Do you value the price?

A bit cryptic –Yes, purposely

To a lot of businesses their selling price rules, but is that all, your customer is looking for – a low price if so, I suggest that they are not a valued customer.

 

There is that word value(ed) again, for in reality that is what we all are looking for when we make a purchase – VALUE.

 

Don’t believe me, well why do some of the large supermarkets sell their own branded product under the label of ‘value pack’, because they know that is what their customers, you and me, are looking for.

Principally value is the top criteria when purchasing after meeting their needs not the price.

 

From your side as the seller, what are you gaining?

A new customer, on-going purchase from an existing customer and was it profitable for if it wasn’t it is a waste of time and money for you. We are all in business to make money and if you cut your prices it goes straight to the bottom line and reduces your profit.

 

As has been mentioned before sales, is about building relationships with your customer/client and from that will come knowledge of your customer and his needs. If you have built that relationship the selling/purchasing cycle is not a gladiatorial contest but a discussion on meeting their on-going requirement and needs. You are valued as a supplier.

 

Think about it.

Recall your discussions with your top customers and tell me when the price was at the top of the agenda in your discussions. I think you will find it was very seldom.

 

Written by Mike Vaughan

Mike Vaughan

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