Everyone wants a bargain. When we shop, we always look for
a “good deal” because want to receive maximum value for our
money. The key to building your business is to know how
your customers measure a “bargain.”
When we buy a product where the features and benefits are
virtually identical, a bargain is almost always measured in
terms of low price. When we buy a box of corn flakes, for
most of us the brand makes little difference. We want a low
price and will often buy the brand that is on sale.
On the other hand, when we are buying a product or service
where we believe quality, reliability or other essentials
could vary widely, price becomes secondary. Who shops for
the cheapest surgeon?
Many professionals and small business owners make a mistake
in trying to compete on the basis of price, when they would
be far better off emphasizing the qualities that their
customers actually value more than price.
Everyone can recall choosing a restaurant because of the
atmosphere, superior service or extra attention we
received. For a special occasion (like Valentines!), we may
drive many miles and pay extra to be sure we will get a
"bargain" in terms of a delightful experience.
To increase your sales, survey your best customers to find
out exactly why they buy from you, then emphasize those
features or benefits when marketing to new prospects. Most
of us hire our attorney, our accountant, dentist and
physician for reasons other than low price. Perhaps
location and convenience were critical factors, or the
recommendation of a trusted friend may have been important.
Perhaps they have a specialty we value, or we may have been
impressed with their competence.
The same principles apply in selling your services! Find
out how your customers define a “bargain” and focus on that
unique selling proposition every time, with every single
client.
a “good deal” because want to receive maximum value for our
money. The key to building your business is to know how
your customers measure a “bargain.”
When we buy a product where the features and benefits are
virtually identical, a bargain is almost always measured in
terms of low price. When we buy a box of corn flakes, for
most of us the brand makes little difference. We want a low
price and will often buy the brand that is on sale.
On the other hand, when we are buying a product or service
where we believe quality, reliability or other essentials
could vary widely, price becomes secondary. Who shops for
the cheapest surgeon?
Many professionals and small business owners make a mistake
in trying to compete on the basis of price, when they would
be far better off emphasizing the qualities that their
customers actually value more than price.
Everyone can recall choosing a restaurant because of the
atmosphere, superior service or extra attention we
received. For a special occasion (like Valentines!), we may
drive many miles and pay extra to be sure we will get a
"bargain" in terms of a delightful experience.
To increase your sales, survey your best customers to find
out exactly why they buy from you, then emphasize those
features or benefits when marketing to new prospects. Most
of us hire our attorney, our accountant, dentist and
physician for reasons other than low price. Perhaps
location and convenience were critical factors, or the
recommendation of a trusted friend may have been important.
Perhaps they have a specialty we value, or we may have been
impressed with their competence.
The same principles apply in selling your services! Find
out how your customers define a “bargain” and focus on that
unique selling proposition every time, with every single
client.
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