Price is NOT the Decider YOU think it is
written by john c ashworth
Most small business owners will have an immediate reaction in disagreement with this idea. Mostly as a result of their direct experience trying to sell to the wrong prospects, a lackluster sales presentation, and fear that is driven by their own set of troublesome belief systems.
So, let’s start with the easiest real life example.
You can certainly find lots of other options out there for phones, tablets, laptops and computers. And yet…EVERY single time I visit the Mac store here in town, it’s packed. Seriously…every time I go. Of course, I probably don’t have to work that hard to convince you. You might even already own an iPhone or Apple product of some kind. Personally, I invest in Apple products because the extra money I spend is more than worth the overall experience with both their service and my day-to-day interactions with their technology products. I’m happy to spend the extra money.
The truth is that the majority of buyers of any product or service actually do prefer to make their decisions based on criteria other than the lowest price.
Here’s the trick…
Buyers will only be willing to forgo price in favor of paying more when they are given a good reason to do so. In other words, they must be presented with a powerful and persuasive value proposition that stirs their emotions and motivates them to invest in your solution to their problem.
Small business owners love to blame buyers when they don’t buy. The real truth is that if folks are not buying they are either the wrong prospect for the products and services you offer; and/or you have not done your job in identifying and stirring-up the problem, and therefore, have no real good opportunity to build that value proposition and present your solution.
It’s YOUR fault. Not theirs.
So, instead of bemoaning the situation and ignoring your ignorance and your responsibility to fix it, let’s get to work.
Sure, some people and prospects will ALWAYS buy the lowest price, but in my experience, a whole lot more will buy your stuff, pay more, and be a whole lot happier as a result. Also, I don’t want to work with the customers who are only concerned about getting the lowest price. They’re not that much fun to work for.
When I was selling cars, the happiest customers we worked with at the Lexus dealership were those who paid more for their cars, invested in more of the aftermarket products, and who placed a lot more emphasis on their overall luxury car-buying experience rather than getting caught-up in trying to save a few thousand bucks. They had plenty of money and were not at all shy about parting with it as long as they felt they were getting the experience they desired and deserved.