How to Set and Talk Price for Your Service

March 17, 2016

~by Haley Lynn Gray~

 

If you’ve been in business, you’ve been right at that point where you get the question from a prospect, “How much does it cost?”. One of my preferred tips for sales is to avoid talking about price until we’ve established exactly what it is that we’re providing for a client in terms of benefits and value. It is critical to establish the value of what you’re selling before talking about how much it costs.

Here’s a good example: When someone calls my home care agency, the first question out of their mouth is frequently “how much do you charge?”. Not all home care agencies are created equal, so that is not the best question for clients to ask. And this is the reason why we try to establish what we do before we talk about what we charge. Our caregivers are screened thoroughly with a national criminal background check, drug screen, reference check, nursing registry check, and multiple rounds of interviews before we send someone out into a client’s home. We use GPS for timecards, so we can verify that our caregiver is actually in the client’s home when they clock in and clock out. Some other agencies still use paper timecards. We also perform unannounced supervisory checks while our caregivers are working because that is our standard of care. But that’s not everyone’s standard of care.

Set-and-Talk-Price-compressor - Talk Price for Your ServiceWhat we’ve learned is that we can compete on price or we can compete on benefits. We prefer to compete on benefits because competing on price alone is a race to the bottom.  

Much about pricing depends on your field. If you are providing consulting or other services, you are really talking about an investment on the part of your client, not just a price. You are providing great value and benefits for the client, and you need to establish trust and develop a relationship before you can even begin to talk about price.

Many times the consumer is going to want to know about price up front because it’s an easy decision point. They don’t have to think about it if the number seems “too high”. They can just say no, as opposed to having all of the information in front of them before getting around to making that decision.  

When you get around to talking price, you need to be confident about the amount you are quoting. You have to charge an amount that is comfortable for you and that the client is willing to pay. If you aren’t completely confident about the amount you are charging, then it will reflect in your voice, and you’ll hesitate. You can get around it by practicing saying your price. Say it early and often, and say it in front of a mirror. Practice enough so that when you get around to telling your prospective client your prices, you don’t end up choking and saying something else, or saying something silly.

Price is one of those topics that is most sensitive for us, and for our clients, so you’ll want to make sure you have it down pat before getting into those discussions, regardless of your industry.
.


Share this post on freedom to choose


Meet the Author: Haley Lynn Gray

Haley-Lynn-Gray__IMG_2025-compressorHaley helps female entrepreneurs create a strategy plan for their businesses – so they can make enough money to spend quality time with their family, pay for their children’s dance lessons, pay bills – and not worry about where the next client is coming from.

Haley is a serial entrepreneur and founder of Leadership Girl. She helps other entrepreneurs build their businesses by sharing the benefits of her business education and experience through Business Coaching.

Whether you want to get a new business off the ground or expand an existing business, Haley can assist you.

Connect with Haley:


Categories

More Posts:

Ways for Increasing Property Management Lead Generation

Property management is not a simple job, there are multiple tasks that a property manager should complete for various property investors. Marketing is one of the difficult parts, but it’s crucial. You can only attract tenants to your property and gain income after you have generated leads. Therefore, you should try your best to come up with smart and effective strategies to get your company known.

5 Unexpected Industries That Need Social Media Marketing

In today’s digital age, social media has become an essential tool for businesses to connect with their target audience and promote their products or services. While it’s common to see industries like retail, hospitality, and entertainment using social media for marketing, there are several unexpected industries that can also benefit from social media marketing.

#InvestingInYOU: Consider Coaching

#Investing in YOU: Consider Coaching Mindy Jo, M.B.A. & M.Ed. Certified life coach & founder of worryaboutYOUtoday.com Life coaching. What is it? What is it NOT? Life coaching can have many meanings based on the type of coaching that is being offered, such as:...

5 Tips for Recruiting Younger Real Estate Agent Candidates

To ensure your agency’s survival, you may need to renew your focus on recruiting professionals that belong to the millennial and Gen Z demographic. To guide you in this task, here are a few helpful tips you may want to follow:

Photography Niches That Do the Best Business

Do you love the creativity and flexibility of photography but can’t figure out how to start a successful photography business? Not all photography niches are created equally, and your success in a niche might depend on where you live.  Here are a few types of...

