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Add You - Lowering Your Price Could Cost You a Sale
All of us have heard of marketing professionals. Some of us have even worked as marketing professionals ourselves. And some of us have probably heard of marketing agencies. But how many of us can, in all honesty say that we have heard of the term marketing consulting? I for one hadn’t. Of course I had heard of consultants and IT consultants to be more precise, but I had never before heard about marketing consulting as a field and what’s more, had
Defend the price you have set because you know that your product is worth every penny. Have confidence and enthusiasm for your own product. If you believe in what you sell, your customer will, too.
5. It leads to buyer’s remorse.
Customers want to feel confident in their purchase and know that they received the
Why is it a good idea to start a home business? Taxes. There are a lot of tax deductions that help lower your tax bracket. Working from home is a great way to make money, save money and keep your money.1. If you have to order every month in order to receive your check then the products are deductible. 2. Start up costs, like memberships are deductible. 3. Utility costs are deductible. Keep in mind only a percentage is deducti
Here’s the truth: You will make more sales by NOT lowering the price of your products.
Why?
There are many factors that influence a customer’s decision to buy, and price isn’t the most important. The problem is that YOU think it is. Focusing on price actually distracts your customers from what is most important to them, and diminishes their motivation for buying.
Here are five reasons why lowering your price could lead to a lost sale:
1. It makes you look like your competitors.
Do you really think that your claims of having the lowest price will make you stand out? Every other salesperson says the same thing. Everyone claims to have the lowest prices because they think it will get the customer’s attention.
Well, price is really the least effective differentiator in business. The only way to look different from your competition is to act different, and offer something that no one else can offer. A lowered price won’t cut it.
2. It distracts you from your customer.
Price does not determine the sale; your customer does. That means that your attention should be completely on them. Everything you do should help you understand and connect with your customers to discover their motivation for buying.
Customers search for a product that is the best solution to their problem. They understand that a product cannot be the lowest priced and still be the best. Making the sale requires that you find the best solution, not the cheapest.
3. It decreases the perceived value of your product.
Before every purchase, a customer considers, “Is this worth it?” The answer depends on the value of the product, not the price. If they can envision themselves using and benefiting from the product, the answer is yes and the purchase is made.
Without value, a product won’t be sold at ANY price, so don’t limit your customers to the dollar amount. Establish value by helping them imagine how useful and enjoyable your product could be in their daily lives.
4. It questions your integrity.
Customers will not buy from you if they don’t trust you; and they definitely won’t trust you if they feel that your price is dishonest. Lowering the price of your product suggests that your product is not really worth what you are asking for.
Defend the price you have set because you know that your product is worth every penny. Have confidence and enthusiasm for your own product. If you believe in what you sell, your customer will, too.
5. It leads to buyer’s remorse.
Customers want to feel confident in their purchase and know that they received the
One of the keys to successful marketing is identifying what makes your business unique and letting everybody know about it. This helps your prospects to understand why they should buy from you rather than your competition. When used successfully, it makes your product or services the obvious choice. This is often called a USP or Unique Selling Proposition.The best USPs consist of unique concepts that set your business favorably apart fr
1. It makes you look like your competitors.
Do you really think that your claims of having the lowest price will make you stand out? Every other salesperson says the same thing. Everyone claims to have the lowest prices because they think it will get the customer’s attention.
Well, price is really the least effective differentiator in business. The only way to look different from your competition is to act different, and offer something that no one else can offer. A lowered price won’t cut it.
2. It distracts you from your customer.
Price does not determine the sale; your customer does. That means that your attention should be completely on them. Everything you do should help you understand and connect with your customers to discover their motivation for buying.
Customers search for a product that is the best solution to their problem. They understand that a product cannot be the lowest priced and still be the best. Making the sale requires that you find the best solution, not the cheapest.
3. It decreases the perceived value of your product.
Before every purchase, a customer considers, “Is this worth it?” The answer depends on the value of the product, not the price. If they can envision themselves using and benefiting from the product, the answer is yes and the purchase is made.
Without value, a product won’t be sold at ANY price, so don’t limit your customers to the dollar amount. Establish value by helping them imagine how useful and enjoyable your product could be in their daily lives.
