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Sales Confidence: Charging what you are worth

Filed in: All posts, Sales

Many of us have difficulty talking about money, especially when it comes to letting the client know the cost of our service or product. This normally leads to us feeling the urge to justify why the price is what it is. This seems to arise due to the fact that we fear rejection.

The below will guide you on how to approach this with confidence and charge what you are definitely worth without the need of motivating the price every time.

The question often asked in the consulting industry, is any consultant really worth x amount of money? Only if you have hired an experienced and powerful consultant who charges $2500-$5 000 per day and have paid for it, seen and felt what service you get in return, will you know that this is normally worth every penny.

Now even if you are not in consulting, the same applies in your industry. When your clients see the value they receive from you as a professional, feel the unique treatment or VIP experience from the moment they reach out to you, they will do whatever it takes to pay you. Interestingly enough, even if they do not have the money at the time, they will become resourceful by borrowing, saving, and doing whatever they have to, the same way you have done when you truly wanted something.

Do not take rejection personally. Remember no matter how good your services or products are, sometimes, we are not the right fit for the client, and other times the client might not be ready to commit. This is normal so do not be fearful of rejection.

Over the years, we have seen so many people with talent, skills, and expertise undervalue themselves while so many others with little or no experience and talent oversell themselves. What we have figured out is that self-worth and net worth have a positive correlation. For example, when our self-worth goes up, our net worth goes up. Pricing of your product or services is always flexible so it is your business to decide what it should be.

Money is not everything, it is defined as a current medium of exchange through coins and banknotes. Don’t give the number you charge so much power, rather focus on giving meaning to the service or product and the value you offer. The end result is money flowing to your bank account.

Confidence tips to assist you when being asked about your price

First things first, practice makes perfect:

The easiest way to build sales confidence when declaring your prices is to simply practice in front of the mirror.  Memorise your pitch for example I charge (insert what you charge) per day, hour, per product, per programme, etc. Our suggestion, you can also build confidence by pitching what your fees are in front of your partner, family, friends, and consultant.

The more you verbally mention the price, the more natural it will become to mention what you are worth. Have no emotion or fear, just say it as if it was a telephone number or password.

Secondly, remember the happy clients:

Now, what do I mean by remembering happy clients? Take some time to read through our latest testimonials from happy clients and embrace the service or products you give others and the results you bring. Your mindset is so important here so stay focused. Remind yourself how much you enjoyed serving others, how much value you have added to their lives, and lastly the receiving of money in return for this service or product.

 Visualise this process before you get on your next phone call or before starting to write your next email about your rates. Smile and convey your rates with ease, confidence, authority, and professionalism.   

Thirdly, think before you speak:

Breathe and think about what message you want to portray to the prospect.

Do you find yourself starting your lines with one of these?

  • “I’ve just raised my fees …”
  • “Actually, my fees are…”
  • “Well, I normally charge this, but for you I can make an exception”.
  • “Do you think (x) price will work for you”.

The above lines are definitely not something we recommend as this does not instill confidence, it makes you sound needy, shows that you do not believe in yourself, and advertises your lack of self-confidence.

For example, instead of saying shyly “well I normally charge $2500 per month but for you, I can make an exception” rather smile and say, “my rate for VIP coaching is $ 2500 per month, when should I send you the contract”.

Fourthly, remember to keep quiet:

 Many people tend to initiate conversation when they are nervous or feel intimidated. This is where the most confidence is required. The ability to have self-confidence and remain silent will make the prospect uncomfortable with the silence. So, remember that when you’re talking about your fees next time, avoid the urge to fill the silence with trying to justify, explain or defend your fees if the prospect doesn’t leap in and say yes immediately. Your job is to be patient here and let your prospect take time to respond.

Keep in mind that speaking with ease and confidence will not land you every client that makes an inquiry. However, by having confidence when you share your fees, in a clear, confident, grounded, relaxed, and professional voice will help potential clients know that you have self-confidence in your skills and therefore they should have confidence in your service or product that you offer.

If you are unsure how to construct your sales pitch and charge what you are worth, then this is for you. Join us as we guide and equip you with confidence and a customized value pricing strategy. At M and J our unique Sales strategy aligns your offerings with your ideal clients’ expectations and skyrockets your net wealth.