Is there anyone in business who hasn’t struggled with the “your price is too high” objection? Yet there is an effective way to counter it.
On its surface, price is an indisputable fact. “Price” is the black-and-white number the customer is going to pay.
That’s why it’s such an easy out for a client talking to a vendor. It also protects the client with their superiors were they ever to be questioned about why they chose a certain vendor... ”Look, their price was lower.”
“Value” however, exists only in the end-user’s mind. It’s subjective.
For example, to a third-world farmer who has never touched a computer, a software package has zero value.
For our practical purposes, a price objection is a sign that the client is not aware of all the value they are getting in a product. That is where Positioning comes into play.
Positioning is the act of pointing out every last piece of value. Then you can attach and justify an appropriate price.
The Truth Behind a Price Objection in Printing Sales
When a price objection surfaces, dig deeper. There are almost always other reasons for the price discrepancy that relate to value.
Some examples of value that you might have to point out:
- Here’s a simple one. If your client will let you, compare the specs. There could be discrepancies in paper, inks or finishing that account for the difference in price. A comparison determines if you’re on a level playing field.
- Do you deliver faster than the low-priced competitor?
- Does your delivery include up-to-the minute tracking services?
- Do you offer or include storage and fulfillment services that competitors do not?
- Do you have a quality control system not used by your competitor? For example, we use a strict G7 methodology to ensure a perfect, consistent appearance on all jobs.
- Do you have dedicated customer service reps that work one-on-one with clients? Your competitors might not include that sort of value.
- Do you make the purchasing process easy for clients? For example, we make it easy for clients to order online, by phone or by email.
These are all ways to add significant value.
Adding value doesn’t’ mean you have to add cost, either. Some of the things I mentioned don’t cost any extra, but they still add value.
Think of every way that you currently add value. Then brainstorm ways to add even more value.
Better positioning—the act of educating your clients about your unique value—will reduce price objections.
5 Additional Strategies to Overcome Print Sales Price Objections
Below are five additional ways to beef up a print provider pricing strategy by conveying more long-term value.
1 - Offer Testimonials and Case Studies
Provide potential clients with testimonials and case studies from satisfied customers. Highlight how your services helped them save time, improve quality, or achieve specific business goals.
2 - Highlight Long-Term Benefits
Emphasize the long-term benefits of your services. A good relationship with a print service provider allows for a working process to develop—sort of a business shorthand. This means faster turnaround and easy communication. It makes it easier to catch mistakes. Clients that bounce around many providers based solely on price must get reacquainted on every job.
3 - Sustainability and Eco-Friendliness
If you use environmentally friendly materials or processes, make sure to let clients and prospects know this. Companies today pay a premium to work with vendors who use sustainable practices and materials. Another advantage of working with WTP is that our commitment to sustainable printing becomes yours.
4 - Training and Support
Mention any training or support you offer post-sale. For example, if you provide training on how to use certain printed materials effectively, this adds value.
5 - Industry Expertise
Demonstrate your expertise in the printing industry and how it provides value to your clients. Expertise can be demonstrated in many ways, including:
• Blog articles on your own site
• Guest posts on other sites
• LinkedIn articles and updates
• Magazine articles in trade publications including those that your ideal clients are reading
• Awards that you, your company, or your staff have won
• Interviews on relevant podcasts
• Speaking at conferences and trade shows
• Hosting workshops or webinars
Real-World Examples of Adding Value [Case Studies]
Here are a few real-world examples of ways that WTP has added long-term value by strategically collaborating with print service providers.
Case Study: 40% Savings on Saddle Stitched Book Mailing through Innovative Planning
How we uncovered an opportunity that saved tens of thousands of dollars without detracting from the direct mail booklet campaign's effectiveness.
Here are all the details.
Case Study - 20% Revenue Growth Despite a Troubled Acquisition
The strategic value of working with a genuine trade printer sometimes seems to be the world’s best kept secret. We are not just a supplier, we are a business growth partner.
The owners came to us soon after acquiring another printing business. They had a good strategic plan in place for the acquisition. Almost immediately, they faced four significant and unexpected staffing and logistical challenges that threatened their whole operation.
The need to cut operating costs was immediate.
Together, we collaborated on a plan that quickly tackled all their pressing challenges.
Here's what happened.
Case Study - 10% Growth Without In-House Production Headaches
We worked with a commercial printing company faced with the problem of transitioning from a full-service production facility to a 100% brokerage business. Working with WTP, they managed the transition and achieved a 10% revenue growth their first year.
Read the Case Study Here.
Case Study - The Transition That Saved a Family Business
In this study, we teamed up with a company that was throwing in the towel on manufacturing.
The problem was they couldn't figure out how how to keep their family-owned business alive. We collaborated to help them overcome these challenges, which in turn led them to more profitability than ever.
Read the Case Study Here
Summing it Up
Overcoming the “price is too high” objection requires a deep understanding of your value proposition and the ability to communicate it effectively. By positioning yourself as a partner who adds significant value, you can justify your pricing and build stronger, more trusting relationships with your clients. Remember, it’s not just about the price tag—it’s about the total value delivered.
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