4. It questions your integrity.
Customers will not buy from you if they don’t trust you; and they definitely won’t trust you if they feel that your price is dishonest. Lowering the price of your product suggests that your product is not really worth what you are asking for.
Defend the price you have set because you know that your product is worth every penny. Have confidence and enthusiasm for your own product. If you believe in what you sell, your customer will, too.
5. It leads to buyer’s remorse.
Customers want to feel confident in their purchase and know that they received the
This to enlighten who that think they are getting back at credit card companies, when in reality they are hurting local businesses. The media blitz is always on the consumer. How credit card fraud effects the seller is never the focus. Due to these inadequacies, those of us running businesses are fed up. We are tired of only hearing how the consumer is effected. What about the many legitimate businesses that are getting ripped off by consumers.
Price does not determine the sale; your customer does. That means that your attention should be completely on them. Everything you do should help you understand and connect with your customers to discover their motivation for buying.
Customers search for a product that is the best solution to their problem. They understand that a product cannot be the lowest priced and still be the best. Making the sale requires that you find the best solution, not the cheapest.
3. It decreases the perceived value of your product.
Before every purchase, a customer considers, “Is this worth it?” The answer depends on the value of the product, not the price. If they can envision themselves using and benefiting from the product, the answer is yes and the purchase is made.
Without value, a product won’t be sold at ANY price, so don’t limit your customers to the dollar amount. Establish value by helping them imagine how useful and enjoyable your product could be in their daily lives.
4. It questions your integrity.
Customers will not buy from you if they don’t trust you; and they definitely won’t trust you if they feel that your price is dishonest. Lowering the price of your product suggests that your product is not really worth what you are asking for.
Defend the price you have set because you know that your product is worth every penny. Have confidence and enthusiasm for your own product. If you believe in what you sell, your customer will, too.
5. It leads to buyer’s remorse.
Customers want to feel confident in their purchase and know that they received the
Hooey! Horse Pucky! This has to be the most asinine statement to ever come out of anyone’s mouth. If you believe this nonsense then please just start writing us checks for a hefty part of your profits, because that’s what you are essentially doing.Do you have a “George Costanza” wallet that’s obscenely thick because it’s stuffed with fifties? Do you use hundred dollar bills as fire fodder? Are you in the business of giving people ridicul
Before every purchase, a customer considers, “Is this worth it?” The answer depends on the value of the product, not the price. If they can envision themselves using and benefiting from the product, the answer is yes and the purchase is made.
Without value, a product won’t be sold at ANY price, so don’t limit your customers to the dollar amount. Establish value by helping them imagine how useful and enjoyable your product could be in their daily lives.
4. It questions your integrity.
Customers will not buy from you if they don’t trust you; and they definitely won’t trust you if they feel that your price is dishonest. Lowering the price of your product suggests that your product is not really worth what you are asking for.
Defend the price you have set because you know that your product is worth every penny. Have confidence and enthusiasm for your own product. If you believe in what you sell, your customer will, too.
5. It leads to buyer’s remorse.
Customers want to feel confident in their purchase and know that they received the
Everyday more training software developers and vendors join the world of IT providers, companies and individuals who usually fall into two categories: those who develop applications, and those who provide learning solutions.Because of the need for IT professionals, there is an uncontrolled growth of vendors, which goal is to provide the right quality computer based training. NETg, Learnkey, CBT nuggets, Career Academy, CBT Direct and CBT s
Defend the price you have set because you know that your product is worth every penny. Have confidence and enthusiasm for your own product. If you believe in what you sell, your customer will, too.
5. It leads to buyer’s remorse.
Customers want to feel confident in their purchase and know that they received the best value for their money. Lowering the price for your customer puts them in a situation where they feel haggling is necessary. They will question their purchase and wonder if they should have pushed you harder to lower the price.
Even though it seems you saved them money, they will probably feel ripped off. This will make them uncomfortable with your business and less likely to come to you in the future.
When you lower the price of your product, you are limiting your sales strategy to a dollar amount. Price becomes a dominant part of the conversation ONLY because YOU have made it one. Focus your attention and sales presentation on what really matters: the customer, the value, the uniqueness of your company and your product. When these things are put first, price will always come second.
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