When The Client Asks If You Can Do It Cheaper
I had a fantastic coaching session the other day with a client where we discussed their pricing strategy. đ·đ°
Like most business owners, they were struggling with the concept of building value for their customers and were tempted to fall into the trap of competing on price. đ«
We discussed their category of 1 and started to put together their USP’s so they could confidently deal with price objections. đȘđŒ
I have a separate blog article on great ways to deal with price objections, if that's what you're after then hit the button below and have a read.
Every business is different in some way, shape or form. đ€
It could be your personal experience as the business owner, đźđ»âïžđ·đ»âïž
It could be the combined experience of your team, đ©đ»đł đđ»âïž đ”đ»âïžđ©đ»âïž đšđ»đŸ
It could be that you take a completely unique approach to the job to your competitors. đŠžđ»âïž đŠčđ»âïž
Whatever it is, you need to shout about it! đŁ
There is no point being the best at what you do, if you don’t tell your prospective clients why you are the best. đ
If you don’t tell them, how are they going to know they should be picking you over your competitors. đ€·âïž
There will always be tyre kickers. People who only want the cheapest of the cheap. đ
But do you really want to be working with those people, working really hard, only to cover your costs? đ€
Or, do you want to work for the people that see the value you are bringing to their businesses, their lives and are prepared to pay that little bit more for the peace of mind it gives them? đ€
Competing on price is a fool’s game. đ€Ą
If you have big dreams for your future and are doing this, you may as well forget those dreams and learn to be happy with what you have got right now, because it isn’t going to get any better. đ±
My clients understand this and as a result are now happier in their businesses than they have ever been. đ
They are paying themselves a fair wage for the work and the effort they put in. đ· đ· đ·
Following the session, my client sent me the image I have used for this post.
I think they get it! đȘ
That’s it for today’s business bite.
If you’d like some help finding your category of one so you can charge what you want, rather than what your worst customers want. đ
Give me a shout! đŁ
Something in your business needs to change?
You probably already know more than enough to keep reading about it.
If you want an experienced outside perspective to help you work out what’s really getting in the way — and what to do about it — let’s have a conversation.
