That’s right — you’re too cheap! When you’re cheap, you attract cheap people. When you’re expensive, you attract expensive people.
One thing I have found time and time again is the person who positions themselves as being cheap is the one who attracts people who tend to whine and are anything but loyal.
When you attract people who are buying because of your low price, they’ll stick with you as long as you have a low price and they’ll complain about everything. This is especially true in the B2B environment.
Cheap customers are whiners. People who are willing to pay more are less likely to be whiners because they know they’re investing more and they understand the value of what you’re selling. Selling on low price has you swimming in the gutter of mediocrity with customers who don’t understand value.
One of the amazing things I’ve seen is when companies take a product or service and begin to price it higher than they previously had — and they have far fewer complaints and issues from their customers. Even if the quantity they sell goes down, their bottom-line profit is far greater. Plus, they now have customers who are easier to deal with.
Some companies find it challenging in making the leap to a higher price. Once you make the decision to move your price up, stick with it. Don’t waver. In time you’ll attract a different level of customer who will appreciate you far more.
Do you see how being “too cheap” can be the worst thing for your business model? A high-profit salesperson knows that “cheap” isn’t a path to any place worth going.
Copyright 2011, Mark Hunter “The Sales Hunter.” Sales Motivation Blog.
