If Nobody Complains About the Price, It's Too Low (Here’s Why)

marketing Sep 05, 2024
Pricing Your Product / Service

When it comes to pricing, it’s easy to fall into the trap of wanting everyone to say, "Wow, that's such a great deal!" But here’s the catch: if everyone is nodding in enthusiastic agreement and you never hear a peep of resistance, your prices might be waving a giant red flag—too low.

It's human nature to feel uneasy when people push back, but in business, a little bit of pushback might be a good thing. Why? Because complaints about price can be the unexpected signal that your pricing is actually right where it needs to be.

Let’s break it down.


1. The Value Perception Paradox

Think about it this way: when you price too low, you’re signalling to your audience that your product or service is worth... well, less. Even if you’re offering incredible value, your low price could create the wrong perception.

People often associate price with quality, and if no one ever questions your rates, it could be because they assume it’s not worth as much.

When customers push back, they evaluate your product or service seriously. They see value but are weighing whether it's worth the investment. If the price wasn’t high enough to make them stop and think, it might not be enough to show your offer's true worth.


2. Pricing for Your Target Audience

Let’s be real—your product isn’t for everyone. So if you’re hearing no resistance, it might mean you’re catering to the wrong crowd, the kind that values cheap over quality. The key is to price for your ideal customer—the one who will see the value and is willing to pay for it.

When you start getting the right kind of pricing feedback (“That’s a bit expensive, but…”) it’s a sign that you’re hitting the sweet spot for the people who really matter to your business.


3. Covering Your True Costs (and Then Some)

Pricing too low may indicate that you are barely covering your costs, or even worse, losing money. If no one is objecting to your prices, it might be time to reassess your margins.

To grow a sustainable business, your prices must account for more than just your materials or time. They need to reflect all the behind-the-scenes effort, the quality of your work, and the value you bring to the table.

Remember, every dollar you leave on the table now is a dollar you can’t invest back into your business.


4. The Psychological Advantage of High Prices

Oddly enough, higher prices can make customers feel better about their purchases. It’s called the “price-quality heuristic”—the belief that higher-priced items are of better quality.

You might find that once you raise your prices, you not only attract higher-quality clients but also reduce your stress, as they’ll often be easier to work with.

If no one is batting an eye at your prices, you’re missing out on this psychology. People want to feel like they’re investing in something worthwhile, not just grabbing the cheapest option on the shelf.


5. Pricing as a Filter for the Right Clients

A little price pushback helps you filter out the people who aren’t a good fit. If you’re priced too low, you might find yourself dealing with clients who demand more for less. And those customers? They’re often the most challenging to please.

Setting a higher price filters out those bargain-hunters and ensures you’re working with clients who value what you do. So, the next time someone raises an eyebrow at your price, take it as a sign you’re speaking to the right kind of customer—one who respects your work.


TL;DR: Let the Complaints Roll In

In short, if you’re not hearing any price complaints, it might be time to rethink your strategy. The right level of discomfort from your customers isn’t a bad thing—it’s a sign that you’ve found a pricing sweet spot that reflects your value, filters out low-quality clients, and allows you to grow.

So, instead of fearing complaints about your pricing, lean into them. They're not telling you your prices are too high—they're telling you they might finally be just right.

 

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