Context is important. From conversations you have to stories you tell your friends. Context is what makes everything makes sense. In sales it’s no different. Even after the budget has been determined it’s still possible to sticker shock a customer and lose the sale. In order too avoid that, it’s important that the price you’re presenting has context.
Showcase your value with proper context. It’s crucial.
A $20,000 watch without context is just an overpriced Timex. But, when you assemble the watch by hand, with precision parts, crafted from premium parts, in a luxury environment, now you have some context for the price. Next, you show off the product, the pieces that go into it, the way you assemble it. Then you have a beautiful watch that screams luxury.
So how do you translate that to your company? How do you show off that you’re a premium or high end service in a way that would make fancy watch makers jealous? Context. Your pricing should have a break down, if you’re going to charge $2,000 or $20,000 for a logo or a website you need to know why you’re charging that much. Who needs paid? How many hours go into each step of the process? If you’re pulling a number out of a hat, then you’re definitely doing things wrong. But it’s not fair to your employees, your company, or your clients if you’re not ensuring that they’re getting the best possible results for every step of the process.
You know your work process. Start by laying out a start to finish process for you and your team to review. Then you’ll start attaching a time and cost to every step. This is the pricing that your customer should be seeing as they move through your sales funnel. Slowly introducing them at every step of the way. Your customers don’t need to know the minute by minute break down of the process. However, they do need to know that your price (either high or low) will result in them getting exactly what they’re needing. It’s your job to convince them of that.