Learn how to deal with price objections confidently in your retail business. This blog post will guide you through how to explain your handmade product prices.
If you run a product business, you’ve probably had a customer question your prices. It can feel uncomfortable, and probably personal, especially if you’re a handmade or creative business where so much of your time, energy, and skill goes into each product.
The good news? Price objections are normal, and when handled well, they can actually build trust and confidence in your brand.
Get ready to learn how to deal with price objections confidently, respond in a way that reaffirms your value and explain your product pricing without apologising.
What To Do When A Customer Questions Your Prices
When a customer says “that’s too expensive” or “I can get it cheaper elsewhere”, your first reaction might be to defend yourself. Instead, try these strategies to open up the conversation:
1. Say nothing (and smile)
Silence can feel awkward, but it often encourages the customer to explain their concern. Once you understand the real issue, you can respond with confidence and highlight the value in what you offer.
2. Agree with empathy
Agree with the customer: “I can see why you might think the price is high, but….” reaffirm the value and the quality, style, craftsmanship, and service they will get. This shows understanding while reinforcing your value.
3. Ask clarifying questions
Sometimes it’s best to dig deeper. You could ask: “Can I ask why you feel that way?” This opens a genuine conversation rather than a debate.
Dig deeper and ask more questions to understand their concerns. You could ask: “Can I ask why you feel that way?” This opens a genuine conversation rather than a debate.
Ways To Reaffirm Your Value When Talking About Price
Here are phrases you can use when talking to your customers about your product prices and reaffirm your value:
- You get what you pay for – no fast fashion here
- This is a great price, I can reassure you. Based on…
- I may have missed explaining something correctly
- Let me reconfirm what you get…
- What’s included with this product is…
- If this improves your life, isn’t that worth it?
- May I ask, is there something else here that’s concerning you?
- We are higher priced than our competitors, but here’s why…
Affirmations To Boost Your Pricing Confidence
Price objections aren’t just about the customer, they can also trigger self-doubt for you as the business owner.
Confidence is key to growing in business so use these affirmations to feel grounded and confident in your pricing:
- I am worthy of this price
- People love to pay me at my new prices
- People are inspired by my prices
- I consistently sell my products
- My customers see the quality and value in my work
- I showcase the value of my work to my customers
Rewrite these in your own words so they feel natural and believable to you. Over time, they’ll help you feel stronger when talking about money with your customers.
You’re ready to deal with price objections in product businesses
Learning how to deal with price objections confidently in your retail business isn’t about defending yourself – it’s about showing customers the value behind your prices. By staying calm, asking questions and reaffirming your worth, you’ll not only handle objections better but also build stronger relationships with your customers.
Remember: your products are worth the price you’ve set. Stand firm, speak with confidence and trust that the right customers will see the value in what you do.
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