July 17, 2024

You Got To Be The Lowest Price – Not!

If you have been in business for any length of time, you have gotten the call or visit from someone who tells you that your prices are too high and need to be lower if you want their business, because x business is lower and you need to be lower than them.
Well, that has happened to me a number of times. By the way, I have been told to raise my prices; just today a client for whom I printed  posters for said he thought the price was too low and would have paid more than twice the amount I charged him. But that’s another marketing tip.
I checked out one of my “low price” competitors, and I found that for a lot of the services I give my clients as part of my service, they either charge extra (making then all of sudden not the low price competion) or will not provide the service.
What I also found was that I did not do a good enough job of explaining what differentiates my company from the “low price” competitor. Let me give you an example: I know someone who always wants the lowest price, who is always running real late with their work so that we’ll have to rush (I’ll have to work late into the night or on weekends) to get it out on time, plus we have to work on their layout to make it all fit. Of course when I explain all this and that is figured into my price (which is only slightly higher than the competitor’s), I get “if you want the job, then you need to be lower than them.” I did not get the job, but because my competitor charged extra fees, they still did not get the lower rate they wanted.
But unlike them, most people do not shop on price; they want quality and they want service. They want someone who cares about them and their job. And in most cases they will pay for it as well, as long as you explain why you are different from all the rest and deserve the prices you charge.
Till Next Week –

 Remember – Great Things Happen, But You Have To Take Action, NOW!


P.S. I have a way to keep your name and message in front of your customers and prospects all year long … Interested? Then contact me.