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Is Price the Most Important Thing in Sales?

November 29, 2017 // R. Shawn McBride // No Comments »

While attending the Heroic Public Speaking Conference in Fort Lauderdale, Florida, I got to see Ian Altman do a small portion of his regular keynote speech.  Ian clearly knows his stuff, and he made an important point: Is price the most important thing when you are selling something?

He used a unique phrase, “Price is the top priority when the seller thinks it is.” Stop for a second and consider that. Price may not always be the most important issue to the buyer. The buyer may be worried about quality, getting your particular message in the case of a speaker, or getting a particular need met quickly. Sometimes, we have something of great value to the buyer, and the buyer may be very willing to buy.

There is often a value mismatch that underlies sales transactions. If we provide more value, and therefore, a higher price than the potential buyer values the goods or the service, there will be a mismatch. Many sellers react by adjusting the price. If you have a mismatch with the buyers, they may not understand the value. They may not understand what you are delivering, or they cannot capitalize on the value that you are adding.

Ian gave us a great thought—something to think about. It is a helpful way to look at the world. If you are constantly thinking that price is the issue, then price will be the issue. However, if you focus on trying to find matches for value added where you can add extreme amounts of value for a relatively low cost, then the buying choice is going to get clearer and clearer. You are the right choice, you are the one they need.

What are your thoughts on selling and pricing? What have you done in the past? Share with us in the comments below.

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This posting is intended to be a tool to familiarize readers with some of the issues discussed herein.  This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. Each case is unique.  Past results do not guarantee future outcomes. This article should not be treated as legal advice to any person or entity. Freeimages.com/photographer Mike Johnson. 

 

About the Author

R. Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment, gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can email R. Shawn McBride or (214) 418-0258.

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Posted In: Business, Speaking, Strategy



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