Everybody loves a bargain – even people who are proud they’re able to afford to pay top dollar.
Getting a deal makes us feel all warm and cozy inside. We found something special. We did a good job. We’ve got something to show for it. We won.
But when you’re having a sales conversation with a new prospect – and they’re considering buying your service or product – what are they seeing? A great bargain, or just the lowest price?
Can You Afford to Have the Lowest Price?
Experience and history show that people looking for the lowest price are notoriously fickle. They may say they like you, but they’ll drop you like a hot potato for the next person who offers to save them another five dollars.
Are you building your business on being the lowest price? If so, I have some bad news for you. Bidding the lowest price is rarely a sustainable model. There is always going to be someone cheaper.
People buying on price alone are rarely concerned about quality, support, or your sustained business (even if they say they are). When you hear them say they are, I encourage you to take that kind of feedback with a grain of salt.
How to Start Being a Bargain
The strategy to begin moving away from the lowest price model is straightforward. You need to start finding out what else is important to your prospects and clients.
Is there anything besides price that is really going to impact how they decide how much to spend and who they’re going to work with?
How do you find that out?
Simple. Ask them.
Take Action – Make This Your Own
- Commit to finding out what makes a difference to your buyers – beyond price alone.
- This week start asking your prospects how they’re going to make the decisions they need to make – how much to spend, with whom, and when?
- If you’re feeling uncomfortable asking these kinds of questions, find an experienced mentor who can help you craft them for your product, industry, and personality style.
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Share a comment – what are you hearing that’s important to your buyers besides price?