Sep 6, 2018
What do you do when a prospect says: "I can get it done cheaper somewhere else"? How do you respond to that? In today's video, I'll tell you exactly how you can respond so this isn't an issue for you any longer.
How do you deal with those clients who say, "I can get this done cheaper, or can you lower your quote?"
Man, I always loved this question...(sarcasm)
I would start off by saying "I may not be the best fit for you if the price is a big issue. Is it really the price, or is it time or value? Let's step back and look at everything."
First, you want to reiterate the ISSUE and what's it's costing their business by not solving the issue. Then find out what the other (cheaper) quote is and ask why you think they're charging less.
Most of the time it's because the other agency has less experience. If that's the case, here's what might happen (and you can illustrate this to the prospect):
What might happen is that the other agency may not fully understand what is needed. Therefore, they might need the client to spend a lot more time with them and handholding them. By going with the cheaper proposal, the client might end up sacrificing time for money. It will take a lot more of their time and effort to accomplish the goals.
However, if they value time more than money then paying for YOUR experience and expertise is the way to go, even if it costs more.
The key is to help them logically think through the decision and second-guess why someone else is so low-priced, to begin with. And, if they continue to be price sensitive then they were going to be a bad prospect for you anyway. So, it's better to know this now and avoid it sooner rather than later.
I always say there's no such thing as a bad agency client. There's only a bad prospect and a bad prospect. If this "cheapo" is a bad prospect then avoid the headache while you can!
Comment below and tell me your stories about prospects who want to negotiate down in price. How do you handle it or what are you going to do differently?
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JASON SWENK IS AN AGENCY ADVISOR THAT GUIDES MARKETING AGENCIES THROUGH A PROVEN FRAMEWORK FOR GROWING THEIR AGENCY FASTER & EASIER.
Fresh out of college Jason was off to work for Arthur Anderson, one of the big 5 consulting firms. He quickly realized that he could never work for anyone other than himself. He decided to change direction, launch a digital agency that quickly grew to a multi-million dollar operation working with brands such as AT&T, Hitachi and Lotus Cars. After 12 years of steady growth, the agency caught the attention of bigger agencies and Jason sold it in 2012.
Now, Jason leads http://JasonSwenk.com, a unique media company
& consultancy helping marketing agencies grow & scale their
agencies faster by applying the framework that he used to grow,
scale and eventually sell his agency. Jason has helped over 10,000
agencies in 23 countries meet or exceed their business goals.
Jason currently hosts two shows that are available for download…
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