It’s all about perception. Which I stress all the time on our Sales Training.
If the customer sees you with a higher price than the competitors, it will make them curious as to what you’ve got that the competitors haven’t.
They may ask what they can get that they wouldn’t get elsewhere.
It makes you look at your proposals from a different angle
You will have to move away from concentrating on your price and focus instead on how you will be able to solve customers’ problems in a more dynamic way
You’ll lose some of the ‘price-is-the-only-thing’ time-wasters
Believe it or not, some of the customers you may lose aren’t worth your time anyway.
If they’re a price-only buyer now, they will always be one, and that will only hurt long-term margins.
Your higher prices actually mean you’re attracting higher-value customers who understand the meaning of value and appreciate the extra work you do for them
When price is taken off the table, you create a different level of relationship with the client.
It becomes a partnership and allows you to work at a deeper level with them, as price and costs become less important than quality and effectiveness
The better customer base you acquire allows you to build further attractiveness to future prospects
This increases your image in the market place, so you become more attractive to those prospects who want to have great service, guarantees, back-up and so forth, and the increased profitability will allow you to invest in better and more successful processes.
It’s really just a matter of perception.
If you actually believe your products are better than the competition and the value outweighs the price customers pay, it will give you the confidence to approach prospects, proud that you are more expensive than others.