Hogwash!
That's what I say to people who tell me that their business is purely and solely a "cheapest price business."
People who stubbornly insist that "MY business is different" are right, but not in a good way.
Their business is different because it will never make big money.
People who are unwilling to open their eyes to BIG ideas are solidly parked right in their own way... their own BIG obstacle to success.
Big money is made by translating great ideas from outside your industry -- whatever it is -- into your industry. What gives you your competitive edge is a unique selling proposition (USP).
That's the key... not your low, low price. (Although in some instances your price may be part of your USP.)
Recently, I was consulting with a client and I was explaining my opposition to selling by cheapest price.
She insisted that hers was an intangible, not a product; that my examples didn't apply to her business; and that, basically, I had my head up my butt. I tried to explain in terms I hoped she'd understand:
So the critical question is:
"Why Do People PAY MORE For Some Services When The CORE SERVICES Offered by CHEAPEST PRICE Competitors Are Pretty Much The Same?"
"Debbie," I told her, "You've gotta understand: value differences don't have to come from the 'core' item."
It doesn't matter whether you're talking about a product or a service. Value differences usually come out of areas of expertise and service such as:
"And Debbie," I explained, "it's a hell lot easier to make money by selling half as much at double the price. Does that make sense?"
It made sense to Debbie and I hope it makes sense to you! Just to make sure, I'm going to give you...
5 QUICK-TURN TACTICS for closing BIG TICKET deals
#1 - Compare apples to oranges.
"Tired of dragging out a bulky food processor and guessing which attachment is the right one for the job? The compact Ultimate Chopper is 4 machines in 1 so you can replace your food processor, coffee grinder, standing mixer and ice cream maker and gain more counter space in your kitchen." (Ultimate Chopper)
#2 - Decrease the price by adding valued component parts.
"Bring your spouse for FREE! Yes, not only can you come, but you can also bring your spouse for FREE. This is a ,995.00 value by itself." (Real Estate seminar)
#3 - Identify the unique, invaluable aspect of your product.
"Quite honestly, the majority of currently available bodybuilding training and nutrition information today is never going to produce gains for 98% of the population.
"The pros simply have much better genetics for building muscle and are taking massive amounts of anabolic drugs...I'm not a "Mister" anything. I've never won a title.
"I'm just a guy who after 22+ years of trial and error has figured this stuff out and can relate to the plight of the genetically average trainee. I absolutely know what works for genetically average bodybuilders who want to maximize their potential. I know exactly what the average guy has to do to make muscle mass and strength gains as fast as genetically possible." (Bodybuilding)
#4 - Make the high price itself a benefit.
"Organic foods are more expensive because production is more labour intensive and without herbicides, pesticides and other chemicals, the yield is generally smaller." (Organic food)
#5 - Break down the big amount into smaller amount.
"Valuable legal services for less than a cup of coffee a day, from top law firms! Protection for you, your family or your business!" (Pre-paid legal services)
If you are going to use "lowest price" to get your foot in the door to acquire a new client, then the race is on to "switch" that newly acquired client from price orientation to value orientation BEFORE somebody finds 'em and offers to beat your price.
The Lesson: You CAN charge more for your stuff as long as you're showing you client that even though she's paying a premium price, she's getting a good value. Think "added value." Think "golden handcuffs"; benefits/service so good I won't walk away from it, even for a lower price.
Copyright 2004 Quick Turn Marketing International, Ltd.
About The Author
Dan Lok is the World's First Quick-Turn Marketer, with a proven track record of selling over 17.3 million dollars of merchandise and services. He's the rebel copywriter who's created hundreds of money-making ads and sales letter for over 39 different industries. And now, you can get inside the head of one of the world's top copywriters without paying a dime at www.quickturnmarketing.com
custom home cleaning Wilmette ..Last year, trillions of dollars transferred hands on the internet... Read More
Contrary to popular belief, small businesses can survive a crazy... Read More
In a world full of complications sometimes we overlook the... Read More
Why? Because they have access to world class public relations... Read More
Are you a small business owner who wants to expand... Read More
If you are in a franchise and have a territory... Read More
As a business owner, you already know how important it... Read More
There are many choices when thinking about a small business... Read More
It is essential that you fully understand how the fuel... Read More
The resume writing service serves an important role in the... Read More
Q: Is the online world the best place to sell... Read More
Get maximum results with minimum effort. Sounds great doesn't it?... Read More
Which questions do you need to ask to even get... Read More
"If at first you don't succeed, then skydiving definitely isn't... Read More
Many people ask how many graphs or charts they should... Read More
-- Building Credibility Through Success Stories --Successful solo entrepreneurs spend... Read More
Do you own a franchised business? Over 400,000 franchised businesses... Read More
It's obvious when a small business has accepted the fact... Read More
How do you find groups that are in need of... Read More
A recent survey showed that only 28.7% of small business... Read More
Does your company have a community relation strategy? Have you... Read More
TACTIC #1 -- Never simply slash your prices, unless you're... Read More
The Dynamics of Daylight Savings Time changes the way we... Read More
Seventy percent of US households use the web when shopping... Read More
There are almost as many opinions and views on marketing... Read More
same day cleaning service Morton Grove ..Ok, you have successfully accomplished your dream of being the... Read More
Disclosure laws in franchising are suppose to help the consumer.... Read More
Do you spend every waking minute in your business? Do... Read More
You want to know more about making money with your... Read More
Essentially there are 5 tremendously powerful methods to make money... Read More
Have you ever wondered what the difference is between a... Read More
If you don't know what a Virtual Assistant (or VA)... Read More
During the California Recall Election, I was very interested. Without... Read More
If you plan to do business online, then your website... Read More
Take advantage of world politics today and start your own... Read More
What would happen if you decided to take an extended... Read More
As long as you eat and breathe you will stay... Read More
Over regulation of small business is so intense it is... Read More
Summer is a time for the outdoors, for that well-deserved... Read More
The choice of financing is an important determinant of whether... Read More
Every business plan book tells you how the Executive Summary... Read More
Q: A friend told me that as a woman of... Read More
Pressure washing companies must look for customers in the retail... Read More
When the recent Games of the XXVIII Olympiad came to... Read More
That sizzling sound you're hearing may be a symptom of... Read More
Debt collection letters--an overview"Debt collection letter" in the singular may... Read More
When someone owes your small business money, you certainly feel... Read More
Security Professionals provide the products and services necessary to create... Read More
As you may know, there are many ways to incorporate... Read More
Rule 15C211Under SEC Rule 15C211, a U.S. securities broker or... Read More
Small Business |