How to Deal with Price Objections

Dealing with Price Objections

How often do you hear these objections when presenting potential clients with your estimates: “Your price is too high,” “XYZ company offered to do it for much cheaper,” or “This is outside of our budget”? Sometimes it’s true and you really are outside of their limited (and in some cases, unrealistic) budget, with no way to put together what they’re hoping for in a high-quality way.

But in other cases, this objection is about something else altogether––perhaps certain doubts in the person’s mind––and you can take steps before you get to the negotiation stage in order to help mitigate the risk of a price objection from your potential client.

Here are some tips for mitigating price objection when talking to someone about taking on a new hardwood flooring installation or refinishing job:

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  1. Explain why you charge what you do

Let them know that if your pricing seems a bit high, it’s because you use high-quality materials and the right techniques. Try your best to communicate the fact that by spending this kind of money on getting the floors installed right the first time, they are most likely saving themselves from headaches and spending even more money down the line when working with someone who cuts corners or uses low-quality materials.

2. Present yourself in a professional manner

One doubt in their mind could be about the way you present yourself. To help mitigate this doubt, show up to your appointments on time. Make sure all of your client-facing crew members wear uniforms. Respond to emails and phone calls in a timely manner. If you present yourself as a professional, potential clients will be more likely to treat you as such and respect the budget you set.

3. Create a website with a portfolio 

Show off your work with high-quality pictures of your past projects––a picture is worth a thousand words, especially when it comes to landing new clients. You can also use your social media profiles as a type of portfolio. This is also a great way to market yourself to the type of clients that you want to have: those looking for high quality work. Read our blog post about using social media to your advantage. 

4. Showcase testimonials from your satisfied customers

Display testimonials like a badge of honor on your website and social media profiles. Encourage your customers to fill out reviews on your Google listing and Facebook Business page.

5. Add to your repertoire of certifications with classes and continuing education 

Continuing education is one of the hallmarks of a true professional in any industry. Make sure that you’re up to date on the latest and best techniques for installing hardwood floors, and display this to your clients and potential clients in the form of certifications. One great way to present yourself as more professional and educated than the rest of your competition (and to actually be more educated!) is through our NWFA courses and various training events once the we’re able to host gatherings in person once again. Sign up for our newsletter to get notified of upcoming events! 

In conclusion…

If you’ve taken care of all of the above and still face price rejection from the potential client, you usually have no choice other than to walk away. The same problems you deal with in the negotiation stage with the client will probably manifest later on in the process of completing the project if you do end up working together. It’s usually not worth it to work with someone who undervalues your work or someone who is considering another business that is severely undercutting other bidders and using lesser quality materials and techniques to make up for it. 

Other times, you and the potential client simply aren’t the right fit. You can walk away knowing that there are tons of other projects out there that are right for you, with clients who will pay you what your work is worth.

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