It just makes sense that you’ll get more business when your product or service is the cheapest, right? But what happens when you’re significantly higher than your competitors. Are you going to get shut out of the market?
Often these days there is someone who is selling a product or service just like yours, but at a ridiculously low price. Maybe you’re offering a service people at Fiverr are offering for $5 (that’s $4 after Fiverr takes their $1 fee!) Right now I’m charging $99 to write your press release, which is the lowest price I’ve offered since 1999. But there are others who are writing press releases for $10, $7, even $5.
Chances are YOUR business is experiencing the same problem. Even though your product is priced as low as you can without going broke, any customer can Google the product and find somebody selling the same product below invoice. That could be because the business is giving away the product to bring more customers in or they’re a BIG firm who buys the product by the millions and gets a huge discount from the manufacturer.
Whatever the case — there IS a way to convince customers YOU have the best VALUE, even if your price isn’t the lowest.
One example of how it’s done is a friend who designs web sites for $70 per hour. A client was about to hire him when they heard of a teenager working part-time charging $10 per hour. My friend explained that when the $10-hour designer made a mess out of their website, the client would have to pay all over again to have a pro fix and design their site the right way.
The client realized paying $70 per hour would be their best VALUE:
* Fewer headaches. Their site would be done right.
* Faster results. The experienced designer would have the site up sooner and ready to do business.
* Better site would mean bigger sales, probably paying for the designer’s fee right away
The client thought why should I mess around taking a chance on saving a little money in the design. What I really need is a good site, done right and quickly, and get on with running my business and increasing sales.
This story is a good example of how you can convince customers your higher price is the best deal:
* Customers can TRUST you to do the job right
* Your better SERVICE will make the price worth it
* You are EASIER to work with
* The customer will get RESULTS
Come to think of it. I think I’ll have one of those guys who writes a sales letter for $7 do their best. Then I’ll post MY sales letter next to theirs. Next to that I’ll feature testimonials from customers who rave about how they trust me, love my service, and find it easy to get results.