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Business Tips

Win Clients with Value vs. Price

By March 22, 2023July 23rd, 2023No Comments
NAWBODC BusinessTips Price is what you pay. Value is what you get.

NAWBODC Business Tips – Price is what you pay. Value is what you get.

“Price is what you pay. Value is what you get.” –Warren Buffett.

I love this quote because it truly describes what marketing is all about. If your prospects are complaining about your price or you aren’t getting the sales you think you should, they likely don’t understand the value of what you are providing.

This is why it is so important to stress the benefits and quality outcome and not just features. When customers understand the value of how they will benefit, how their lives will be improved and why you are the ideal person/company that can help, they’ll be willing–and even eager–to pay your fee, even if others providing the same product/service are offering it less expensively.

Ask questions first. Many people skip this step and go straight into their presentation. Get the prospects talking about what they need. Once you know their pain points you can specifically address them. It’s easier than making a general presentation.

Demonstrate relatable case studies of how you helped others, showing the problem and solution. Examples in their industry are helpful, but not necessary.

Promote your experience and expertise. Why are you the right person/company for the job? Trust in you adds value. Explain how your process is easy or simple. If it seems difficult or convoluted, prospects will hesitate. Describe their clear path to success. Having a systemized process helps.

Ask for the sale! Many people go through their presentation and never ask for the sale.

Have confidence. You know you have something to offer that can help your potential customers. Instead of pushing your product or service at them, pull them towards you with reasoning, benefits, and value they can’t refuse. Of course, there are always people looking for the lowest price. They’re not your target customer. For those who understand the value, price is less important.

Article submitted by NAWBO member Linda Barrett, a former corporate director of marketing and owner of All the Buzz Creative, offering Clio Award-winning copywriting, marketing and PR services.