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Too many people in both sales and marketing get hung up on price because they believe that price is foremost in the mind of the buyer. Yet, study after study has found that price typically ranks dead last among the reasons people buy what they buy. (And where they buy it.)
What do buyers value more than a low price? Things like:
1. Accuracy
2. Beauty
3. Being treated well
4. Cleanliness
5. Color choices
6. Comfort
7. Consistency
8. Convenience
9. Customization
10. Design
11. Durability
12. Ease of use
13. Efficiency
14. Energy savings
15. Environmental friendliness
16. Fast delivery
17. Freshness
18. Fun
19. Generous return policy
20. Healthiness
21. Less maintenance
22. Lower operating costs
23. Newness
24. Novelty
25. Painlessness
26. Power
27. Quality
28. Reliability
29. Risk reduction
30. Safety
31. Social impact
32. Speed
33. Style
34. Taste
35. Trustworthiness
36. Warranty/guarantee
So rather than focus on price, look at this list and determine which items apply to your company, product or service. Then build your marketing campaigns and sales presentations around those. Refer to those items when comparing your offerings to your competitors. Use them to overcome price objections.
When you emphasize the qualities that deliver real value to your customers, you’ll be able to close more sales. And you’ll be able to do it without discounting or price matching. Because the above items are what your buyers truly want.
What else do you value more than low price? Share your thoughts in the comments below!
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