Reduce Price Resistance – 3 Simple Techniques For Converting Clients and Customers Without Selling

Dealing with price resistance is one of the most important competencies required for success in selling high-end products and professional services. Buyers of such products and services generally work hard to get the best deal. With easy access to the internet, numerous studies have shown that the information asymmetry has narrowed between consumers and expert professionals in virtually every industry and market niche.
Conventional wisdom on reducing price resistance has long focused on marketing and sales arguments that focused on how businesses compare along common criteria. As a result, much time is spent arguing about having better warranties, Farm Consulting Agreement better service, and better quality of products. In short, you have been working hard at being different but when your competitors copy your every move, you end up being different in the same ways as your competitors.
This is a recipe for marketing disaster; a sure path to brand obsolescence.
Here are 3 powerful techniques for lowering price resistance in prospects and clients.
1. Develop An effective USP
A unique selling proposition is the particular selling argument that definitively differentiates your business from any other substitute or alternative for the benefits that you offer to the marketplace. Traditionally conceived of as a concept for marketing of specific products and programs, the USP concept can be applied to your business as a whole in such a way as to build a hedge of protection for your business from competitors.
For a USP to be effective at lowering price resistance, it must authoritatively establish your difference in benefits that are priorities to the marketplace. You cannot assume what these priorities are. The best way to develop this is through a well-developed market research process (even if it’s just within your customer database) that helps you definitively articulate what is important to your marketplace.
2. Business Model Small Business Consulting Services Near Me Innovation
In the book “Blue Ocean Strategy”, W. Chan Kim and his colleague Renee Mauborgne make a strong case for designing a business strategy that exploits the fringes of current market, industry, or business definitions.
A Business model is simply a representation of how a business makes money. You need not be a Fortune 500 multinational to innovate your business model. Simply adding a product or service offering that is valuable to your customers, can sufficiently differentiate your business model in a way that diminishes price resistance. In my Denver business consulting practice, we help Denver professional service firms and manufacturers implement differentiated business models using such simple innovations as:
Information Publishing Profit Centers
Strategic Partnerships and Alliances
Market Repositioning
3. Implement C.A.T.O. Persuasion
C.A.T.O. is an acronym that stands for “Comparing Apples to Oranges”. By comparing your offerings to more expensive, more inconvenient alternatives, you frame the context of your sales and marketing presentations to highlight the particular advantages of your products and programs.
Direct Response Guru Dan Kennedy gives an example of this kind of “apple-to-oranges” persuasion in his book, No B.S. Sales Success. He shares how he was able to sell more of a $180 dollar information product package by comparing those products to the credible alternative of having to incur over $1,000 dollars in expenses for similar information in conferences targeted at the same professionals.
Conclusion
These are just few of many strategies that you can employ in your business to lower price resistance in your prospects and clients. Other methods include aggressive implementation of social proof elements, using a multiple-step marketing campaign that involves information publishing lead generation to sell high-end products and services.

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