Worried That You Charge Too Much?
A long time ago, but not in a galaxy far, far away (it was Telford, actually…), I was running a little ads deal for £50 a month.
I’d pitched to a business owner whose final decision was, “I can’t afford it at the mo.”
A few days later I bumped into her in the queue at the petrol station. She was buying fuel and cigarettes. We got talking and I asked her how much cigarettes were, as it had been a long time since I’d given up.
“About £8 a pack,” she said.
“And how many cigarettes do you smoke?”
“A pack a day.”
Her smoking was none of my business. But it was obvious that whilst she “couldn’t afford” to pay me £50 a month for an ad, she could afford to spend £240 a month on cigarettes.
When someone says no to your product/service and claims it’s because of your prices, chances are, it’s not.
It’s because you haven’t made it clear enough WHY your product/service would solve their pain.
Just like me and the business owner in the garage. I hadn’t shown her clearly enough how me running an ad for her would have been the most cost effective way of generating more sales and therefore putting more money in her pocket.
Accepting that responsibility is hard. It was a real wake-up call for me. It even made me wonder whether I was indeed charging too much, which is nuts. £50 a month? C’mon. I simply hadn’t done my job properly. It ISN’T how much you charge, unless of course you genuinely are ripping people off.
It’s like when people say you’re too expensive. What they really mean is either a) they can’t afford you (which they’ll never admit) or b) you haven’t conveyed your VALUE. There’s a massive difference between money and VALUE. And, as business owners, we have to focus on marketing the latter.
Hardly anyone can afford to buy a house. But they do. They jump through hoops to get a mortgage on which they pay interest over two flippin’ decades. They want it bad because the world and his wife has been telling them since childhood that there’s value in owning your own home.
You don’t have the luxury of telling people from their childhood why your product/service is awesome. You have maybe one or two website visits, one phone call or one meeting. That’s the challenge.
If you find the marketing of your value too much of a challenge, get in touch via codebreak.co.uk and we’ll give you some quick & easy wins for free.
Until next time, stay hungry.
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