What does it mean when your customers say “It is expensive”? In the article What the Word “Expensive” Means to Your Customers we have already uncovered some of the meanings. Today let’s see what other meanings the phrase may have.
Your customers think the product does not worth the money.
Customers may underestimate the product value. If this is the case, you need to better explain or demonstrate the value of the product.
They think it is a waste of money.
This objection is similar to the previous one. The difference is that in the first case customers underestimate the product value, but in the second case they do not see the value at all. Probably they know nothing about your product or it does not fit in their value system. Here you need to create the value in their mind.
They want you to persuade them to buy.
Sometimes customers use the word “expensive” to say that they are hesitating. And they are not always hesitating about the price. They may be hesitating about the product value or even wether their purchase will be approved by their family or friends. They need some kind of reassurance that they are making the right choice.
They like haggling over the price.
Well, sometimes customers object just for fun. They are looking for communication, some nice talk that may be rewarded with a discount, or maybe not. It is not that important eventually. It is the pleasure of the game that matters.
Your customers like a cheaper product more.
Higher price does not always mean a better product for customer. Especially when we talk about some personal preferences like color, materials, comfort and others. You may offer them some complimentary services at extra cost.
They are satisfied with a cheaper product.
Your customers may already have a positive experience of using a cheaper product. The word “expensive” in that case means that they do not see any reason in buying something more expensive. Offer them a free sample or a free trial period to see the difference. The new experience may replace the old one and your customers will change their opinion.
They cannot afford it.
Probably they are not your customers right now, but things may change in the future. It will be a great advantage if you manage to build good relationships with these people before they find the money for a purchase. There can be situations when you can also help them to acquire sufficient amount of money.
You can easily see now that the word “expensive” may have over ten meanings to customers. Sometimes it is about money, sometimes not. It is hard to deal with this objection, but when you know the real meaning of it, you already have a key to success.