Monday, May 21, 2012

What Causes Price Resistance Among Your B2B Prospects and How to Get Around It

B2B lead generation, telemarketingOne of the biggest obstacles we face in B2B lead generation is price resistance from our prospects. This seemingly knee-jerk reaction among potential buyers is partly caused by simple yet powerful forces called emotions. By understanding the role that emotions play in the buying process, we can overcome price resistance and turn leads into sales.

Quite apart from how most of us view ourselves, we’re not perfectly rational beings that arrive at buying decisions through a series of logical steps. Even our prospects in B2B lead generation do not rely on pure reason alone. Emotion and logic both play a major part in price resistance and should be the focus in our campaigns.

One way you can use the factors that affect influence price resistance to your advantage is to change how your prospects perceive your product or service. For example, an accounting department head will always have some price range in mind for a piece of accounting software with a given set of features. Instead of repeating these features over and over again, why not make your prospects feel as if your offer is the best available in the market?

To influence how your prospects view your product and pricing, you often have to compare your offer with another similar but not exactly the same item. In the above example, you could mention the tremendous savings your prospects can have in choosing your software package instead of hiring expensive system developers.

Another effective way to appeal to both the emotional and logical sides of your prospects in B2B lead generation is to increase the value of your product without changing its price. Price and value are two separate things, and the product value should reasonably exceed the price offered in order to be attractive for buyers.

As you can see, one of the best ways of overcoming price resistance from your B2B prospects is through a well-conducted telemarketing campaign. With effective telemarketing, you’re able to directly appeal to your prospects’ emotions and expectations that affect their acceptance or rejection of the price tag your offer carries.

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