Thoughtful Thursdays – Your price is too low
Last week your price was too high and this week it is too low. In both cases, without due diligence on you part a potential customer can be lost. Go figure! It starts to sound like Goldilocks and the three bears, or a game show from the past. You start asking yourself, “will my price ever be just right?”
The thought today is about how low price can be just as big a barrier to making sales as much as a high price.
Are you skeptical at any level when a price sounds too good to be true? How does it affect your buying decision?
- Have to check it out just in case it is all true
- Ignore it as it must not be able to meet needs – will it still be in the back of your mind?
- Think it must be a lower quality product or service
I have found that too low a price for the most part ends up wasting my time. I check it out, and that is good for the supplier, but it soon turns into a less than good experience as my information was correct and what I need is not going to be had at the low price.
Don’t assume your potential customer is not thinking the same way. They may call to check it out, but if they find the product or service offering is not right for them, you are taking a chance of wasting their time. This is rarely appreciated.
So if you think that below market pricing is the way to go, please think again. All the adages will run true, including you get what you pay for.
Be confident in the value of your products/services and price them accordingly.
Good selling,
Richard
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