Low price has always been a strong motivator. In today’s world, there always seems to be someone with a lower price. But the fact remains that there’s just so low you can go.
So, you have a couple of choices. You can either join the battle of lowering prices — that no one ever wins – or you can add more value and help your clients see beyond the price tag.
Instead of jumping onto the nickel-and-dime battlefield, look seriously at ways you can justify holding your price – even increasing it. You can do this by adding value, giving more, educating, and becoming indispensable as a resource or provider of products or services!
Sure, no matter what you do, some people will only buy on low price. You won’t change them.
But others can be pulled gently away from seeing only the price tag. They can be taught to appreciate the extra value you bring. When you add free delivery, a free checkup, a free extended warranty, a gift, free gift wrapping, free training, a 30-day money back guarantee, you demonstrate real value that enhances your clients’ lives.
One of the greatest values is to provide education — before, during, and after the sale. This shows your prospects and clients that you take responsibility for their wellbeing. Sure, there are shoppers who pick your brain, mistreat you, and then go somewhere else to buy on price. Many, though, will stick with you as long-term, devoted fans.
In today’s world, the most important intangible we have is time. Our lives are too full, too busy. Consumers want to recapture time. Spending a little more in return for value, service, and peace of mind – knowing they will not have to battle with the low-price leader later on – is a great motivator.
When you take responsibility for your client’s wellbeing by calling to make sure they sent in the warranty card, making sure they had their summer checkup, or by going beyond the call of duty, you win the war.
Have you ever “saved a client’s life” by being available when no one else was? By shipping when no one else could? By being there when no one else was available? So, are they loyal? You bet! Are they your best referral source? Every time!
The more you tout value, the easier it is for prospects and clients to abandon their “low cost” ways and seek you out. They want a reason, too. Low price isn’t the answer. Value is.
