One Way To Eliminate Price Resistance

One Way To Eliminate Price Resistance

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That’s how you want to make it seem to your prospects so that they’re never comparing you apples to apples with a competitor.

Here is an example of how it works…. When offering information products we’re continually looking at ways to add value. Sometimes it’s as simple as a transcription of CDs and DVDs quickly turned into a manual and CD/DVD package. We prefer to turn it into a manual because a book is easily compared to another book…and books are worth $20 to $30 as opposed to a manual which could easily be valued at 5 times that amount. Besides, we now have a pack to offer, not just CDs and DVDs.

If you try and deal with price resistance by arguing in favor of your higher quality, your better service, etc… you’ll find it difficult to make sales most of the time.

People DO want superior quality goods and services, but are still not keen to pay premium prices for the privilege.

Many marketers fight this battle unnecessarily – it is much easier and much more effective to switch the standards of comparison. For example, winning by comparing oranges to apples and then throwing in the superior quality at no extra cost.

When you’re in a head to head battle selling situation with a competitor, this technique can still be used.

When consulting to a client who‘re-manufactures’ car parts to shiny new, we were faced with this apples to apples competitive bidding warfare. Simply it was too easy to be compared to a competitor. Something had to change, and it did!

Simply, I switched them to the customer loyalty model of when you buy 5 the 6th one’s free. This was regardless of how long it took them to buy 5 units – a tally was kept. What it did was get the buyers excited and eager to order more and more with a prospect of getting the 6th one free. And more importantly keeping all the profit on the 6th purchase.

Clearly we were no longer comparing apples to apples…it was now apples to oranges with outrageous financial reward to my clients. The competitors are still trying to work out what happened – in fact…they think my clients gone nuts….yeah…all the way to the bank. Where possible, never allow your product to be compared apples to apples. The ease of the sale will depend upon it.

Best Regards,
Mal Emery

Committed to Elevating the Financial Wealth and Wellbeing of Society Through Entrepreneurial Excellence and Guilty of Conspiracy to Create Capitalism.

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