During a recession, some people are very fee or price focused.
The next time someone tells you that they would love to use your services or buy your products, but they have found a cheaper alternative, ask them a version of the following question:
“If someone you loved needed heart surgery, would you go for the best surgeon you could afford or the cheapest surgeon you could find?”
This type of question is superb for focusing people’s attention on the importance of quality over ‘cheap!’ Obviously, you can use less emotive alternatives to the one used above. The key is to focus them on the importance of value.
Hey, Jim… Great post to spark some thought on how to sell and/or do business in “these challenging times.” However, my experience has been that on the street, this kind of approach isn’t always effective. In a troubled economy, and in a small market like the Maine city in which I live, even the most logical and salient arguments can’t easily overcome the power of the dollar.
My solution when faced with the “the other guy does it cheaper” objection has been to match price (when feasible), and provide a better product (i.e. a better value) for the same money. Then I’ve secured a long-term client who trusts me, believes in my product, and who will refer me to others.
Of course, there’s also the matter of caring about your customer(s), being a good listener, being an honest businessperson, and over-delivering on your promises — to me, the biggest part of the “value” you discuss, and the most important factor in gaining and keeping business through tough times, and beyond.
Thanks, as always.
Hello Brett,
What if ‘cheapest’ was clearly shown to be most expensive? People want value – they want to get the biggest ‘bang for their buck.’ If they believe paying 25% less for something is likely to cost them 50% more in real terms, they will always buy the better product.