When was the last time you lost a deal because of cost?
If this sounds familiar to you, does your customer know the difference between the “first cost” and the total price?
Buyers will always buy the least expensive product if all variables are equal. Therefore, it is the sale professional’s job to make them unequal. If I am told my prices are high, my immediate response is that the difference in price means there is a difference in what is being offered. Quality, time, user experience and the ease of doing business are all variables that have an associated cost that are often overlooked by the customer.
The important thing to remember in the world of sales is that quality has a price that will save the customer time and stress and ultimately help the bottom line, even if the initial cost seems pricier than the competition. The next time your customer tries to negotiate the “first cost”, make sure they understand the real cost of doing business with the competition.