How to Use Price Conditioning to Boost Sales

Price conditioning refers to the process of preparing prospects or customers for a particular price point or pricing strategy, with the goal of increasing receptiveness to your ideal sales price. 

To be effective, price conditioning generally must be on the “high side.” Remember, if you are selling a $35,000 project, it should be perceived in the customer’s eyes as being much more valuable than this. 

Here are five techniques for incorporating price conditioning strategies into your sales process: 

1 | Set a reference point.  

Inform customers of the general reference points for pricing in their area. You could say, "Many homeowners in this area invest between $X and $Y on similar projects, but the exact cost can vary based on the specifics of your home and preferences." 

2 | Highlight value while explaining the difference between investment and cost.  

Remind them that their project is not just about aesthetics, but rather an investment in their home’s future value. At the same time, it’s important to explain the difference between investment and cost. You could say something such as, "While the initial cost may seem significant, the upfront investment will pay off over time in increased home value and energy savings." 

3 | Offer choices while emphasizing premium features.  

Remind prospects that there are a variety of options and price points for products they may choose for the project, so you can work within their budget. However, make sure to also emphasize premium products and services your company offers that can increase the overall value of their project as well as your bottom line. 

4 | Compare quality and reinforce value throughout the presentation.  

Acknowledge that, while there may be lower-priced alternatives available from other companies, your company’s products and workmanship offer a higher level of durability or performance. Carry this theme and reminder throughout your presentation so potential customers do not lose sight of the importance of high-quality work, even if it comes with a higher price tag. 

5 | Discuss financing options.  

Prospects need to know how they’ll be able to pay you for the work done, and offering multiple ways to pay can increase the likelihood of signing on a new customer. You could say something such as, "We offer flexible payment plans that can help make the investment more manageable for your budget." 

Remember, the key to successful price conditioning lies in consistently reinforcing the quality, durability and long-term benefits of your offering, ensuring that customers feel confident and informed in their purchasing decision.