to offer.
Just because a customer says you’re too expensive, doesn’t mean what you have to offer is not valuable. It may just mean it’s not valuable enough to that customer, or not valuable to them right now.
Here’s what you can say:
“What budget did you have in mind to invest in xyz solution?”
“If I could help you with xyz problem, how much were you thinking that would be worth to you? “
Just because a customer says you're too expensive, doesn't mean what you have to offer is not valuable. Share on X2. Remember: You can offer them a reduced solution or added value
Don’t compromise on the value you’re delivering just to please a customer who uses this objection. Stay firm on your price but offer them a reduced solution to match their lower budget or offer an added bonus at the original price if they agree to do business with you.
Here’s what you can say:
“I wouldn’t want to compromise on the quality of what I’m offering so if your budget is $xx then I would love to offer you xyz solution instead. How does that sound?”
“My prices are firm, however I would love to work with you. What I’d like to offer you is an additional xyz bonus as a free added extra to thank you for doing business with me.”
3. Remember: Any objection is a positive sign the client has bought into the idea.
People buy emotionally and then justify with logic. This is a very normal part of the buying process. The fact you’re getting a logical objection is actually a really good sign the customer has bought into the idea of your solution. This knowledge gives you the ability to continue to work with the customer on their needs and help them see you can solve their problem. Focus on the importance of them finding a solution right now.
Here’s what you can say:
“I know finding xyz solution is really important to you. Can you tell me more about why it’s so important you find a solution to xyz problem today?
“I understand it’s important for you to find the right solution right now. How would it feel if I could help you find a solution to xyz problem today?”
4. Remember: They may not be your ideal customer and that’s ok
Not everyone is going to be the right customer for your business. You can’t possibly have a solution for every single person and you shouldn’t try. Stay true to what you are trying to accomplish and focus on the right people who will value what you have to offer.
Related Post: Seven reasons why you need to define your ideal client
Here’s what you can say:
“I really believe I can help you with xyz problem and I would love to have your business when you’re ready. If your situation changes, feel free to get back in touch.”
“I wouldn’t want to compromise on the quality of xyz solution, so I’m afraid I can’t lower my prices. If a lower cost alternative is the main priority for you I understand but I’m afraid I can’t help you at a lower price.”
5. Remember: You are solving a very real and current problem for them
The most compelling reason someone will become your customer is because they have a real and current problem they need solving. This is one of the most important factors in improving customer conversions. Focus on uncovering their need and providing them with the right solution.
Here’s what you can say:
“You mentioned you wanted to solve xyz problem. I am confident I can help you. What would it mean to you if I could help you with xyz solution?”
“How important is it for you to be able to find xyz solution today? If I could help you immediately, would that be worth the investment?”
Conclusion
Dealing with the ‘too expensive’ objection can be frustrating but when you understand how and why people buy, you’ll see it’s not all bad. This objection can be overcome when you learn it is the customer telling you they’re not quite there yet. If you respond in the right way, this objection does not have to be as bad as it may first seem.
Really great advice, Lisa! Thanks for giving us concrete examples of things to say. 🙂
Thank you so much Caitlin, I’m glad this could be of help to you.
Great tips when selling your services
Thank you Alex! I appreciate the comment
This post is really helpful. I’ve considered starting my own business in the past, but was always too nervous to do so because of this very conversation! I didn’t think I would be able to convince people to pay me what I was actually worth. This post is making me reconsider my reluctance. :p
Oh Rachelle that is so exciting for me to hear. Of course they would pay you, but only if you believe you have something valuable to offer. I have no doubt you do. I hope you’ll look out for my Successful Sales online course coming soon. I think it would be a huge help to you 🙂
These are great responses! These are very tactful ways to let clients know, you won’t change your prices.
I hope they help you Esse. Thanks for your comment
Very informative post with some great.
Thankyou Alexandra! I appreciate the comment
Hi Lisa, I love this post because I’ve been faced with this example and sometimes I’ve merely let it go. As you said all clients may not be suitable in the grand scheme of things. But in the case where I meet a client that I really want to work with, I will use the answers given here.
Great realisation Jacqueline! This objection is fantastic feedback for you to take the conversation further because something is missing and usually it can be overcome with the right response.
I really don`t care and I don`t even replay to clients that say I`m expensive. 🙂
That’s one way to look at it Stoian. I look at it as a great opportunity telling me I haven’t done my job 100% – either I haven’t uncovered their need clearly enough, I haven’t been clear enough in my solution or I haven’t linked those two things. All the best.
Seriously this refused me just reading it! I can’t wait to apply these responses right away!
RE-FUELED**
haha I’m glad it re-fuelled you Collette and not refused you! 😉 I can’t wait for you to try these too! Please let me know how you go. Remember they do need consistent practice so they roll off your tongue without too much thought. Good luck xx
Good info here,Lisa. I agree especially with the not lowering your price,offer a lower level of quality service is very fair and both you and the customer will be happy.
Great post! Sometimes I wonder is it even worth working with someone you’ve got to haggle with on price. My thing is…my ideal client already sees the value and happily pays it! In an ideal world of course 🙂
That’s the definition of an ideal client Krista! They’re the ones you want to work with. It’s just a matter of knowing who they are and where to find them. Then go and talk to them and let them get to know you. All the best 🙂
Really great advice, we have to know our worth and adapt only within reason!
Totally agree! Adapt but never compromise for someone who can’t see your value!
Well now I will have to come up with a lower tier offer. Thanks for the advice. I usually have only one offer and whenever I make a presentation, there are little jitters, wondering if they will say it is too expensive. Now I know what to do. Thanks!
Thanks for the comment! It’s always good to have a modified option to negotiate with so you’re not selling yourself out and compromising on your value. I would love to hear about what you come up with! Please stay in touch and let me know. 🙂
That’s a good advice, Lisa. We often came across clients who are refused to pay what we ask for. And, these responses look great to be sent to clients in replies. I’m going to try this when someone knocks at my door.
Thank you Arfa and good luck 🙂
Such great info! I like the examples of things to say! Very helpful!
Hi Lisa, it’s a great sales material. I’ve just posted in on my LinkedIn.
https://www.linkedin.com/in/dominx9
Best day!
Dominik
Thanks so much Dominik! Really appreciate the support.
Great post and I appreciate the example responses! I’m going to bookmark this one for sure.
Thanks so much Stephanie, glad you like the examples.
Great practical suggestions for what to say. I have always been a pushover to meet people’s demands even when I lose out in the end. I needed to read this and will incorporate.
Great tips to remember! Thanks Lisa.
Thankyou Greggor
I love the Here’s What You Say portion of the blog. It gives a very concrete, useable solution. I’m all about a script if I’m not sure how to phrase something.
Thanks so much Kim so pleased the examples could be of help to you 🙂
Great reframes for how to address this ever-present objection!
Thank you Cathy, glad you found them helpful 🙂
This is one of the hardest lessons I’ve had to learn as a designer/business owner; thanks for reminding me that it’s okay to walk away from people who don’t value my work
Brilliant Katie! It is hard but you’ll have a much stronger business for it in the long run.
Some really tangible advice Lisa. I’d like to share this on my FB group THE GROWTTH CLUB in the coming week.
Thank you so much Kerry!
Hello. Thanks for this info! Interesting page :).
Thanks so much. Glad you found it helpful.
Article on objection handling or refusal to pay? Its rare and i have found a gem in your article. Thank you for this informative article. Learned much!
Cheers
Thankyou so much Shan, glad the article was helpful to you.