When They Only Care About Price

May 2, 2018

cost too much

“Why didn’t they buy from you?” I ask.

“It cost too much,” they answer.

Could this be your most insurmountable obstacle to making the sale?  It’s actually not.

“It costs too much.”

We don’t talk enough about pricing, yet it’s one of my favorite topics.

Listen to me—the odds are outstanding…OUTSTANDING …your products and services DO NOT cost too much.

Frankly, we find the opposite is usually true.  You don’t COST ENOUGH.

Your price is generally not the issue.

We’ve all bought things that didn’t cost the least.  You’re not driving around in the least expensive car on the market.  You’re not purchasing the least expensive clothes available.  You’re not pinching your pennies and only buying food from the cheapest source.  You’re not drinking “Two Buck Chuck” wine (ever, I hope).

If you’re not buying the cheapest things out there, neither are you customers.

The problem rests with you–you didn’t establish the value of what you are selling.

For every purchase your customer makes they weigh the cost against its value.  And who’s responsible for establishing value?

You (ya, ya…I know you knew that).

Yes, you have competition, and it’s growing.  Yes, people might be tightening their belts based on where you live or what you’re selling.

None of that reduces your requirement to lay out the value of what you are offering.

Value isn’t some vague, nebulous thing.  Value gets established by recognizing and building in several components to your offering:

  • Appeal (I want this because it takes away my headache, my pain/problem/issue/challenge/ concern/obstacle)
  • The outcome of buying this “thing” (their problem—as they see it—goes away)
  • Exclusivity (I can only get this from you—only you can take away my headache)

You can see what your job is, right?  Build in appeal, a client-desired outcome, and exclusivity.

And if you don’t, the client will decide those things for themselves—and they will most likely be wrong.  And then those disappointing, nasty words will be uttered…

“It costs too much.”

When you don’t.

Stop telling me about all the features of your “thing.”  Or all about the service.  Or all about you.

Your customers don’t care about you, your service or its features…yet.

They care about themselves.

They care about what you will do for them, how you will change their life, how you will take away their headache (the headache they want taken away, not the one you want to take away).

I’m not talking about spin, or hype, or fluff, or hypnotism, or twisting anyone’s arm.

I’m talking about the clear creation and then communications of the value of working with you.

How about ending the whole discussion of “It cost too much” in favor of “Okay, when do we start?”

Go forth and do great things,

Martha Hanlon and Chris Williams