How to RESPOND to Customers When They Don't Want to Pay Your Price Signup

How to RESPOND to Customers When They Don't Want to Pay Your Price

Apr 16, 2024

We've all heard it before... "you're out of my budget," OR "Omg, that's so expensive!" This can be frustrating as a business owner BUT it's our job to articulate and educate our customers WHY our prices are what they are. It's not just about defending your prices; it's about confidently conveying the value of what you bring to the table.

So how do you do that? Keep on reading to learn how to respond to customers when they don't wanna pay your price like a boss.

First things first, practicing valuing your self-worth is vital. If you don't believe in the value of what you're offering, how can you expect customers to? Every small business owner needs to build a foundation of confidence in their products and services and in THEMSELVES. And the only way to do this is through taking action.

Remember, objections aren't personal attacks against YOU; they are opportunities for you to educate and enlighten your customers. This was a lesson I learned firsthand in my own business. Was I crazy to think someone would spend $5 on a cupcake back in 2019? HELL NO! (Although some customers probably did!) But the moment customers understood what made my products worth their price—they immediately said YES! So instead of getting defensive and discouraged whenever customers reject you, remember that you're not going to be for everyone and that's okay.

So HOW do you articulate the value of your products without sounding defensive and salesy? Here's how: lean on your UNIQUE VALUE PROPOSITIONS! (Aka what you can offer that your competitors can't) and educate them on the costs of operating your business.

Fun Fact: 90% of customers have ZERO idea what goes into running a profitable business or whatever it is you do. They don't know how long it takes to do what you do, the skill that's required, and the costs of operating day to day. It's our job and RESPONSIBILITY to articulate this information to them so they don't go around to every other small business expecting to find Walmart prices.

Never bombard your customers with excuses and justifications on WHY your products are priced the way they are but instead express genuine reasons that help them see the added value they get from your business. Your unique story, quality, and customer service—these elements help eliminate doubt and objections in your customer's mind.

DO NOT GHOST THEM when they tell you something you don't want to hear. This just leads to poor customer service and simply seems like you don't care. Although, they may not purchase from you today that doesn't mean they won't in the future!

Be okay with rejection. It's tough love time: not everyone is your customer, and that's okay. You aren't running a 'please everyone' kind of show. Your mission is to connect with people who get what you're all about. When you try to speak to everyone, you attract NO ONE. Those that don't align with your vision or value proposition? Simply wish them well. πŸ™ There's a tribe of people out there eager for exactly what you offer. Your job is to find them.

I know dealing with objections is difficult and frustrating. But at the end of the day, you can either feel frustrated, disrespected, or upset at your customers for declining your business, OR you can take this as an opportunity to provide them excellent customer service, educate them, and potentially still close a sale.

Remember that objections are simply part of doing business. Stay true to your worth, remember that confidence speaks volumes, and it's not your job to PLEASE everyone. The people who value what you bring to the market will continue to support you on your journey.

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