We live in a world where people are very cautious about how they spend their money, and they are swift to object that “your price is too high”. So you wonder if you are selling value or price.
This desire for rock-bottom prices is the reason there will always be a company that will try to sell their product or service at a lower rate than their competitors.
But as business owners, we have to ask ourselves: am I selling value or price? It is something we need to consider.
Rather than focusing on price, we need to focus on maximising the perceived value. Make sure that customers understand that it’s not just the product or service they are buying.
But they must also consider the research and development and the ongoing support you will give. The certainty of on-time delivery, your company’s history and reputation. The resources that went into your product or service. These factors are worth a lot! Therefore, you need to make sure you educate your customers on this.
Despite your best efforts, you will not convince some customers. So what are you going to do when your potential customer says “No”?
You need to realise that they have a choice and if they reject your product or service, that is not a rejection of you as a person.
Neither will a single rejection mean that other potential customers would not see the value in your product or service. So ask yourself again: Are you selling value or price?
Do you want me to assist you further with this? Schedule a meeting with me today. I will be glad to help.