Buying on Value vs. Price

From Reinvent Yourself: The Simple Steps to Dominate Your Market

While speaking with a group of building materials dealers I heard one say in a panel discussion, “I will pay more for an item, if I have a good relationship with the vendor.”  He buys on the value of his relationship, not the price.  His vendor was in the room and couldn’t have paid for a better endorsement in front of his peers.

Don’t allow the customer to turn the conversation into a pricing one.  Sell the value he or she is looking to buy and you will always produce success.  Understand that people aren’t always buying your product, they are buying what it does for them – the value.

  • Customers aren’t buying car parts, they are buying “Keeping the clunker running.”
  • They aren’t buying a health care facility, they are buying “Great food in retirement.”
  • They aren’t buying a camera, they are buying “Memories for years to come.”

What value are people buying in your industry that you can sell…instead of arguing with them on the price?

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