Customers often complain to MSP sales representatives that their services are too expensive. This complaint should not be dismissed. There is no sense making up an excuse for the customer’s lack of interest when the truth is out there in plain sight. It is up to your team to address customer price concerns. Price concerns are almost always the sales team’s fault or an executive’s fault, as opposed to the prospect’s supposedly warped subjective viewpoint. Let’s take a quick look at how to boost your sales without compromising too much on price.
The Issue of Customer Budgets
If a customer does not have enough room in the budget to meet your price point, it is not his or her fault. It is the sales professional’s responsibility to work within client budget constraints. If necessary, find the person in charge of the budget and speak to him or her.
Lack of Value
A client who does not see meaningful value in your company’s offerings is not at fault. It is the service provider’s fault for failing to position the value in the proper manner. Furthermore, failing to provide value worth your quoted price point might be a valid complaint worth considering. Take some time to reconsider your value offering before moving forward.
Consider Prior History
Most of your prospects have purchased services similar to yours in the past. Put forth the effort to understand the client’s buying history and position your company’s MSP sales strategies with this information in mind.
Qualify Early in the Process
Sales professionals often face price objections as they are constantly speaking to and meeting with similar people over and over. Sales staffers should expand their scope, attempt to meet with true decision makers and be somewhat flexible on price points.
The Matter of Client Expectations
If the price you would like to charge is not the price clients are expecting to pay, it will be hard to convert them. It is up to sales professionals to set prospect expectations. Consider the customer’s unique budget before broaching the issue of price. Take some time to consider the financial aspect of your clients’ financial pictures when setting prices. If necessary, slightly alter pricing to win or retain business.
When in Doubt, Take the Fall
If you still cannot generate sales with the same price level after making several alterations, do not blame the customer! Take some time to consider whether you qualified the sales opportunity in the proper manner. Do not fall into the common MSP sales trap of blaming price concerns on clients. Focus on what you can do better, and you will still have a chance at expanding your customer base at an acceptable price point.