So here’s the thing…
The minute you reduce your price…
You reduce your perceived value.
Whether you’re new to selling or not, the first port of call for *some* guys is to try and barter with you on price.
Not only because they want a “bargain” (I mean, who doesn’t these days, right?), but also perhaps they ask because subconsciously they are testing you to see if you believe in your pricing.
You know why? Because they’ve spoken to sellers before who have given an initial price and THEN reduced it.
And because they’ve done it, you might.
So they’ll ask. Of course they will.
So what do we do?
Well, there’s a few options. The one I’m interested in the most is what we can do as a community of sellers.
Collectively, the more we decide NOT to lower our price and perceived value and our worth… The more we DECIDE not to knock down the price of the sale, the less we’ll be asked to.
If it’s just ‘the way it is’ that sellers don’t drop the price, then the market will learn to appreciate the going rate.
And before anyone jumps on their high-horse I’m not suggesting we all have the same price. Not at all. (If you’re looking for a pricing guide by the way, there’s one in my Resources section.)
What I’m saying is that the more buyers COME TO EXPECT that part of the sale includes a barter and a negotiation, that will just become the norm.
But here’s what I want to share today:
There’s a difference between lowering price and adding value. Next time you feel like you’re tempted to knock off $5, why not instead, ADD ON $5 of value?
“I can’t give you panties for lower than the price I’ve quoted you, but what I CAN DO is add on 5 extra pics to your order.”
When you buy a car from a car showroom, NORMALLY they don’t barter on the price. But what they do do, in order to entice you to buy, is add on floor mats, full valet, upgrade the service plan, give you a different payment option etc.
They don’t just keep knocking off the price until you agree.
Because in your mind, if they keep lowering the price, why is the price that high to begin with…
And sure, they’re eating in to their margin. But still.
To add value instead of reduce price INSTILLS in the customer a sense of confidence in the fucking product.
That’s great salesmanship.
ADD VALUE, DON’T LOWER THE PRICE!!
Test it out. Come up with five things you can ADD ON to yor product rather than take off.
An extra pic set.
A free video.
An extra day’s wear.
An extra additional add-on.
Whatever works for you.
Add on. Don’t subtract.