So often, in fact more often than not, we are reminded by either customer or the media that price is so important and there is no denying it, it is. But more important is that the customer is getting a ‘good deal’.
You have heard everyone say that your technological pieces are only meant to last a year or so now. Well I put this to you.
“Do you go out and buy the cheapest you can because it is only going to last a year?” No, of course, you don’t!
What I am impressing on you here is that if there are similar products on the market to yours you need to make sure that:
- your product or service is better than the competitor product or service
- that your customers know that it is better
What then may make your product or service better?
- it could be that it is a product of better quality, better materials and more care in putting it together so that it will not fall apart in a very short space of time
- if you are a cleaning business it could be that your client will not have to touch up after you have been there because you have a quality control system
- if you service lawn mowers, it could be that you use the best quality oil and quality, but economically priced replacement parts
Sell The Value Not The Price
You can see by the above examples that you could quite easily justify your higher price and although you may miss the odd sale those that you do make will most likely be to people who will return as customers because of the value you are offering.
As an aside to “Sell The Value Not The Price” if you have recognized this value in your business it could be considered to be your Unique Sell Point (USP) and can be used as a marketing focus for your business. Including in that marketing, as a by-line on your business card, flyers and even on your website.
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