You may be making a common sales mistake when offering your products and services to prospects. Rather than setting fixed prices for your services, you may be deciding with each new prospect how much to charge for your products.

While that may seem like a good way to make every sale, it will actually wind up costing you money. Keep reading to learn how to make more sales while holding firm on pricing.

Make the value of your product or service clear to your prospect: You probably learned the habit of price shifting with the best of intentions—getting every prospect to say “Yes.” It might seem as though changing your price for each prospect is the best way to close every sale.

What you really need, though, are better sales techniques. You won’t have to reduce your price to make a sale if your product’s value is clear to the prospect. Set firm prices and then work to educate each prospect on how your products will benefit them. Once that benefit has been established, they’ll be more than happy to pay the price you quote.

Keep Yourself Accountable: Find yourself an accountability buddy. This is someone who will remind you to stick to your fixed pricing.  Someone who will watch out to make sure you don’t deviate! This is a hard habit to break.  Remember, you started shifting your prices in the belief it would help your conversion numbers. That’s why you need someone else to remind you that fixed pricing will net more sales.

Let the Client Decide: Once you’ve set a firm price on your products, approach each offer with the notion that your clients can decide what they need. Your job is to present the options to them. If you’ve done a good job, the client will make an informed decision to buy your products.

You might also be prejudging your prospects and decided whether or not they should buy. Sometimes, that’s done out of the fear they don’t really need your products. It can also come out of arrogance, a feeling you know better than the client what they need. No matter what the reason, it’s time to break the habit!

Someone who can actually be served by your products might be missed if you decide ahead of time they are not in a position to buy. For instance, Dan Kennedy tells the story of a salesman who botched his presentation after observing his client’s humble lifestyle. Why would he miss an opportunity to sell his products? Because he decided ahead of time they couldn’t afford to buy them.

Stop talking yourself out of sales. Present your products clearly and establish the benefit to each prospect.  Positioning yourself to serve their needs and making the advantages of your products obvious is always a better strategy than changing your price. Name your fixed price and then let them decide whether to buy.

It’s not too late to change your selling habits. Practicing fixed pricing is the fair way to build your business. Put your energy into learning to serve your clients with great products and presenting the benefits of those products clearly. Once you do, your business will begin to grow with a lot less effort than you’re expending now.

6 Responses to “Avoid This Common Pricing Mistake”

  • love it! I have been working with a friend who is soooo underpricing her services and this is great. thank you

  • Thanks for the great tips. Re: presenting options, if you have a number of options at various price points (fixed, of course ;-D), you have even more opportunities to match your products/services to a range of client needs.

  • Sheila Holifield:

    Very informative and this is a topic I have been stressing over lately. Once a fixed price has been established, would you suggest posting the prices on the business website? I personally prefer to view the pricing of a product or service and then my decision based on the information provided.

  • Thanks for the great post!

    I’m so with you in this. The worst thing that one can do is to drop your prices to get more sales, there’s no end to that when you begin and people should understand that with this kind of behavior they are hurting the entire business field.

    So build your business and your professionalism to a level where they need you screaming! :)

  • When I price my products and services, I focus on the results the client will achieve and the short and long term value of those results to them. Once they truly understand that, the decision is easy.

    Live Your Dreams,

    Jill Koenig

  • Cool blog, enjoy following it greatly!

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