Now many will tell you that when a prospect says something along these lines we haven't clearly communicated the value of the service we are selling to include a few other things that I won't bother delving into.
Why do I believe it may be a self esteem issue?
Because I believe that many prospects who really think or feel that you're pricing is to damn high have some core self esteem issues and they project that onto other businesses services or products. They also tend to be the business who is lowest in pricing in their market as well and that's because they don't understand that pricing isn't always just about the "service".
It's also about the education and years of experience dedicated to becoming an expert and because they have low self esteem they place minimal or no value on this at all so they don't factor that into their pricing.
On the flip side of the coin, if you're offering services and they are priced cheap or inexpensively consider the possibility that you may also have some level of self esteem issues and don't even realize it.
Lets use an example in regards to a service we might offer.
Perhaps we are offering to set up a WordPress site for a client and install plugins and then optimize the site for their niche.
Well personally I charge a minimum of $500 to install a WordPress site and many people will say I'm ripping off the customer because it's a very simple task right?
Yes it is a simple task once but I had to "learn" how to do it as some point right?
So what I'm charging for isn't the actual steps or physical work I perform to actually install the site, I'm charging for my knowledge!
For example, I'm charging because I learned that once a WordPress site is installed the first thing we should do is create a new administrators account and then immediately delete the default "admin" account.
Why? Because I know that the "admin" account is the most used user name used by hackers trying to break into peoples WordPress through brute force.
How did I learn this? The hard way... haha but that's knowledge! Knowledge that my prospect doesn't have, knowledge that my prospect benefits from by having "ME" provide the service.
Consider this for just a moment! If you are offering services and charging on the lower end of the spectrum you may have a self esteem issue and could be attracting prospects that suffer from some level of self esteem problems as well.
So back to why the price is to dam high and how it can be a sign of self esteem issues in a prospect.
Really the core of it is that they don't value their own self worth and that automatically gets projected onto any product or service they are considering buying.
We can help them have an ah ha moment by asking some simple questions about themselves and their business such as...
How long have you been in business as such and such?
So, being in your business now X years has made you an expert, is that expertise truly reflected in your pricing to your customers even if your pricing is just marginally higher then your competitors?
or... and this is sorta ballsy...
Have you considered that you don't value your own knowledge and years of learning which can help your customers avoid the pitfalls they may experience if they don't do business with some one as authoritative as you are?
We're trying to convey this concept and apply it to their business and if they get it and understand that may indeed could be charging more guess what happens?
Their pricing issue with your product or service vanishes because you've made them realize that you're pricing isn't just based on some tasks your going to complete but also on your expert experience!