3 Essential Strategies for Technology Solution Providers to Use When Bidding for Work
You just met with a potential client. They want to start working with a technology solution provider soon, and they’re interested in hiring you.
But then, you tell them the price of your service, and they seem concerned. You can tell they’re on the verge of backing out and going with one of your cheaper competitors.
What should you do in that situation?
Read on to learn the best strategies to handle prospects who hesitate because of your price, and you’ll be much better equipped to land clients – even when you feel like you’re caught in a bidding war.
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1. Stick to Your Rate
You may be tempted to discount your services so you can close a deal, but you should only do that on the rare occasion that you’re desperate for business. Even then, you should only offer a small discount.
Because your price is your price for a reason. It’s the amount that will cover all of your expenses while still turning a good profit. So if you lower your price significantly, you’ll end up overworked and underpaid.
On top of that, a client who lowballs you from the start may just be looking for the cheapest rate they can get, which usually means that they don’t see the value in what you do. In other words, they aren’t going to be the best long-term client for you.
2. Show How Your Firm is Better Than the Rest
If you’re having a hard time landing a client, but still want to get paid what you’re worth, why not try showing how you’re better than the other technology solution providers they’re considering?
Do that by explaining why your service is more suited for their business and talking about how you will use your extensive experience to solve their specific problems. Make sure they feel comfortable with you, too – building rapport with a potential client can make all the difference sometimes!
If they still object to your price, let them know that you charge that amount so you can afford to provide the best service possible. The point here is to make them understand that they’re going to get the best return on their investment if they choose your firm.
3. Consider Including Add-ons
Some prospects may be hesitant to hire your firm because they don’t see enough value in what you do.
What’s the best way to combat that issue?
Raise the perceived value of your service offering by including add-ons.
Start by thinking about other services you could include in a client’s package for free, and add the ones that are most appealing to that client. Just make sure you don’t include too much, or you’ll end up overworked and underpaid. At that point, you might as well have lowered your price from the start.
Always remember that you need to play the long game to build a successful business, and that means working with clients who are willing to pay a fair price for your services. Keep the strategies in the post handy next time you’re trying to land a client who is on the fence about working with you, and you’ll have a much better chance at winning their business without lowering your price.