Podcasts

All Things Pricing

By Service Excellence Training

May 22, 2020

This week on the podcast, Chris Elmore and Chris Loudermilk discuss all things pricing. Many technicians have issues with pricing or presenting what they perceive as expensive repairs or replacement options. In this podcast, Chris and Chris talk about the reasons you probably might think this. They’ll also give you some suggestions for overcoming these thoughts.

Don’t Apply Your Buying Process.

Most of the time, we apply our buying process, thoughts, and opinions to the situation. We think a customer will react and feel the way we would react and feel. But they probably won’t. You have to forget your buying process, thoughts, and opinions. You can’t worry about the money until the customer brings it up. This means you must recommend the very best option, in your expert opinion, no matter the cost. Think about your doctor. She doesn’t worry about the price in her recommendations after her professional evaluation. She is only concerned about the price when you bring it up. You should be the same.

Know Your Pricing Structure

Another reason we might have issues with the price is a lack of understanding of how the pricing is developed. Ask your manager or company owner to help you understand. You’ll find that there are a lot more costs that go into running a business than you think. This will give you a new perspective and understanding of why you might charge $750 for a $65 motor or component.

Know Your Value

You must also know your value. You are an expert! You have valuable knowledge. The customer must pay for it. Think of all the hours of training and experience you have. That has tremendous value! The customer must pay for it and for all the other things that go into getting you to their home.

Pricing concerns are not only with the customer. You as a technician will also have those. You must remember the three things above and apply those to your process. This will help you get past your pricing concerns and make better recommendations to your customer.

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