« | Home | »

Price vs. Value Part 3

By Terry | August 17, 2009

Con’d from last week’s article…

Stand out by finding a powerful way to differentiate yourself, or, the only way left to compete is price. Never let that happen. If your business has gotten to a place where it can only compete on price then it’s probably time to get out of the business.  There will always be someone willing to undercut your price. Providing more value than your competition should be your number one priority. Just be sure to communicate to customers how that value benefits them. They will pay a higher price if you’re sincere, and, if you give them what they’re looking for; real value.

Take a look at what you’re already doing. Even if your competitors are doing the same thing, but no one else is drawing attention to it – maybe you should be the first. In my own painting business for example, I’m sure most of my competition would come back to fix something that’s not right even after being paid in full. But few of them ever bring the subject up to the customer hoping that will cut down on the frequency of actually scheduling time to go back to a job. I make it a selling point by explaining to my customers that they take absolutely no risk in hiring my company because we offer a 100% satisfaction guarantee.

John D. Rockefeller said, “Next to doing the right thing, the most important thing is to let everyone know you’re doing the right thing.” Marketing and sales are the lifeblood of your business and is always the best use of your time. Remember every prospect is looking for the best deal. This does not mean the lowest price, it means the greatest value. People will pay a higher price if they understand the value of doing business with you.

Terry Begue is the owner of  Begue Painting and author of the popular e-book, “The Wealthy House Painter’s Guide to Having it All.”  He’s been a successful house painter for 30 years and enjoys helping others start their own successful painting businesses, too. Terry has been published in “Professional Painting Contractor” magazine in spring 2009 for his article “Recession Proof Your Business-Five ways to help your company thrive in a stumbling economy.”

Discover more at: http://www.yourhousepaintingbusiness.com

Topics: Marketing Tips | No Comments »

Comments

« | Home | »