The competitor you're losing to on price
"We got a quote for half that." Now what?
Price competition is a race to the bottom. You can't win it, and you shouldn't try. But walking away from every price-sensitive prospect leaves money on the table. The middle path is helping them understand what "cheap" actually costs - and whether that trade-off makes sense for them.
The scenario:
A prospect is comparing you to a significantly cheaper competitor. You need to reframe the conversation without trashing the competition.
The prompt:
You're competing against a lower-priced alternative.
Context: [paste what you know about the competitor and prospect situation]
Create a response framework that:
- Acknowledges the price difference without being defensive
- Asks questions about what's included in the cheaper quote
- Highlights hidden costs and risks without fearmongering
- Quantifies the value of what you provide differently
- Helps them make an informed decision (even if they don't choose you)
Include specific questions that expose common gaps in cheap proposals.