Do you believe your clients buy on price? So you feel you have to keep your prices low to win the deal? Or that they’ll negotiate you down hard?
My name’s Rashid Kotwal.
I’m constantly surprised at how widespread this belief is. And I can assure you that nothing’s further from the truth.
Price always comes down to a perception of value. Both yours as the seller as well as theirs as the buyer.
Starting with you. The first sale is always to yourself. You must believe you provide value for what you charge.
And then communicate it in a way that your prospects agree.
Here’s a quick example from one of our mastermind participants. She needed a retaining wall built and got three quotes. $10,000, $20,000 and $40,000.
So which do you think she took?
It was the $40,000 job. When asked why, she said she felt really comfortable with the vendor. He showed her how his solution would allow another car into her carport. And that she just liked him and trusted him. So she felt she was getting great value.
Speaking with other clients who sell everything from financial planning to construction and air-conditioning systems, each one reported their clients never just bought just on price.
Price also communicates value. A dentist colleague reported that a client had queried his low price for a crown and wondered if he was any good.
So ask yourself if your prices are too low and what message you’re sending to your market.
Then if necessary raise them.
Your clients will pay them and you’ll make far more profit which is why you’re in business in the first place.
Wrapping up, if you’ve found these tips useful, please like, comment and share them. And there are hundreds more like them at our site, RevealedResources.com.
Till next time, this is Rashid Kotwal.