What makes something a “great deal?”
It has something to do with price, but it surely is in price alone. You can buy a Nissan Versa for $13,990. It has a 109 hp engine, and a five-speed manual transmission. It comes with an AM/FM radio and a CD player, and it also has air conditioning. It is a great deal. But it’s not likely that you’re going to buy one. Why not? Because it’s not a great deal for you.
A 2013 Rolls-Royce Phantom goes for $470,295. It has a 12 cylinder engine. It has optional bespoke, leather trim bucket seats. You can choose an optional rear seat lounge theater configuration with 12 inch monitors. you can also add a pen set to the glovebox. Or a humidor. It’s a great deal. But it’s not likely you’re going to buy one of these either. Why not? Because not a great deal for you.
Too often, great deal means low price. But a great deal is really a combination of the price and outcomes. The Nissan Versa and the Rolls-Royce Phantom will provide transportation. Either one of them will get you from point A to point B, but the experience will be quite different from one to the other. This is as true for the things you buy as it is the things you sell.
Your clients will always be able to acquire what you sell at a lower price. But that lower price is no indication by itself that your client got a “great deal.” The question that you need to ask clients who believe low price equals “great deal” is whether or not it is a great deal to give up some of the outcomes they need in order to pay a lower price.
Your clients may also be able to easily obtain the outcomes you sell at a much higher price. But making a greater investment than is necessary doesn’t equate to a “great deal.” The question you need to ask clients in this category is whether or not gaining additional outcomes at the same price would be valuable to them.
Value is in the eye of the beholder. You need to be a great deal at a price that allows you to profitably serve your clients.
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Filed under: Sales