Only $38000 for this little Marc Jacobs number!
People just buy on price and that is why we can’t make money!
WRONG! To paraphrase Jimmy Page ‘it is like breaking wind in an elevator – wrong on every level!’
People DON’T buy on price alone! I’ll grant you that price comes into it, but not the number one reason people buy from you.
All things being equal people buy from people they know like and trust.
“All things NOT being equal, people STILL buy from people they know, like and trust (Jeffrey Gitomer).”
So why do we get fixated on price? Fear has a lot to do with it. Fear of failure. Fear of being rejected. Fear of being humiliated. Fear of going broke. Fear of being taken for a ride and ripped off. Plus, as many other fear factors you want to imagine and convince yourself of.
People buy VALUE or perceived value. Personally, I find it bizarre that women, (or their indulgent partners) spend incredible amounts of money on handbags. I don’t see that price comes into it, apart from them wanting to buy the most expensive handbag on offer. The buyers of these products see perceived value, and hence the sale is made.
Clearly, if you want to make money and not go broke you need to look at the viability of your product or service, and of foremost importance, whether there is a niche or unique place for it, in your chosen market. You need to be able to charge more than what it costs.
You need to produce VALUE!
Don’t expect people to buy from you if you are not giving them substantial value.
Slick marketing, manipulative brain techniques or brainwashing, trickery and other dubious practices may achieve some short-term results, however ultimately that proverbial pack of cards will fall over.
What your buyers are looking at is value or perceived value, and if you can deliver that to them honestly, within a given time frame and they know, like and trust you, then you are well along the path to a sale being made.
Recently, I needed to change my Tax Accountant having persisted far too long with my last one, who had consistently let me down on every level. I didn’t care what her hourly rate was; all I wanted was her to do the job, proficiently, honestly, keep the ATO happy, and let me get on with my life and do what I do best. Price was a factor but a low consideration.
I know that in my business if I keep uppermost in my mind – provide these clients with the maximum value that I can each and every time, they happily pay their bills on time every time. I have a personal discipline – ‘find my fee fast’. Doing that, provides my clients with peace of mind, reassuring them that they are better off knowing me and working with me, than without. If you are turning over clients like crazy, grab a mirror and look hard for the culprit. You are not providing value or perceived value, if you are losing clients far faster than industry standards.
Recently, I was subjected to a ‘business coach’ conducting a coaching session unprofessionally (on every level), in a public place and within both my earshot and another business owners. Apart from being appalled at his lack of professionalism, and his equally awful ‘business coaching’ which we were unwillingly subjected to overhearing, I would be totally surprised if he held onto that client for more than a couple of sessions! On checking my data, I keep my clients on average 3 years. One client I have had off and on now for 10 years. Could I still do better? Of course! That is why I have a Business Coach because I am better off with him, than without him.
If you are looking for a Business Coach, I have a very limited number of spaces available, and happy to speak with you and ascertain whether it would be a good fit. I only take on people who fit certain criteria, and who I know that I can genuinely help.
Get in touch right now, because what have you got to lose? More importantly, what have you got to gain?