That’s what prospective customers or clients often say, when you ask why they didn’t buy from you.
And it could be true. However, it usually isn’t.
Allow me to explain.
Let’s start with just a small sample of far more likely reasons for their decision.
- Your marketing could be suffering from Toxic Complexity. This is dangerous and extremely common.
- You could be marketing to the wrong people.
- You could be asking people to make a decision before they have all the information they need.
- Your marketing promises could be too similar to those offered by your lower priced competitors.
- Your marketing could be failing to clearly demonstrate enough value, making your prices seem high.
- You could be responding to enquiries too slowly (or too quickly).
- Your branding could be positioning you (in the mind of your marketplace) as a lower priced provider than you actually are.
- You could be contacting them at the lowest part of their cash flow cycle.
- Your payment terms may not be flexible enough for them.
And there are tons of other reasons. None of which have anything whatsoever to do with your prices or fees, and everything to do with your marketing and sales process.
Here’s the thing. Lowering your prices can be tempting. It’s a quick and extremely easy way to make your products or services seem better value.
However, it’s a terrible, low profit strategy.
A far better alternative is to find out what’s actually causing people to think you’re too expensive. And to then focus on improving your marketing in those key areas.
If you’re not sure where to start looking for answers, the brief list above is a useful place to begin.
