I’ve talked before about people being motivated by more than price when it comes to making a purchase. It’s the reason why we don’t all drive round in something truly awful that looks like it came free in a box of cornflakes, and why we don’t spend our evenings sat round the dining table with our nearest and dearest tucking into a Pot Noodle…
The question for many though, is if you’re trying to sell pretty much what everybody else is, in pretty much the same way – how are the customers supposed to discern between what you have to offer and what everybody else has, except by price?
Well the answer I hope would be reasonably obvious. If you set yourself up so that what you have to offer is not really comparable to anything else, price simply does not become so much of an issue.
One answer is to ‘go gourmet’ – to present a product or service that has much more to offer than your competitors either in quality, results, support or service. The simplest way of achieving this is by making sure that what you have put together is made up from only the best ‘bits’ available, or tweaking it over and over again so it now out-performs what others have.
After all, I’m sure that in the past you’ve happily paid extra for something that you were truly confident would not fall to bits after five minutes because it’s been done ‘on the cheap’ or for the pricier model that will save you a bit of time and effort over the cheaper models ?
You must never underestimate the power of excellent service and support, either. People will nearly always pay a premium to be assured that they can buy and a) actually receive what they have asked for, and b) not be left floundering if there’s a problem.
Let me give you a quick example, and if you ever shop on eBay I’m sure you’ve actually done this too…
There’s something you’ve had your eye on and a couple of sellers have it. One is more expensive but has 100% Feedback and lots of glowing comments … the other seller has several negative strikes on their record and a host of comments about late or non-delivery and very poor communication – but is only half the price.
Which would you choose? I’m sure most of us nearly would pay more for the item from the seller with the 100% feedback.
This brings me to my next point … and a very important one it is too – when you have added your particular ‘gourmet’ quality to your product or service, make sure everybody knows about it. Lead with it whenever you communicate with your customers … let them know what’s special about what you have to offer and why it’s better or different than what they can get elsewhere.
Make a big thing about the fantastic results your customers have achieved using your product or service … encourage your customers to leave feedback and testimonials then put them in pride of place so your prospective customers can see what you have done for others.
That way, when the customer looks at the price, they are judging it purely on what you have to offer and not what everybody else is throwing at them. You are placing yourself in a unique position, to offer a good product or service, build a relationship with the customer and ‘lock in’ mutually beneficial repeat business for years to come.
Until Next Time,
Publisher, Tim’s Business Lowe Down