Pay More But Wash Everything At A Lower Temperature
To be energy efficient there is an investment. Let’s start with light bulbs. You pay a lot more for an energy efficient light bulb as they typically use 80% less electricity. You can also spend more on special washing powder or liquid tablets to save energy and enable you wash your clothes at a lower temperature!
To apply this to business and the specific objection you may receive when tendering, selling or closing a deal, “You are more expensive than everyone else”, the answer is “Yes that is right, we are.” You are then able to explain that by paying more with you, they are able to wash everything at a lower temperature – metaphorically.
If you are offering a marketing service that produces a much higher response rate than the whole host of other marketing strategies a company normally engages in, it may mean they can significantly reduce their commitment in areas where they aren’t getting as much response, or cut them altogether. The perceived high price pays for itself in efficiency, (in this case other marketing avenues are changed) and your client saves money by spending more with you.
If you make a product that lasts longer, has a stronger guarantee and the consumables you offer are better quality, or have less faults, work out where the client saves and makes more money by buying from you. The upfront cost is never the whole cost and too many people think they’ve got a good deal by spending less money in the first place.
How long the return on investment should take is perceived differently depending on who you are selling to. Your product or service costs a certain amount of money to produce and run. If it is worth the price, you will sell it even if it’s more of an investment, if it performs as you know it will. The late great Zig Ziglar used to say, “you can’t change someone’s mind, but you can help them make a new decision by giving them new information.”
Many salespeople could engage in the principle I put forward in this chapter of the book and change their results dramatically.
How by spending more upfront with you, can your existing and potential customers wash everything at a lower temperature?
This is taken from The Perfect Storm, 30 Ways to Drive Your Business, now on Audible. The stocking filler that, er, requires no stocking.