How would you address the (often) #1 customer objection which is "Your prices are too high!"

I’ll start by saying that if you’re consistently hearing that feedback, your job as a PMM is not just to come up with messaging to handle the objection but also to make sure you’re getting to the root of the issue, really understanding that feedback, and bringing that to the larger pricing leadership group to keep a pulse on how pricing is received and, over time, decide if you need to make a change or stay the course. You’re not always there just to figure out the messaging, your insights can a ...Read More

Do not try to justify or explain why you charge the way you charge but better to engage in a conversation and prompt the prospect to share with you their reasoning. Start with some silence and then explore the pricing objection. This will give you a better understanding of the specific concerns behind the sticker shock so you can more easily address them. You also want to probe into the conditions required in order to get a deal done so you can adapt terms or walk away. Here’s a great article wi ...Read More

I'd start by evaluating a few things:  - How have you positioned yourself? Are you positioned with lower-priced competitors?  - What's your ideal customer and does this customer fit that criteria?  - Are you actually priced too high for the value you provide?  Let's take each question in turn:  How have you positioned yourself? Positioning is essentially the context that you put around your product. Who are customers comparing you to? How do you compare to those products? When do you win?  If yo ...Read More

When faced with the common objection "Your prices are too high!", as a marketer, you can employ the following strategies to overcome this challenge: Address the customer's concerns: Acknowledge the importance of price and show empathy towards the customer's perspective. Highlight product value: Utilize marketing materials and messaging to emphasize the value that the customer will receive from your product or service. Emphasize its quality, features, benefits, and any additional services that co ...Read More