Nyago Michael Emmanuel

We invite many people who can invest in our Akiba Ya umoja community benefit savings and investment group of Uganda to enable us expand our operations in Uganda

How to Make Your Social Media Campaigns More Relevant

Social media is a powerful tool for businesses of all sizes. It allows you to connect with customers and followers in a way that was never possible before. However, it's important to make sure your social media campaigns are relevant to your target audience. Here are...

SEO Basics for Small Business Owners

SEO, or Search Engine Optimization, is essential for small businesses looking to grow their online presence. SEO is the process of optimizing your website so that it will appear higher in search engine results pages (SERPs). It can help you increase site visibility...

Marketing Moves to Make in 2023

As 2022 comes to a close it is time to begin setting goals and making plans for the new year. One area of particular import is your marketing strategy. It is vital to follow the current trends in marketing to keep ahead and stay competitive. Here are three marketing...

A Five-Step Guide to Starting a Logistics Company

If you've been considering launching a transportation and logistics company, now is the moment. The transportation and storage sector is very important and profitable. Statistics show that by 2027, the global logistics market would have grown from its 2017 valuation...
Ways for Increasing Property Management Lead Generation

Ways for Increasing Property Management Lead Generation

Property management is not a simple job, there are multiple tasks that a property manager should complete for various property investors. Marketing is one of the difficult parts, but it’s crucial. You can only attract tenants to your property and gain income after you have generated leads. Therefore, you should try your best to come up with smart and effective strategies to get your company known.

5 Unexpected Industries That Need Social Media Marketing

5 Unexpected Industries That Need Social Media Marketing

In today’s digital age, social media has become an essential tool for businesses to connect with their target audience and promote their products or services. While it’s common to see industries like retail, hospitality, and entertainment using social media for marketing, there are several unexpected industries that can also benefit from social media marketing.

#InvestingInYOU: Consider Coaching

#InvestingInYOU: Consider Coaching

#Investing in YOU: Consider Coaching Mindy Jo, M.B.A. & M.Ed. Certified life coach & founder of worryaboutYOUtoday.com Life coaching. What is it? What is it NOT? Life coaching can have many meanings based on the type of coaching that is being offered, such as:...

Nyago Michael Emmanuel

Nyago Michael Emmanuel

We invite many people who can invest in our Akiba Ya umoja community benefit savings and investment group of Uganda to enable us expand our operations in Uganda

All Categories

Business Operations

Entrepreneur Interviews

Marketing, Networking, & Social Media

Self Care & Personal Development

Working Moms

Business Software and Technology

Entrepreneurship & Small Business

Organizing Tips

Sales

Career Building

Family Businesses

Inspiration

Starting Your Own Business

Work-Life Balance

Communication

Hiring Help

Management & Leadership

Time Management & Priorities

Women in Leadership

Recent Posts

Elements That Should Be Part of Your Company Retreat

Elements That Should Be Part of Your Company Retreat

A company retreat is an excellent opportunity for team-building, learning new skills, and fostering relationships between colleagues. Whether your team is large or small, a well-planned retreat can be an invaluable investment in your company's success. We will explore...

How to Make Employee Health a Priority

How to Make Employee Health a Priority

Prioritizing employee health is crucial for creating a healthy and productive work environment. By investing in the health and wellbeing of your employees, you can improve morale, reduce absenteeism, and build a positive company culture. Here are some tips on how to...

Why You Should Run Your Business on the Latest Technology

Why You Should Run Your Business on the Latest Technology

In today's fast-paced business environment, keeping up with technological advancements is essential for success. Implementing the latest technology can offer numerous benefits, such as improved productivity, enhanced data security, and reduced costs.  Improve...

What are local links and how to earn them

What are local links and how to earn them

What local links are and how they might assist local businesses develop an efficient SEO strategy are covered in this article. Local links allow visitors to learn more about a region and its businesses by connecting websites from the same area that are relevant to one another. They must be pertinent to the neighbourhood and offer valuable resources or information. Content marketing, reviews, sponsored content, social media, and directories are all ways to generate local links.

Ways for Increasing Property Management Lead Generation

Ways for Increasing Property Management Lead Generation

Property management is not a simple job, there are multiple tasks that a property manager should complete for various property investors. Marketing is one of the difficult parts, but it’s crucial. You can only attract tenants to your property and gain income after you have generated leads. Therefore, you should try your best to come up with smart and effective strategies to get your company known.