Tuesday, October 22, 2019

Price vs. Quality vs. Value

March 2, 2010 by admin  
Filed under Pricing

If you’re assuming that you lose clients based on your price, think again. You may want to create a survey and ask your clients what the real reason is as to why they are not using your business. Most people have the ability to pay more, but when they look at the price tag, they won’t pay more because of the perceived value they believe they are receiving, or lack thereof.

Why might they not do business with you? It rarely has to do with price. As a society, we are taught not to hurt people’s feelings and therefore we tend not to be honest about what we are feeling. Customer’s may tell you that the reason they don’t want your products and services is because your cost is too high.

That is much easier than being honest and telling you they just didn’t like you or they didn’t feel there was value behind what you were offering, or that your quality compared to the quality of XYZ brand, quite frankly, sucks.

Make sure you find out the real reasons behind why clients are not choosing you.

Bottom LineWhen you dig deeper to find out what motivates or doesn’t motivate a client to do business with you, it helps you improve and fix what’s wrong. If you assume it’s “X” and it really is “Y”, you will be stuck in the same position and spend energy and money trying to fix something that ain’t broke.

Think about how different prices affect your clients’ perception of quality. Learn to sell with feeling and find out what’s below the surface when it comes to your clients objections. Never take it at face value. Remember that they are human beings and human beings are complex creatures. You will save many an order this way.

Time Commitment: Create systems in your process for surveys to be conducted throughout your client interaction that reflect and allow clients to share honestly with you about their experiences and where improvements can be made. Ask them few, but important, questions that elicit responses that help you create a better value-experience for them and help deliver the quality that they not only expect, but that you consistently surpass.

  • http://www.eoutdoorsolarlights.com Glenda

    Just found your site and can see that your marketing ideas could be applied to just about any type of business. The comments about price points and surveys are very relevant to my business. Keep the ideas flowing.

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