How would you answer when a client asks you for the best price? Would you go lower or stand your ground? How do you leverage your value on a situation like this? I’m bringing in David Negri on the episode today to share with us some strategies to help you answer this question the best way possible.
David owns a paint contracting business and he also hosts his own podcast called Contractors Secret Weapon Podcast where they help contractors learn more about sales and marketing and driving output.
Here are the highlights of my conversation with David:
The biggest challenge David has faced:
Being asked for his best price
Strategies David has done to overcome this question:
When asked for his best price, David gave his client two options of either bringing the price down or upgrading the quality of his paint and extending the warranty to two years. The client went for option B.
The coolest thing was when they finished the job, the client gave them an extra $600. If you can prove to them that the value is there for the money they’re spending, then they’re going to go with it.
You’re selling on the value and not on the price. When you go in knowing that you’re going to bump your price up 10% and give them a 10% discount, you’re basically lying to the customer on the premise that you want business.
David’s Major Takeaway:
Just go out there and be confident in what you have and who you are. Whatever you have, you’re going to provide them value and not sell on price otherwise you become a commodity. Just get away from price.
Learn more about David on www.contractorssecretweapon.com.
Get a free audio book download and a 30-day free trial at audibletrial.com/tse with over 180,000 titles to choose from for your iPhone, Android, Kindle or mp3 player.
Value base pricing is a revolutionary idea where sellers are able to price their product or service, based on the buyers perceived value. Kirk Bowman is a very successful entrepreneur who has mastered this principle and adopted it in his organization. Over the space of two years; Kirk saw a 79% increase in revenue. This concept will aid any seller and business owners as they grow their business.
Here are some of the take aways from our discussion:
Come and listen to more great tips from Kirk. Simply click play below or check us out on iTunes or Stitcher.