Never Lower Your Price
Add Value Instead
Negotiating on price alone is a race to the bottom with no winners. It is absent of value.
Businesses that continue to lower their prices will eventually need to compromise on quality and service to stay viable.
Customers who are only looking for the cheapest will turn to competitors as soon as they find anything cheaper.
The solution is to shift them towards value.
The below statements are some ways to bring the discussion to the theme of value:
- You are right. It is pricey because it has X, Y, and Z that no other product/service offers.
- Yes, it reflects the superior status of our customers as they get astonishing results.
- Of course, our next-level customer service in incomparable.
- You are right. It has the best reputation in its category.
- Yes. Most customers love the scalability feature that helps them grow.
- Indeed. The return on investment is 5 times within 12 months.
- You are right. This is the best product/service in the marketplace. Let me present the numbers.
- Correct. We can remove some features/modules and reduce the full version.
Conclusion
It is hard to resist the yes-activators that revolve around status, ease, recognition, ROI, flexibility, reputation, and scalability.
The same applies to writing. The value lies in the aspects of convenience, entertainment, encouragement, insights, tested ideas, mechanisms, tools, techniques, and shortcuts.
Thank you for your time and attention. 👍