Raise Your Prices, Raise Your Income

Price as a Competitive Advantage?(part 2)

?“The more you focus on the value of your product or service, the less?

important the price becomes.”??~ Brian Tracy

Price is one of five ways (Price, Quality, Service, Delivery, Sales Effectiveness) to give yourself a competitive advantage.??Price will also help to positively differentiate yourself in a very crowded marketplace.

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Price makes a statement, a very strong statement.??And it applies to everything, from ordering at a restaurant to choosing a vacation to buying a watch to purchasing a car or house – anything.??Perception is always reality.

If I mentioned I had a new 2023 Mercedes-Benz S-Class 500 parked in my driveway and would let you have it for $50,000, the first thing you’d ask,?(if you knew the base MSRP is $115,000),?“What’s wrong with it?”.??The second thing is “Is it stolen?”??Price does make a statement.??A very strong statement not only about the quality of what you are selling, but also about the very advisability of even buying it.??

This is important:??if your price is too low, the Buyer thinks there may be something wrong with it.??Perception of value is thoroughly covered in?Step 3?–?“Build a Solid Foundation”?of my?“88 Days to Six Figure Earnings”?private sales coaching program.?

Now, on the flip side.??If I told you I’d sell you the Mercedes for $125,000.??You would probably at least want to know what makes a car cost/worth $125K.??You want to see it, sit in it, drive it, and find out why anyone would pay that price for that or any car.

Many times, when Buyers hear or see “lowest price” their brains are translating that as “cheap”, “lower quality”, “lower value”, “fewer years of equipment life”, “obsolete”, “headaches”.??When they hear or see, “higher price” they are thinking “better quality”, “better value”, “greater prestige”, “peace of mind”.??And with a higher price, you should at least have the opportunity to consult and explain to your Buyer the value of that price, just as in the Mercedes example.??

People are curious and want to be educated.??(Which is another reason why you should ALWAYS present the proposal in person, as opposed to email.??But that’s a lesson for another day).??

Professional Salespeople always sell value not price. They always educate their Buyers as to the various pricing options and what makes up a higher price.???When you fully believe, and are fully committed to your products and services, and the value they offer to your customers, you’ll never offer the lowest/cheapest price again.??And your income will drastically increase as well.

Buyers will only buy your product(s) and/or services if they believe that the value they’re receiving is greater than the price they’re paying.??

Next time, Quality as a Competitive Advantage.

For more success tips to become a high-earning, Professional Salesperson, visit?www.dreamcatcherus.com.