Use 'Value' to battle 'Pricing' conversations.

Formulae
​4 simple steps to use Value and limit Pricing issue

​Many of our Client's fail to execute this one thing very well:  Underpin their Value ... and that always results in Price Wars > Which results in less Conversion Rate (less enquiries or sales per 100 visits).

​ON THIS PAGE: 

1. A Simple 3 Step Formulae - focus on Value and limit Price as a determing factor.
2. 2 Example Case Studies - Service sector and Trade sector.
3. Tips on Actioning the Formulae - 3 reasons people fail at communicating Value.

Mouse-over these images to get you thinking!

A SIMPLE FORMULAE FOR YOU

... albeit brief; the following key points ensure how you avoid pricing pitfalls and convince the buyer by communicating 'Value' - and charge your worth (often more £ than your competitors).

1. Postpone the Pricing Conversation
   1. Explain that a pre-assesment is ALWAYS the best way forward, for the right plan & pricing.
   2. If pushed, you should be able to give some kind of price range. Refer back to 'offering to look at their job' either for free, or if complex at a price - perhaps refundable upon engagement of said job.
   3. Explain other higher value packages that you offer (bigger jobs with better value); and possibly as Spread Payments (eg.They pay monthly and upon full balance you commence work).
      
      
2.  Quickly steer conversation to Value & Benefits (extroardinary benefits).
   1. What do you do differently to others that your prospect is likely to speak with?
   2. Does your equipment differ?  Does your service differ? (flexibility etc) 
      
      
3. Educate your prospect (be it over the phone, website or in person).
   ... often, we buy something from someone because we believe in them. Do the following to win confidence from your prospect ...
   1. Teach them something they probably don't know about their problem or reason for enquiry.
   2. Explain a couple of similar situations you've come across and what your fix or result was.
   3. Explain some great aspects to you, your characteristics, your trustworthy background.
4. Ensure a Clear & No-Risk Next Step.
   ... Don't leave a conversation open based on price, be sure to send or give this person a simple next step should they wish to proceed (it's yet another 'something' that you're competitors likely aren't doing). 

IN SUMMARY
Be it on the phone or in person, tell the buyer:

1. It's important to thoroughly understand a job to get the best result and to avoid problems.
2. How you differ from others they'll speak with.
3. And teach them something they should know about their issue to hand.

Example Case-Studies

​SERVICE BUSINESS (Consultancy) : OUR MARKETING BUSINESS

1. THOROUGHLY UNDERSTAND OUR PROSPECTS
   We explain to our Prospect from the outset that prior to meeting we undertake an Analysis & Directional Report - this provides both parties for a far more meaningful first meet (if required).
2. HOW WE DIFFER & LOVE TO HELP
   1. We usually Save or Make Money for our prospect before they engage or try us.
   2. We insist 'the best thing for them' is firstly an Analysis & Directional report.
   3. We offer interest free payment plans as default - so to help our customer.
   4. We follow-up our promises when we say we will.
   5. We send our Prospect Tips & Ideas; before, during and after.
   6. We are generous with our time.
   7. We teach them a few things about their issue (see next)
3. TEACH THEM SOMETHING
   1. We explain common issues they're likely experiencing (this forms a bond),
   2. We explain likely cause of those issues (for them to feel clearer in their head)
   3. We give tips on key aspects to look out for when speaking with others
   4. We give tips on the best mindset or approach to limiting or resolving their issue at hand.
4. WE DON'T SELL - BUT WE OFFER A VERY VALID NEXT STEP.
   1. We give (email out) clear and simple Next Step (Risk Free Guarantee) - Nobody wants to be 'Sold-At'; but we all love Clear & Simple options.
   2. We make it easy (very quick & simple) for someone to engage us.
   3. We also send out payment options by default (allowing our prospect to choose to take us up on it or not).

SERVICE BUSINESS (Trade) : CARPET CLEANING COMPANY

1. THOROUGHLY UNDERTSAND THE PROSPECT
   Explain why a FREE pre-assesment is best for them, why you suggest such when others perhaps don't. Likely ways in which this will very much help your prospect.
2. HOW WE DIFFER & LOVE TO HELP
   • Your equipment is likely key in this sector. What 'cheaper equipment' means for your prospect's carpets / underlay / result etc.
   • Your flexibility and manner of service will likely differ to other trades (make sure it does).
   • Perhaps give some guarantee?  Some businesses give a discount if not doen within agreed timefreame (think Pizaa delivery companies; especially in USA).
   • Your background likely differs and they'll remember you / subconciously connect with you over the others they're likely to speak with.
3. TEACH THEM SOMETHING
   1. ​Explain common issues they're likely coming across,
   2. Why they've come across theses issues
   3. Some tips on what to look out for when speaking with others
   4. Suggest best practice Considerations and/or the right Mindset & Approach for their issue at hand.
4. DON'T SELL - BUT GIVE A CLEAR & SIMPLE 'NO-RISK' NEXT STEP.
   1. Once you're in front of the buyer or they've committed to something with you, then you'll very likely go on to win the sale.

HOW TO ACTION THE ABOVE
... a simple way you can try the above.

Most business owners or decision makers fail to do the above because they don't do the following...

1. Make time to Get clear on what the above points are for your business, product or service.
   ... eg.Take a couple of hours (seriously) and make some notes, so you are clear on what you'll try in your next prospect conversation.
2. Prepare a Webpage, Flyer or even an E-mail Template that clearly encompasses the above (tailored to your offering obviously).
3. Be open-minded to trying something different with your businesss - try changing 'What you do' and 'How you do it' (eg.Try a new flexible approach to payments etc).

3 things - ​That's it!
In our experience, these 3 things are THE reason 'Value' is not being conveyed 'enough' in your business.

We'd love to hear from you: Get in touch(or comment below) if you want to discuss the above, anything else to do with your business, or even your personal mindset on getting things done!