Explaining Value When Your Customer Wants the Cheapest Option
Today, someone asked me abruptly “Why do YOU charge so much, when I can get the same thing from ‘The-Other Company’?”.
My immediate reaction was ‘value’ (and maybe a few other expletives). But fair enough, I thought, this person doesn’t know me, so I took the opportunity to explain MY value.
For all other value providers out there, what do you think? What else could I have said? My answer went something like this:
“Yes, it’s true that I charge more than The-Other Company. And, while we both bid on the same scope, what you are getting is NOT the same thing. Here‘s why:
- You asked for X. And while I can deliver X, have you thought about A, B and C? Your competitors are doing X – let’s see how we might differentiate and better position you through the eyes of your Ideal Client.
- I’ve spent thousands of dollars in the past year continuously learning the latest in innovative brainstorming methods and marketing psychology. As a lifelong learner, I devote hundreds of hours to consuming content – so YOU don’t have to.
- Whether it’s a one-off job or a long-term business relationship you’re after, I commit to your ongoing success. I keep my eyes, ears and mind open for new ideas that may help you prosper – long after our work is done.
- What you ‘get’ is NOT just X (although, it’s a damn fine X). I become your ally. A sounding board. A partner.
These are some of the ways I bring VALUE, and yes, you have to invest a little bit more for that.”
OKAY GUYS… I decided to write about this because I know there’s lots of you who are NOT THE CHEAPEST provider. And that’s perfectly okay. What’s important - define what makes you valuable. Not everyone will find you, your product or service a good fit. That’s okay, too. Focus on delivering YOUR value to those who appreciate it.
So, what did I miss? How do you explain your value to others?