Costs are an unavoidable subject in appointment setting. It may not matter how advanced or how much beneficial data your BI software can deliver. If the price tag is a little too high, it might scare off a prospect. On the other hand, perhaps the greatest obstacle are those who are not scared off but are very critical of the pricing.
How Appointment Setting Deals With This Defense Mechanism
You see when a prospect (or even a regular consumer for that matter) sees a high price tag, you can either:
- Let them bolt – This is why you should caution your marketers to not get everyone too excited. Sometimes being honest with price can be the best way to filter out those who lack the budget to qualify for appointment setting. Disappointing it may be, it at least saves you enough time.
- Try to calm them down – You can also just try and ask for just one minute. Perhaps it is just a knee-jerk reaction on the prospect’s part. Give them the courtesy of explaining why the costs are so high but the benefits are worth it (if not more). Who knows? Maybe they will change their mind and end up among your BI leads!
Both are actually valid options but in either case, the defense mechanism is simply that of flight instead of fight. It will be a different challenge altogether if your prospect opts to fight instead! This is as common in wildlife as it is in business. Animals generally flee from something of much greater size. An exceptional few though would bare their fangs, roar out savagely, and fight until the bitter end.
You have to admire prospects like that but for all that respect, you should not forget that these critics do not hold back. Your appointment setting strategy will be badly compromised if your marketers end up fumbling during engagement. In fact, it sounds ironic that your price ends up scaring prospects only to have it run headlong into a prospect who intimidates you in turn. Neither should you forget that they are still people and are willing to accept aid if your software can really prove to be helpful.
Now when justifying the cost of your product, a few common defenses would be:
- Higher quality – As the saying goes, you only get what you pay for. But if your prospect thinks they are paying a lot, that should mean you need to give a lot in turn. Show them just how far you are willing to serve and provide for that particular sum.
- Price of development and creation – Some prospects can be more knowledgeable about business IT compared to the rest. They might even get curious enough to know the finer details of how much of development, production, and implementation is tied to the cost. This can be the greatest blow or your greatest advantage to appointment setting if you can transparently show why you cannot give for free.
- Poor quality of cheaper alternatives – Inversely, you can objectively criticize the alternatives that are commonly sought by those seeking to drive costs down. While minimizing expenses is a good idea, cutting corners is not. This a universal truth for many business processes whether it is B2B appointment setting or BI software.
In short, focus on the clear connection between costs and quality if you want to defend costs and turn price critics into BI software leads.