How to Talk About Price or Budget Using Price Bracketing
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- Опубліковано 4 лют 2024
- How do you talk about the price of your services? What is price bracketing? Why should you say a price before you show a price?
In this video, Chris Do talks about the importance of why should say a price before you waste any time creating a proposal.
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#PriceBracketing #PricingCreativity #PriceAnchoring #TheFutur
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Host: Chris Do
Producer: Mark Contreras
Cinematographers/Editors: Stewart Schuster @RodrigoTasca & @Tascastudios MOCS Media
Just attended your workshop in Vancouver and it was an eye opening experience, this is a nice cap to that. Thanks for everything you do Chris! and for anyone wondering what the workshops are like? The magic lies between the lines. These videos are valuable advice but what you recieve in person is invaluable....highly recommend 5/5
Thank you so much.
I would really like to, but for me the money is still a problem. 😢
I'm 100% going to use this application. Very timely and thanks for the share!!
Chris really nailed the concept of price bracketing in this video. A cool trick I've seen work is offering three tiers of service - most clients opt for the middle one, which should be your target service, making the upsell feel natural and client-driven. It's all about guiding the choice, not forcing it.
00:00 📈 When discussing pricing, state the price upfront verbally and use big round numbers to avoid being messed around.
00:39 🛑 Don't be afraid to mention a wide price range; it helps gauge the client's reaction and sets expectations.
01:09 🔄 Use the law of reciprocity; genuinely help people, and it may come back to you in unexpected ways through referrals and recommendations.
01:59 💰 Employ the law of anchoring; start with a higher number to anchor their expectations before revealing the actual range.
03:03 🔇 Address buyer resistance immediately; if there's silence or hesitation, clarify and provide additional context to justify the pricing.
03:46 🔄 When faced with resistance, don't sell; instead, flip the conversation, reevaluate, and propose a revised offer based on the client's budget.
Used this, and closed 2 deals! Awesome sales advice!
Great job!
What I love about this breakdown is - A lot of it comes down to identifying the micro moments that show up over and over in the conversation.
Once those patterns are identified, implementing these great concepts shared like:
Price Bracketing
Anchoring
Law of reciprocity
Asking strategic questions
This idea of starting with the high end price first is scary but also so effective. Thank you for the share!
This video had so much value in it!! And the motion design was amaziinnggg
Great insights. I’m definitely using this tonight. I have a deal presentation with a client. Thank you Chris
Update?
Wow, amazing. Thanks for making this.
Nice tip!!! 🤘
I will watch this video every day for a while. I'm at the point I need to understand this very very well.
Rehearse the words Chris uses aloud. He's talked about practicing feeling OK saying these high-numbers and phrases.
@@aaronglynnwalker honestly, I'd do just that!! Cos I think I'm not yet comfortable saying them
hey loved this one where can ifind the full episode
Great points. Thank you for putting this out there. I have a question: I sell something that is fixed price, it's not a service. How do you see this applies?
i'm having this exact conversation this week, good prep video, love it
Wow
Love the pricing videos but in real life it rarely goes like this, not where I am anyway 😂
How does it go?
Not where you are?
At this point, Chris can make crazy proposals sound like natural conversations. He's amazing ✨
Would it be ridiculous to assume you disagree with the black swan method…. Don’t answer that I just want to support your channel by leaving a comment. Cheers And thank you for your generous sharing
Haha 😂
Seems like you think he doesn’t use the BS method?
@@HowtoRestoreHeadlights LoL that’s a fantastic labor Mr Voss would be proud👍
Okay I have watched this video like 5x and I don't know how Chris Do does it but he make it look to easy 😅😂😂
lots of practice.
❤
I think a common type of question would be "why does it costs so much?" / "What's the differential in it that makes it cost so much?". But then, I think that would be also interesting discussing how to use strategy to maybe show the client he's not a $100k or even $50k type of client yet, or the other way round, being a moderst business owner, how he could grow in his business and start hiring $100k jobs.
As someone brilliant once said, never justify your price.
You can always say, as Chris has said, "For someone like me to do a project like this, that's the cost "
This totally amazing. I went from charging a client $1 for a logo to $500,000 thanks to Chris's Method. I am literally Charging $1 million but tend to Get $500,000. Thanks so much Chris. You are truly an inspiration. You not only changed my life but also my family's life aswell. ❤
Don't wanna discredit anyone but the chances of someone paying you 1 mil for a logo is so slim that my best bet is that you are lying. If you are lying that's not cool 🤷🏾♂️
@@olisano1seems like you think $500k is a small fee to receive?
@@HowtoRestoreHeadlights no it's the opposite I said the chances of someone being paid that is slim not the actual fee but the chances 👍🏾
Thanks for the such a value cris!
I just found your channel recently and I can say, Thank you Chris for this.
But i have a question. When you find out they cant afford you or are looking for more with less pay, and you recommend another vendor for them, how do you overcome that feeling of losing a client to someone else, when there's a probability they can get to the level where they would be able to afford you, but you've moved them to someone else?
How do you handle that mental effect of losing a client and not trying to then shortchange yourself because you want to keep them, with the hope that they could afford you in later deals?
I hope my question is understood clearly.
They’re not right for you. You have to be discriminating as a seller.
@@thefutur Thank you for the reply. But may I ask that you help me understand what being "discriminating as a seller" means?
The thing is, the value of these information and wisdom seems so easy, but not a lot of people are practicing it.
People are afraid to lose clients, which creates this limitation and they start doubting themselves. I say just practice these techniques that Chris is talking about and do not be afraid to lose a client, a better one is waiting for you if you just be consistent.
This is fantastic advice. Thank you!
on freelance platforms sometimes it ahppens that you would charge like 2-3k for a projct where client is ready to pay like 200$ xD
This is super valuable
i will implement this thoroughly
What if the prospecting client asks, after you've given them an anchor, "What determines the lower end of that price and the higher end?". If we're pricing by value, do we now need to explain deliverables?
It depends on scope.
Can’t believe there are creators out there who are missing out on nuggets like these.
Whole facts ‼️
Future is a mind blowing salesman
😅 I really didn’t understand the last part. The difference between Joe’s question “What price would work for you?” And Chris’s question “how much can you afford?” Can anyone help me here 😮
Im just starting up a photography business and im stuggling with setting pricing. This feels like it will help me start somewhere and move up to some better numbers.
Why is joe saying 60k-30k is way out of budget but then says he can afford 45k? It literally makes me not understand the overall tactics/method (I understand anchoring) and it feels like a scripted role play... As if any client would say that
This is great advice but as a south african influencer, we usually get these conversations "via email" -- so how would I reduce buyer resistance in an email conversation
Great question i am curious about it too
All just sounds like PROSPERITY GOSPEL. Most dream they can do it but in reality its same same
Robotic Asian dude 😂😂😂
The guy: what kind of number works for you?
Chris : what can you afford?
I don't get it... it's basically the same right. What difference does it make? I want to understand... can somebody explain
Too big numbers given here. Bring it back to earth for the common freelancer
What’s a normal number for you?
@@thefutur it's more for the majority of freelancers I mean. You can look up statistics about those averages. You are right to encourage high bracketing, but there is the other element of the market and realism to bring in to the equation. These examples may be for your media firm but bear in mind more freelancers watching this are not owning a media agency. Also more detail could be given if you are taking about a year contract or not involving wider staff, most freelancers are not doing such large projects. Provide examples of small scale projects that a freelancer is more likely to deal with in their early stage, to help those starting out Encouraging unrealistic pricing could set them up for failure. They need to check the market rate and shoot above that though, for sure.