Ask Leo: What does it mean when your customers tells you your products/services are too expensive?
When people say, "It is too expensive," it's not really that they cannot afford it, but that they feel they are wasting their money buying that product at such a price. They have in them the feeling that they are giving out a value (money) disproportionate to the value (product) they are receiving. Most times, they have the money, but they think the product is not worth the value. Have you ever gone to a boutique and decided to buy a boxer, and the salesperson tells you the boxer is N10,500?
Yes, N10,500. Perhaps, not boxer, but something of such nature. You'll buy other things, but you see that boxer? You'll not buy it, not because you do not have the money but because you think it's not worth it. After all, the boxer will be covered by your trousers - so why spend so much on something nobody is seeing? After all, you can go to Plaza (for those in Uyo, Akwa Ibom State) and buy ten boxes for N1,000 each. These are some of the exact reason as you can see. So when they say it's too expensive, it means they don't fancy it that much not because they don't have the cash for it.
If a prospect tells you, "It's too expensive," and is about to walk out, is there something you can do to make the person buy the product at the expensive price? Yes, there are many things. But before I talk about them, what do you usually do in such a situation? Let me learn from you. Marketing is war! You cannot afford to be nonchalant about it or even approach it with meekness. You need to prepare as one going for war. This means that you need to be strategic, else you'll lose out. So next time know this and know the peace of understanding on how they feel about your products/services
